We’re looking to see if SPY breaks out over 514 or holds between it and 513, there’s a lot of volume 514-515.21 that can be used to propel it higher back towards that 518.32 premarket ATH. Below 513 we have the prior day range topping at 511.70, inside of that we shouldl aim for the prior day low. But SPY is popping premarket and things seem bullish. FOMC this week and the market isn’t expecting a rate cut, most importance will be put on whether or not the Fed still seems like they will be cutting rates 3 times this year as expected. As long as that’s till the case, it’s risk on.

1) 413-514 consolidation zone
2) Above 514 target 515.21, monitor for continuation towards 515.88, 518.32, then 520
3) Below 513 target 511.70, 511, 509.90, 508

William Wallace