To The Moon

$SPDR S&P 500 ETF Trust(SPY)$ Turnaround Tuesday⁉️

📉⚠️🔥 SPY-der Web: Teetering on the Edge While $JPM Holds the Scissors 🔥⚠️📉

🗓️ 09Apr25 🇳🇿🕟

As I sip and splutter on my third latte and dissect the carnage flashing across my trading setup, the $SPY chart now reads like a cautionary tale written in red. The swing was nuts!The post tariff chaos has left the S&P 500 ETF sliding from its intraday high of $524.98, now clinging to $505.50 with all the elegance of a falling knife. The chart is wounded, and bulls are looking to the banks, especially $JPM, to stitch this market back together before it unravels further.

🔍 Chart Overview from 08Apr25 🇺🇸 time 

   •   High: $524.98

   •   Low: $502.04

   •   Open: $521.94

   •   Current: $505.50

   •   Volume: 96.63M

   •   AUM: $521.8B

🧭 Technical Breakdown:

The monthly chart shows a sharp rejection from the January peak of $613.23, with the price now slicing below all key EMAs. The MACD histogram is deepening red with a bearish crossover confirmed:

   •   DIF: 35.16

   •   DEA: 39.79

   •   MACD Line: -9.2684

This signals bearish momentum gaining steam, supported by a declining ARBR (BR: 96.75, AR: 98.33), highlighting weakening breadth and rising risk.

📊 Key SPY Levels to Watch:

   •   Immediate support: $502.04

   •   Lower band zone: $495 to $501.23

   •   Resistance layers above: $507, $512, $513.50

   •   Mid range cap: $517 (red mid line)

   •   Today’s ceiling: $524.98

🔮 Market Sentiment & Possibilities:

“Ideally we can bottom and consolidate in April,” I’ve noted, but this isn’t a market that plays nice. Whether $479.47 was the ultimate low or whether a double bottom is forming remains an open question. Right now, I wouldn’t be surprised if banks bounce on Friday to offer temporary relief, and all eyes are locked on $JPM to lead the charge. Their earnings could dictate where the market goes from here, especially with volatility this elevated.

💼 Enter the Banks:

If $JPM delivers a strong earnings beat, it could spark a reflex rally that temporarily stabilises the market. But if they miss or issue cautious guidance, prepare for another leg lower. This is no ordinary report, it’s a market event.

☀️ Summer Rally Still in Sight? 🌞🕶️

It’s not off the table, but it’s slipping. A USA summer rally hinges on a fast recovery above $507 and strong leadership from financials. The bulls need consolidation, a floor, and a catalyst, because without them, momentum is fading fast.

🎯 Trading Game Plan:

   •   A hold above $501.23 invites a short term bounce toward $507 or $512

   •   A break below $495 opens the trapdoor to $479.47

   •   Watch $JPM’s earnings Friday. They’re not just a report, they’re a market signal

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Trade like a boss! Happy trading ahead, Cheers, BC 📈🚀🍀🍀🍀

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