$SPY Daily Chart Taz Plan - May 2025 into June-July Breakdown

📉 SPY Daily Chart Trading Plan — May 2025
Thesis:
Price has returned to the exact level ($594.20) where the February impulse breakdown began. This zone is acting as a Lower High rejection within a broader bearish structure. A clean rejection here opens the door to multiple inefficiency fills below.

🔍 Structure Breakdown:
Feb High (ATH): $613.23

Feb Open: $592.67

Feb Close (last green candle before impulse): $594.20

Current Price: $594.20

Marked LH: $592.50

This is a rally back into rejection, not strength.

📉 Key Zones & Gaps:
🔺 Gap Supply: $566.48 – $578.50

🔺 Wick Gap: $558 – $566 → Needs a full-body candle to initiate fill

🟥 FVG (4/22): $528 – $541.52

🧱 Major Support: $481.80

🧠 Trade Plan:
Short Entry 1 (Confirmation-Based):
🔻 Red candle rejection under $592.50 = starter short
🔻 Watch RSI and MACD for momentum fade

Short Entry 2 (Gap Breach):
🔻 If $578 is broken and retested → scale in
🔻 Gap fill expected quickly once triggered

Short Entry 3 (Wick Gap):
🔻 Body close through $558 = last add
🔻 Sets up for final flush to FVG

🎯 Targets:
$578.50 → $566.48 (Gap Fill)

$558 → $541.52 (Wick Gap & FVG Top)

$528 – $530 (FVG Close)

$481.80 (Long-Term Panic Target)

❌ Invalidation:
Daily close > $595.50 = Pause thesis

Weekly close > $600 = Structural shift, short squeeze zone

🧠 Final Thoughts:
This isn’t just a gap fill play — it’s a structural fade from a lower high back into memory. The Feb impulse wave left behind layers of inefficiency, and price just tapped the origin of the breakdown.

Momentum is peaking. If this is a trap, the downside should begin immediately.

Let the chart prove it.