SPY is viewed constructively with hope for further upside extension, despite noted resistance and chop.

Hoping my spy calls I held over the weekend stay printing. And yeah, your spy trade looking pretty good. It is actually my hope, just I'll I'll just give this to you before we cover the spy chart.

It's actually my hope that we get a little bit of extension here. I know we're gapping up this morning, but like a gap up move down just going to kind of be sideways here. I'd like to see us get some extension.

Should be great for your calls. We'll see if we end up getting that.

All right, let's take a look at our spy chart. Let's get the uh lay of the land, if you will, going into this week. Uh again, my big hope here, if you're asking me for what do I hope is going to happen here both today and this week, well, I am hoping we get some continuation as opposed to the constant back and forth that we've been dealing with that has really led to this chop.

Here's what the daily chart looks like. Now, it is con and actually, let me see if I can make this scale a little bit better so we can take a better look at this. All right, so it actually looks constructive on the daily.

Just glass half full here. We traded down during a seasonally weak period that we all kind of expected. We tested the 100 day. We actually bounced pretty clean off of that area and we recaptured a previous breakout level and the 50-day.

So all of that stuff pretty good, normal, I guess you would say. I don't even know if I would go so far as to say good. Probably just normal trading action. Now, on Friday, we did a really good job holding the 50, but we just simply did not have the strength to move higher at all.

That was notable at the time. Now, today, we're actually gapping above this level. So, that's going to be your 20-day moving average. The value is 76427. We're currently at 767 flat here this morning.

You can see we did trade above that. Now, what I would like to see here for some more just kind of constructive trading this week, I guess constructive means to the upside for me, but just some constructive trading here.

I would very much like us uh to be able to hold above this level. So, even if we see some profit taking from the, you know, 3/4 of a percent gap that we're doing here this morning, if we can hold on to six, uh, excuse me, 764 and a quarter, we might be all right here this week, especially as we get some of those consumer earnings reports like Costco and Darden and such.

So, we'll see if that's what we end up getting. 774 to 775 really seems to be the next level. And then of course 77685 is a previous breakout level. We're almost certainly going to find some resistance there.

And that's if we continue trading up here. So again, just looking at the last several sessions here looks constructive higher lows, but can we hold it? The die has not yet been cast.

Take a look here at the 4hour chart for the spy. Um, we're basically kind of right around like this was a former support area that might also act as resistance. We're basically right there right now.

So maybe if we can cross above this, we can start going towards that 774. But to your point here about being at a resistance area right here, this 767, this entire handle of 767 um should actually provide some resistance. And if we can pop above that, great.

SPY looking like it's going to retest the VWAP here. We'll see if that moves higher. Uh, SPY is trying to break and go higher. See if it has that uh, strength to do that. By the way, 76726 is going to be your pre-market high.

SPY trading above the VWAP. I think we'll probably be okay to wait for this pre-market high break. You want to be a little bit more conservative on a trade there.

SPY still chopping although that's trying to get constructive as well.

we'll see here if SPY follows It's really got to get above 676. Excuse me. 767.

>> There's the spy by the way looking like it might be trying to break 76726. That area it needs to break.

>> SPY. You got a break above really quick. SPY got a break above on that. >> Now you're >> awesome. All right. I I did I traded that manually by the way here on this spy breakout.

>> All right. One trade done there on SPY. >> Nice. Yeah, I would like to see a more further sustained break here, but I think if we get that, the bot might take it. So, at this point, I basically just did that manually here on this little kind of micro change of structure, but that worked. That's at least something here to start with.

Spy still looking like it might try and go here. I got risk on.

The SPY is coming in a little.

I have uh green edge on the spy, composite risk on at the moment. SPY is continues to trade higher. Boy, I'm glad we hit that once. I missed the Q's trade, but at least I hit spy for some lunch money.

So did the spy.

and uh by by the way, SPY here. So, I know this this had that nice little trade up which we got. Nice little break of pre-market structure up to the highs. Now, we had a pullback here to the 9 EMA and so far this is holding. 76714 is that value.

We'll see if SPY gears up to roll higher here. I did get a signal on my one minute chart for this indicator.

Spy looks like it might be trying to pop here. We'll see on Spy. There we go on SPY. That is a break of the structure. New high, intraday high 767.84, your new intraday high there on SPY.

SPY and Q's continuing their leg higher.

Yeah, strong spy candle, Gary. We had indications that the spy was going to be strong earlier. That's why we traded that one with the zero DTE calls, but it's had another leg higher here. This is pretty good.