SPY 0DTE Options Premarket 2025-05-05 (DS)
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SPY 0DTE Trade Plan for 2025-05-05
1. Technical Analysis Synthesis
Price Position:
M1 Chart: Price ($566.76) straddles key EMAs (10/50/200-period EMAs clustered at 566.84–567.25) with no clear trend. M5 Chart: Price below 10-period EMA (567.11) but above 50-period EMA (566.81), signaling short-term bearish bias. Daily Chart: Strong bullish trend (RSI 65.04 nearing overbought, MACD rising).
Key Levels:
Immediate resistance at $567.00–567.58 (M1/M5). Immediate support at $566.02–566.47 (M1/M5). Daily resistance at $567.42–569.24.
Momentum Indicators: