SPY is expected to drop below 755 towards 750 amid choppy price action.

Then all of a sudden you have to know, you know, where we are in the range, where are the spies, you know, is it holding 756 or is it breaking 756?

Uh here's this spy. So we sold off right from the open. What's notable about this is that we are going right through the VWAP.

Um, by the way, looking at SPY here. So, we had that pull out of the open. We had a recapture of VWAP. You'll see it did not quite recapture the pink or the magenta line there.

That's going to be your 9 EMA. That's what the bot looks like for trading zero DTE. So, this pull and bounce here, a little bit of a head fake. Did not quite get above that se at this point.

I'm just going to call it 760. So, uh, no trades here yet. We're actually in the trade one window now. We'll see if we get it, but um, that's where we're at here so far.

That's the Q's on the spy. Let's take a look and see what that looks like here. Looks like this is coming up to test that 9 EMA. We'll see if we get above it. Break of structure occurs at 761.

Yeah, and speaking of the market there, 13, I'm glad that you said that because I've been watching basically for a trade here. I've been watching the spy and I've been watching the cues.

One of the things I'm really trying to focus in on is really getting the bot to take more trades that end up being profitable with the zero DTE options because they're so fast and so quick.

So, I'm paying a little bit of extra attention to this. Note what we were just talking about. The pull recapture of the VWAP had this looking pretty good. The rejection at the 9 EMA though, that is really what sent this lower here.

Now, we've talked a lot about chop here um and and with what we're kind of expecting here for the day and into tomorrow for the Fed meeting. So, maybe this is just going to kind of be part for the course here.

But be careful with these things. This this definitely looked like a bounce head fake. And the story doesn't stop there on the spy. You had the exact same thing or almost the exact same thing happened here on the Q's.

Now, the Q's did move above that 9 EMA. You can see it is flirting with that right now.

Okay. And now the spy this is, you know, it the the outlook here keeps changing. So here's the spy. First of all, th this entire move corresponds with a 15minute retest of the VWAP on the S&P futures.

So, so far S&P futures trying to hold VWAP. Now, SPY, we have a higher low and we have a recapture of VWAP or a test of that going on right now. I would again watch the 759.85. See what happens if this recaptures that 9 EMA.

spy cues, no bueno. Uh this is rolling over. We did break the structure to the downside. We have a lower high, lower low, break of structure to the downside on the spy.

I promised the group that I would at least ask you what your thought was on the spy. so we are caught between 755 and 765. And so my suspicion is that we probably are going to see some kind of liquidity sweep under that 755.

And if they lift us above it, they're going to try and hold it.

he looks at the five simple moving average on the daily, right? It's uh it's kind of a big deal for him. And so we're going to look at it on the 4our right here simply because it's just giving us really very solid trend.

If I had any skills as a trend line person, I would have drawn this move up from 775 on Friday of last week to where we are sitting right now and the market is trying to bottom here. They are trying to hold it.

You know, there's a there's a put wall down there from a weekly chart. We have old resistance as new support. We have this monstrosity of an August week. Remember, August came in like a lion and just gave us that first week that was mon just a huge candlestick and we've done nothing but leak right through it.

So my suspicion is that we actually do get back to 750. We have so many crossurrens going right now in the market that it is very hard to choose directional formations unless we can see active and very strong weekly support or resistance.

If we look at the days, if we look at the 4hour, if we look at anything like that, it's going to give us a ton of sideways pressure. And that really is what's happening to a lot of traders right now.

They're getting caught in that crosscurrent of price action that makes us think, oh, well, maybe we're going to hold, maybe we're not going to hold.

But today as we are drifting down, my suspicion is that we leak into this 755 756 area. So I would still say on a 30 minute chart this is giving us bounces that lead us to sell zones in general.

I would suspect that towards the end of the day today they're going to try to unwind it just like take a look at what happened here in SPY. In the overnight found this to be supremely interesting.

In the overnight, we had all of this downward pressure short short short all the way down until about 5:30, which is after Europe opens up and every single trader unwinds. They just unwind. Hey, I was short at the pre-market.