$SPY Trading Range for Monday Jan 3rd

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All right this trading range is based on the one standard standard deviation movement off of Friday’s closee

We gapped down underneath the downward facing one hour 200 moving average into the up gap from January 17 which was a previous support on January 27. Now we are underneath it. We’re making lower lows and we also gapped underneath the 30 minute two hundreds moving average and the 50 day moving average so look to those levels as resistance for now. Below us we have an island gap that needs to be filled and it’s really close. I wouldn’t be surprised if we head there next .

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Did anyone else notice the oversold signal on willy this morning? Willy is red but we usually see a techincal bounce on over sold even if we move lower!!