Is the SPY rally exhausted? -- Trade ideas for 04-20-26
Friday closed the weak out green. With a small gap down today will it get bought?
BTFD continues. Another profitable day. Both credit sell trades (bull puts and bear calls) went to 0. as yesterday was a consolidation day. Overnight, yesterday high cleared and market non stop rallied/squeezed.
I was original positioned for a fail, but estimated the far end of the squeeze to hit 712 which we did. Then repositioned on SPX/ 7130 and 7150 bear calls. Both paid nicely.
What do we get today?
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.
FREE LESSON on catching End of Day Exhaustion
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SPY Surge Trap: Guard Your Gains
Premarket at 707.65 eyes pivot test amid volatility rebound.
Market Context
SPY premarket closed at 707.65, up from prior regular session close of 710.04, positioned between pivot 709.42 and R1 713.07. Recent 5-day data shows choppy action with multiple failed breakouts above 710 and breakdowns below 705, forming a tight range around 706-710. Bias leans neutral-to-bullish with premarket holding above PML 705.08, but volume spikes suggest potential reversal at key levels.
