SPDR S&P 500 (SPY)

[imiloa]

fwiw, added SPY may6 205.5 @ 0.12 for potential bounce intraday.

logic:
didn't dump at the open, instead was strong buying momo and L2 bid depth
SPY 2min ADX remained gapped bullish across first 5 min.
VXX 2min ADX still gapped bearish, with VXX dropping faster than SPY rising.

VXX action and bid depth suggests deep pockets think we bounce a bit today
and/or are intent on ensuring that we do.

always risking to play the first 30 min of the open...
this is more a gut hunch based on the buying and L2 in the first few min
plus VXX action.