Happy Cinco de Mayo! -- SPY Trade ideas for 05-05-26
Is market ready for more highs or a yank today?
Solid trades in morning, with shorts of vwap possible yesterday.
Let’s see what today gives us. We should be getting to a gap up reversal day soon.
Remember if shorting, OTM bear calls are what I like. for now market is still full BTFD. just have to be patient for the backtests into support to get long!
How to use AlphaOS to recognize shift in momentum
Process = Profits
Lately I’ve been doing the following:
Premarket establish where we likely wont reach. Sell premium for 0.8-0.60 on open.
After 11: second positioning of credit sells.
After 3:30: start hawking/planning for a Spectre Special
What’s a Spectre Special? A yolo trade that goes 300-1000% in under 30 min.
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SPY Traps: Survive 721 Breakdown Today
Premarket holds 721.30 amid volatility—watch failed breaks for quick edges.
Market Context
SPY premarket closed at 721.30, above pivot 718.85 but below R1 722.7. Prior session closed at 718.07 after range-bound action between 715-720 with multiple failed breakdowns at 717. Data shows bearish bias from 5-day high 724.87 and low 707.84, with recent volume spikes at 718 confirming resistance.
