SPY 0DTE Options Premarket 2025-04-08 (DS)
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SPY 0DTE Trade Analysis & Recommendation Date: 2025-04-08 | Current Price: $504.38
1. Technical Analysis Synthesis
5-Minute Chart:
Price Action: Mildly bullish momentum in the last hour (rising from $501.50 to $504.38). Key Levels: Immediate resistance at $506.31; strong intraday support at $500.15. MAs: Price above 10/50-period EMAs (bullish short-term), but below 200-period EMA (~$514.85 - bearish longer-term). RSI: Neutral (52.63), no overbought/oversold signal. Bollinger Bands: Current price near middle band, volatility expansion unlikely.
Daily Chart:
Trend: Severe downtrend (last 5 days: $559 → $505.28). RSI: Extremely oversold at 19.55 (historically rare). Key Levels: Critical support at $501.74; resistance distant at $567.42. Structure: Bearish with price far below all key EMAs (10/50/200-day).