2026-01-17 20:54:54

There are clear signs of weakening in the US stock market technically. Last weekend, the Nasdaq slightly declined by 0.5%, and the chart performance of SPY is concerning — from a technical perspective, it is difficult to effectively break through 700 at this level. Based on the current pressure levels and adjustment pace, it is very likely to fall back to support levels below 685 before the end of January.

Why are we so optimistic about this short opportunity? At the beginning of the year, we already positioned ourselves with January SPY put options. The technical weakness combined with valuation pressures signals many short-term traders to enter the market. The current adjustment in US stocks has just begun, and there are still many points of interest to watch.

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LiquidationWatcher

· 13h ago

ngl, 700 resistance is looking pretty gnarly rn... been there before when collateral ratios started cracking. that jan expiry spy put play? risky af but i get it. just watch your health factor like a hawk - margin calls don't care about your thesis, trust me on this one 💀

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MetaMaximalist

· 18h ago

ngl the 700 resistance thesis is interesting but this feels like textbook mean reversion talk... everyone's suddenly calling the top again lmao. been through this cycle enough times to know that technical weakness ≠ actual macro catalyst tbh. where's the protocol-level reasoning here? 685 support seems arbitrary without understanding the underlying network effects driving valuations rn.

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BearMarketLightning

· 21h ago

Position 685 is indeed tempting, but I think this wave of correction isn't that simple... SPY's rebound ability is stronger than you think; 700 is not really a big problem. I'm also holding put options, just worried about a sudden reverse surge, then I might have to cut losses. The technicals are weak, that's true, but a softening stance from the Federal Reserve can reverse the trend; don't overestimate this point. End of January? I think the timeline is a bit aggressive. If you ask me, in this kind of market, it's easiest to get caught off guard; caution is advised.

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Blockchainiac

· 01-20 00:35

Speaking of which, this wave of bears is quite interesting. I'm also watching the 685 support level, just worried about another false breakout...

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MidnightTrader

· 01-17 21:25

Can that support level at 685 really hold? It feels a bit shaky.

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LoneValidator

· 01-17 21:14

Can that support level at 685 really hold? It feels a bit uncertain.

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LiquidityHunter

· 01-17 21:13

Can support level 685 really hold? It feels like this decline isn't over yet.

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CryptoComedian

· 01-17 21:04

Smiling, I ended up crying. The 700 level really resembles my account balance—looks solid, but a poke and it breaks. Let's treat the 685 line as our last dignity. Praying it doesn't break. Put options are doing well now. This time, the bears must make a profit, or it wouldn't live up to the expectations at the beginning of the year.

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GasFeeNightmare

· 01-17 21:00

Stayed on the gas tracker for another two hours late at night, and instead of catching a profit, I saw this. I bet on the 685 support level.

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