$SPY — Gap-and-Go Confirms Friday's Hammer, Reclaims Both CloudsState Street SPDR S&P 500 ETFBATS:SPYMTrades-TTSA strong bullish day on $SPY. Market opened with a big gap up and kept moving. Opened at 766.25, closed at 773.50, right near the high of the day. A wide-range candle with volume 23% above average behind it. This is what the last three weeks were missing. Twice this month SPY gapped up and then closed red on the session — the gap did the work and the buyers disappeared. Today was different. The gap came, and then the session added another 7 points on top of it. Buyers stayed all day. It also confirms Friday's hammer. Sellers pushed it down to 757.97 on Friday and got taken out. Today the buyers followed through. Hammer at support, then a wide-range green candle on strong volume — that's the sequence to watch for. Price is now back above both the 5-12 and 34-50 @ripster47 EMA clouds — the zone it lost two weeks ago is reclaimed. After a move like this into overhead levels, taking some profit off the table is a reasonable way to manage a position that's run this far this fast. Levels Next levels: 775, then 780 — right around the all-time high at 779.37. That's where the real test is. Watch how price behaves into 775: a push up on a small candle with lighter volume signals buyers running out of steam at resistance. Strong volume through 775 keeps the move alive. Below, 766 is the gap support to hold. SPY