SPY MARKET OBSERVATION • 2026-02-23
SPY Outlook 2026-02-23 — Key Levels & Tomorrow Bias
Review the SPY key levels, market structure, next levels, Tomorrow Bias, and outcome for this date.
Today — Current Session
UB1692.86
UB2696.27
UB3699.68
LB1686.03
LB2682.62
LB3679.21
Prior Trading Day
UB1686.64
UB2689.68
UB3692.72
LB1680.55
LB2677.51
LB3674.47
ACCEPT / REJECT / INTERLEAVED Structure
Market StateAWAITING LIVE STATE
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
DirectionLONG/SHORT
Accepted LevelPublished Acceptance Zone
Confirmation / Trigger694.53
Projected Target694.53
Current StatusNOT TRIGGERED
SPY Reference689.54
General market information only. Reaching a published level is not an instruction to place a trade.
PEER REJECTED INTERACTION
Reversal Plan
DirectionSHORT
Rejected LevelPrior UB
Reversal Confirmation687.03
Projected Target684.99
Current StatusTARGET REACHED
Hard Invalidation692.99
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 — 686.03
OBSERVE NEXT 2
Today LB2 — 682.62
OBSERVE NEXT 3
Prior LB — 680.55
SPY TOMORROW OUTLOOK
SHORT • 72.8% confidence
Watch686.09
Confirmation686.09
Invalidation692.99
Target682.64
Extension679.20
Reversal Confirmation688.98
SPY Level Outlook — Available Pre-EOD
Today LB — 686.09
ACCEPT / CONTINUATION • up projection 691.81 • down projection 680.37 • projected target 682.64 • today status REACHED
Today LB — 685.97
ACCEPT / CONTINUATION • up projection 691.57 • down projection 680.37 • projected target 682.59 • today status REACHED
Prior UB — 686.25
ACCEPT / CONTINUATION • up projection 690.00 • down projection 682.50 • projected target 689.19 • today status REACHED
Today LB2 — 682.64
ACCEPT / CONTINUATION • up projection 684.92 • down projection 680.37 • projected target 679.20 • today status REACHED
Today LB2 — 682.59
ACCEPT / CONTINUATION • up projection 684.82 • down projection 680.37 • projected target 679.22 • today status REACHED
Prior UB — 687.03
ACCEPT / CONTINUATION • up projection 690.00 • down projection 684.05 • projected target 690.17 • today status REACHED
Today UB3 — 699.88
ACCEPT / CONTINUATION • up projection N/A • down projection N/A • projected target 699.88 • today status NOT REACHED
Today LB3 — 679.20
ACCEPT / CONTINUATION • up projection N/A • down projection N/A • projected target 679.20 • today status NOT REACHED
TOMORROW BIAS — OUTCOME & PRICE AUDIT
Confirmation686.09
Primary Target682.64
Hard Invalidation692.99
Target Completed40.0%
Invalidation0.0%
No Completion60.0%
If Day 1 Does Not Complete
Day-2 continuation0.0%
Continuation reference682.64
Day-2 reversal16.7%
Reversal confirmation688.98
Actual Next-Day Audit
TARGET_REACHED
The published target price traded during the next regular session.
Open / High / Low / Close681.90 / 688.35 / 680.00 / 687.35
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.