SPY → $650.00 by Apr 8, 2026.

**Pre-market SPY $656.20 — bearish setup, negative GEX regime** GEX flip is right at $660 with a massive call wall there ($42.17M). That's been the ceiling all week and pre-market is already below it. Net GEX shows that purple strip at $660 — that's the battleground. Below current price the structure gets ugly fast. Put walls stacked at $650 ($27.58M), $645 ($11.49M), and $640 ($41.86M). That's a lot of downside magnets with nothing clean holding us up right now. $655-$656 …