SPY support zone 764 hit

Support zone: close above is a hit. Close on the level is a push. Graded on the regular-session close.

A support zone is a price below the market where a large amount of options positioning sits. The idea is that this positioning can slow a move down there, so the test is simple: does the stock close above it? When it was posted at 08:33 ET, SPY traded at 765.5, 0.2% above the support zone. On the same map, the next level above was 768 and the next level below was 732. See the original post.

Price traded through the support zone during the session (first 5-minute close on the wrong side at 9:40 AM ET), with a low of 759.31 and a high of 778.57. In the last hour price moved up 14.04, from 764.53 to 778.57.

The regular-session close was 764.03, 0.03 (0.00%) above the support zone at 764. Under the rule (support zone: close above is a hit), that is a hit.

SPY finished the day up 0.2%. We found no single clear company-specific catalyst for the day in our notes.