Grandma Edge Newsletter – Coffee With Q
Good morning, traders!
SPY closed at 687.46 yesterday – breaking well above 685 and now sitting just 2.5 points below the major 690 ceiling.
CRITICAL LEVELS:
- Above 690 = major bullish breakout
- Below 685 = bearish back to 680
KEY LEVELS
🟢 RESISTANCE:
- 691 – Upper wall
- 690 – MAJOR ceiling (huge positioning)
- 689 – First resistance
📍 CURRENT: 687.46
🔴 SUPPORT:
- 686 – First support
- 685 – Critical floor
- 684 – Max Pain / Strong support
- 680 – Flip zone (681.2) / Massive puts
💡 TODAY’S SETUP
Strong rally yesterday pushed us from 685 to 687.46 – we’re now sitting just below the 690 ceiling. This is a tight 2.5-point range to the biggest level on the chart.
Break and hold above 690 opens 691+. Lose 685 and we drop back to 684-680.
Range: 685-690 (tight, 690 is the battleground)
NO BIAS – Check Q LEVELS and price action with the Q Algo
⚖️ DISCLAIMER
Educational purposes only. Not financial advice. Trading involves substantial risk of loss. All decisions are your own responsibility. Options trading is high risk and not suitable for all investors.
— Grandma Q | Coffee With Q
Trade safe! ☕🚀