SPY 15m Analysis – Sept 15, 2025

SPY is currently at our short level, which also aligns with a gap zone. Price has respected the ascending trendline, but momentum is slowing, and we’re now watching closely for a trendline break.

🔑 Key notes:

Gap + Premium zone tapped → potential reversal area.

Multiple FVGs (imbalances) below at 656 → 648 → 636 that price may revisit.

RSI showing bearish divergence, signaling weakening bullish momentum.

First downside targets: 656 → 648 → 636 if the trendline fails.

📉 Bias: Neutral → Bearish. Confirmation needed on trend break before entering shorts.