$SPY Pre-Market Prep: Can $SPY Keep this Up?

Added: 2026-05-30

[00:00:00]Hey folks, ET here coming at you with the pre-market prep. So, let's get to it. Happy Friday tomorrow. Today we had calls over puts even though they were somewhat flat throughout most of the day and we just continued a slow grind up.

[00:00:14]Every time we got green convergence, price popped just slightly. For the most part, we spent a good part of the day range bound up here at that 755 754-ish range. We did finish obviously with a sizable green decks. Keep in mind that sometimes when we see sizable green decks within the next two to three sessions, we sometimes see a pullback, but not always. So, do not just bank on it.

[00:00:42]All right, let's move into our dark pools. Oh, no, you know what?

[00:00:48]That's the wrong order. We do customer sentiment and whale targets first. Just fat-fingered a tab is all. All right, so whale targets.

[00:00:56]751, 740, and then 735. 730 was down here for most of the week, but now it is now gone with 730 as the as the lowest whale target currently. And customers are still in buy the dip mode. So, now we'll jump into our dark pools. Largest on the agg is still around that 739 range. Walked up a couple of bucks from early in the week from 737. And our highest dark pool has walked up once again by another few bucks up to 753.61.

[00:01:26]SPY is sitting around 755 in the overnight session. So, we'll keep that in mind as we take a look at our gamma. So, on the agg, we have a positive gamma cluster really from 754 all the way down to 750. So, bulls want to hold this range on any dips. See positive call flow that takes us up to 762. Bears want a real shitty day for the bulls. Have 750 get lost and then see us pull down into 737. That's a massive dip that that would be right there. So, put an X on it for now unless some crazy stuff happens.

[00:02:03]We do have this large pull down here, but we're very far away currently. We would need a $15 drop tomorrow to get to it, but we have seen crazier things happen. All right, that's the ag. So, keep this positive gamma cluster right here in mind and keep an eye on flow and convergence as things go along. Now, we will jump into tomorrow, 529, then get everybody out of here so you can enjoy your Thursday evening. So, tomorrow bit of a wild look here. 750 still prominent. 754 fairly prominent. And then once again, we have we have the six this 758 up to the 62 range to keep an eye on here. So, >> [snorts] >> bears want or bulls want the same thing.

[00:02:44]We want to hold here, hold here to get more upside. Bulls want to see all of this get lost to take us down to a more reasonable 744, which is only $11 away from price. And then once again, we see that 737 that we saw on the ag as well.

[00:02:59]And then the biggest pull is 740. So, bears if you really get a good day and a lot of bearish flow and a lot of things that cause this to go down, okay, keep an eye on those ranges down to 744 to start. And then same thing we just covered with the bulls, what we look for on the upside. All right, that is all for now. Everybody have a good night.

[00:03:19]Stay safe out there and go get that Oprah money.