Barcode
04-04

$SPDR S&P 500 ETF Trust(SPY)$ $S&P 500(.SPX)$ πŸ“‰πŸ“ŠπŸ§ Mind the Gap, SPY Tiptoes into May 2023’s Abyss πŸ§πŸ“ŠπŸ“‰

The S&P 500, $SPY $SPX, has erased all its gains! It is now trading where it was in August.

$SPY opened with a thud at $523.74 and has since cascaded over 5% intraday, bottoming at $508.32 so far, its sharpest single-day drop in months. What’s catching savvy traders’ attention? The price has now entered the open gap left behind in May 2023, but make no mistake, this gap is far from filled.

We’re witnessing a textbook example of a partial gap fill in progress, not a completed one. The high-volatility rejection from previous support zones suggests institutional capital flow is decisively risk-off today. The MACD confirms that bearish momentum is accelerating, while VMA stacks are now sharply tilted south, showing that gravity is doing more than just its job.

Zoom in on the chart and you’ll see a clean breakdown below the 509 to 510 band, which was once solid ground. The ARBR indicates waning bullish confidence, and the relentless red candles tell us this isn’t just panic, it’s strategic selling.

For gap traders, this setup is classic, once a gap begins to fill, it often draws price action like a magnet, but completion is never guaranteed in a single move. The next few sessions will be pivotal. A strong bounce or continuation down could define sentiment well into next week.

Hey Tiger Traders, are you anticipating a full gap fill to the May 2023 lows, or will the bulls claw back control before the gap closes?

πŸ“’ Please Like, Repost, and Follow me for sharp setups, stock trends, and actionable insights πŸš€πŸ“ˆ I’m all about spotting the next movers and sharing strategies that deliver results! Let’s trade smarter and grow together! πŸ€πŸ€πŸ€

Happy trading ahead! Cheers, BC πŸ“ˆπŸš€πŸ€πŸ€πŸ€

πŸ’° Stocks to watch today?(8 Apr)
1. What news/movements are worth noting in the market today? Any stocks to watch? 2. What trading opportunities are there? Do you have any plans? 🎁 Make a post here, everyone stands a chance to win Tiger coins!
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Mig
    04-04
    Mig
    great article BC πŸ™‚
    as a newbie in this trading business I'm blown away 🀯 it's incredible what had happened in the last 3 days. If you ask me, it's planned (let me wear my tin foil hat)
    I wouldn't take a position right now, what I will do is set 2 strategies, bullish and bearish, and action accordingly the premarket, support and resistance levels on Monday
    good luck and happy trading πŸ€πŸ™‚
    • Barcode
      Whether orchestrated or not, the synchronicity of global policy signals, tariff shocks & institutional rebalancing certainly gives merit to your observation.
    • Barcode
      β˜€οΈπŸ“šβ˜• Happy Sunday ahead! May it be filled with strong sips, smart steps, sparkling ideas, and a splash of serendipity to set the tone for a stellar week. πŸ€πŸ€πŸ€
    • Barcode
      Happy trading ahead! Cheers BC πŸ’°πŸ“ˆπŸš€πŸ€πŸ€πŸ€
    • Barcode
      Your dual strategy approach is exactly the kind of disciplined thinking that outlasts noise, reacting not emotionally, but analytically to market structure. I’m confident that over time, this kind of tactical mindset will serve you incredibly well. Wishing you clarity & conviction in Monday’s setup
    • Barcode
      Thanks so much, Mig, I really appreciate that. Your instincts are sharp, especially for someone new to trading. What we have seen over the past three days is not just volatility, but a structurally significant shift in sentiment & capital flow.
  • Hen Solo
    04-06 03:12
    Hen Solo

    Great article, would you like to share it?

  • Queengirlypops
    04-05
    Queengirlypops

    Great article, would you like to share it?

    • Barcode
      Happy trading ahead! Cheers BC πŸ’°πŸ“ˆπŸš€πŸ€πŸ€πŸ€
    • Barcode
      β˜€οΈπŸ“šβ˜• Happy Sunday ahead! May it be filled with strong sips, smart steps, sparkling ideas, and a splash of serendipity to set the tone for a stellar week. πŸ€πŸ€πŸ€
    • Barcode
      πŸ™ Thanks Q, appreciate the repost. Your support helps spread the word and fuel the trading energy. πŸ€πŸ€πŸ€
  • Kiwi Tigress
    04-05
    Kiwi Tigress

    Great article, would you like to share it?

    • Barcode
      Happy trading ahead! Cheers BC πŸ’°πŸ“ˆπŸš€πŸ€πŸ€πŸ€
    • Barcode
      β˜€οΈπŸ“šβ˜• Happy Sunday ahead! May it be filled with strong sips, smart steps, sparkling ideas, and a splash of serendipity to set the tone for a stellar week. πŸ€πŸ€πŸ€
    • Barcode
      πŸ™ Thanks KT, grateful for the repost. Every share helps amplify the ideas and keeps the momentum going. πŸ€πŸ€πŸ€
  • Cool Cat Winston
    04-05
    Cool Cat Winston

    Great article, would you like to share it?

    • Barcode
      Happy trading ahead! Cheers BC πŸ’°πŸ“ˆπŸš€πŸ€πŸ€πŸ€
    • Barcode
      β˜€οΈπŸ“šβ˜• Happy Sunday ahead! May it be filled with strong sips, smart steps, sparkling ideas, and a splash of serendipity to set the tone for a stellar week. πŸ€πŸ€πŸ€
    • Barcode
      πŸ™ Thanks CCW, I appreciate you resharing my post. It means a lot to have your support across the platform. πŸ€πŸ€πŸ€
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