SPY 0DTE Options Premarket 2025-04-16 (DS)
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SPY 0DTE Trade Plan for 2025-04-16
Technical Analysis Synthesis
Price Position: Below all key EMAs (10/50/200) on M1/M5 charts, signaling bearish momentum Daily chart shows price trapped between 10-day EMA (535.29) and 50-day EMA (561.89) Momentum Indicators: 1-minute RSI: 37.27 (approaching oversold) 5-minute RSI: 40.51 (neutral-bearish) MACD: Bearish crossovers on M1/M5, daily MACD improving but irrelevant for 0DTE Key Levels: Immediate support: 537.14 (M1), 537.4 (M5) Resistance: 538.21 (M1), 538.73 (M5) Max Pain: $537.00 (bearish gravitational pull)
Market Sentiment
VIX: 30.12 (high volatility but falling) News: Mixed signals - mega-cap optimism vs. futures declines Options Flow: Heavy put OI at $537 (max pain), call OI concentrated at $540+
Directional Determination