🧢SPX: wacced out backtests
riding on some SPX, Anita Baker in the tape deck...
Look at the hourly.
Yesterday we gave you two numbers: 714.46 on top, 712.69 on the bottom. That was the whole tape from April 24 through this morning. Up to 714.46, rejected. Back to 712.69, bounced. Up to 714.46, rejected again. Over and over. Same ceiling, same floor, different candles, same result.
That’s not the market being broken. That’s actually it doing exactly what it’s supposed to do. Neither side had enough to break the stalemate so price just kept going back and forth between those two lines until someone blinked.
This morning someone blinked and SPY pushed through 714.46 and tagged 715.21. First time in three days it’s been above that line with any kind of follow through.
Now we wait for the retest. That’s when 714.46 needs to flip from resistance to support; price comes back down, touches it from above, holds it. That’s the confirmation. Without it the break is just a wick above a line and those don’t count.
📊 SPY LEVELS | The Map
🔵 Blue / 🩵 Teal = Gap Levels | ⬜ White = Weekly | 🔴 Red = Monthly (bolded)
⬆️ ABOVE: ⬜ 718.00, ⬜ 720.00
📍 CURRENT: 714.86
⬇️ BELOW: 🔴 714.46, 🩵 712.69, 🩵 710.62, 🔴 707.04, 🔵 702.29, 🔴 701.80
🎯 HOW TO TRADE IT
🐂 Bullish: SPY pulls back to 714.46 and holds. That’s the entry. Not before. Calls with room.
🐻 Bearish: Can’t reclaim 714.46 on the retest, fades through 712.69. Puts make sense there with 710.62 as the first target.
🧠 Neutral: Chop between 712 and 715 before the headline. Let the news make the move. Trade the reaction, not the anticipation.
🌊 THE FLOW: $90/yr annual sale ends today.
Here’s what the Orca Suite caught today. Bullets below are for YEET Plus; upgrade at theyeet.com.
🔒 YEET Plus: SWANDEX (Orange Swan) readings are back to tell you what the whales are thinking on our index filters
🔒 YEET Plus: The Plush Flow — today’s best confluence plays picked from the filters
🦢 SWANDEX | Apr 27, 2026 (SWANDEX free preview)
