SPY MARKET OBSERVATION • 2026-02-20
SPY Outlook 2026-02-20 — Key Levels & Tomorrow Bias
Review the SPY key levels, market structure, next levels, Tomorrow Bias, and outcome for this date.
Today — Current Session
UB1686.64
UB2689.68
UB3692.72
LB1680.55
LB2677.51
LB3674.47
Prior Trading Day
UB1687.29
UB2690.78
UB3694.27
LB1680.32
LB2676.83
LB3673.34
ACCEPT / REJECT / INTERLEAVED Structure
Market StateTWO-WAY
Structure ModeINTERLEAVED
Accepted LevelsPrior LB, Prior LB2, Prior LB3, Today LB2, Today LB3
Rejected LevelsPrior UB, Today LB, Today UB
PEER ACCEPTED INTERACTION
Continuation Plan
DirectionSHORT
Accepted LevelPrior LB3
Confirmation / Trigger672.99
Projected Target666.69
Current StatusNOT TRIGGERED
SPY Reference683.88
General market information only. Reaching a published level is not an instruction to place a trade.
PEER REJECTED INTERACTION
Reversal Plan
DirectionSHORT
Rejected LevelToday UB
Reversal Confirmation687.03
Projected Target685.35
Current StatusTARGET REACHED
Hard Invalidation680.73
General market information only. Reaching a published level is not an instruction to place a trade.
Next Values We Are Observing
The active observation ladder is shown below.
OBSERVE NEXT 1
Today LB — 680.55
OBSERVE NEXT 2
Prior LB — 680.32
OBSERVE NEXT 3
Today LB2 — 677.51
SPY TOMORROW OUTLOOK
LONG • 64.5% confidence
Watch687.03
Confirmation687.03
Invalidation680.73
Target690.17
Extension693.32
Reversal Confirmation683.74
SPY Level Outlook — Available Pre-EOD
Today UB — 686.25
ACCEPT / CONTINUATION • up projection 690.06 • down projection 682.44 • projected target 689.19 • today status REACHED
Today UB — 687.03
ACCEPT / CONTINUATION • up projection 690.06 • down projection 683.99 • projected target 690.17 • today status REACHED
Prior UB — 687.22
ACCEPT / CONTINUATION • up projection 690.06 • down projection 684.37 • projected target 690.77 • today status REACHED
Prior UB — 687.37
ACCEPT / CONTINUATION • up projection 690.06 • down projection 684.68 • projected target 690.79 • today status REACHED
Today UB3 — 693.32
ACCEPT / CONTINUATION • up projection N/A • down projection N/A • projected target 693.32 • today status NOT REACHED
Today LB3 — 674.44
ACCEPT / CONTINUATION • up projection N/A • down projection N/A • projected target 674.44 • today status NOT REACHED
TOMORROW BIAS — OUTCOME & PRICE AUDIT
Confirmation687.03
Primary Target690.17
Hard Invalidation680.73
Target Completed40.0%
Invalidation10.0%
No Completion50.0%
If Day 1 Does Not Complete
Day-2 continuation40.0%
Continuation reference690.17
Day-2 reversal20.0%
Reversal confirmation683.74
Actual Next-Day Audit
INVALIDATED
The published invalidation price traded during the next regular session.
Open / High / Low / Close687.83 / 690.00 / 680.37 / 682.39
General-purpose market observation.
Nothing on this page is a recommendation, solicitation, personalized advice, or an instruction to buy, sell, hold, open, close, or size a securities or options position.