SPY 0DTE Options Premarket 2025-04-29 (DS)
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TRADE RECOMMENDATION Directional Bias: Moderately Bearish (65% Confidence)
Technical & Sentiment Synthesis
Immediate Bearish Momentum:
1-Minute Chart: Price broke below all EMAs (10/50/200) with RSI plunging to 36.63 (oversold). However, MACD histogram (-0.068) confirms bearish momentum. 5-Minute Chart: Failed breakout above $552 resistance, RSI cooling from 83.68 to 61.84. Daily Chart: Bullish MACD divergence but nearing key resistance at $552.28. Max Pain Alignment: Max pain at $547.00 ($3.85 below current price) signals gravitational pull downward.
News Catalyst: Weak labor market report and sell-off headlines amplify downside risk.