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It has come to my attention that some people don't like to use the internet for one of it's intended purposes; searching out information.
So, with that in mind, I'll refer you to specific links that explain what the abbreviations mean that I used in yesterday's post.

IB_high/low - IB stands for Initial Balance, read about it here

o/s_high/low - O/S stands for Opening swing.  It's something used on the E-mini, but I find there to be an equivalent in the SPY.  You can read about it here.

o/n_high/low- o/n stands for overnight, can also be referred to as pre-market or Globex session.  I'll let you Google that one on your own :)

SPY week

Weekly overnight and regular trading hour ranges.
Monday:  Stayed within the overnight range

Tuesday:  Breakout of the overnight highs just after the open, extending out to the 100% projection

 
Wednesday:  FOMC day.  Overnight highs were contained, while the lows broke and extended to the 100% projection lower, finishing right at the o/n session's midpoint.

Thursday:  Big trend day down.  Notice how long price oscillated around the o/n_lows before breaking.

Friday:  For the most point held the midpoint before extending higher to the 50% projection.

this week in SPY

This week's trading in the SPY with pre-market activity.  Vertical blue dash line is the regular trading hour open, fuchsia horizontal lines are the overnight highs/lows.

Monday - Trend day from the beginning.  Notice how the first 5-minute bar cut right through the o/n_lows and didn't look back, making it difficult to enter if looking to short a pullback. 

Tuesday - A false breakdown of the o/n_lows leading to a squeeze in the other direction.  Support at the o/n_highs eventually holding and extending into the 150% projection.

Wednesday - Price holding the o/n_lows, attempting to break the o/n_highs and eventually selling off down to the 50% projection.

Thursday - A narrower o/n range with an early breakout to an eventual tag of the 100% projection.  Late afternoon pullback coming very close to the o/n_high and extending higher on extreme volatility.

Friday - o/n_lows hold and move higher throughout the day.

spy o/n

Meant to post over the weekend the SPY weekly trading ranges; premarket and regular trading hours.  Blue vertical dash line is the market open, fuchsia horizontal line is the overnight high/low.
Monday:

Tuesday:

Wednesday:

Thursday:

Friday:

overnight range

  If you follow any market with active overnight/pre-market trading this is probably elementary to you, but I thought I would highlight the significance for those that may not be aware.  Knowing where the market traded before Regular Trading Hours (RTH) begin is incredibly useful in framing the context of where price is, or where it may want to go (after all, it is an auction process that tests back and forth to gauge interest in higher/lower prices).
  So, before the market opens at 9:30a.m. EST (8:30 CST my time) I frame the highs and lows of the pre-market in the SPY.  These levels are indicated by purple horizontal lines in the charts that follow (where p/m_H refers to pre-market Highs and p/m_L refers to pre-market Lows).  The vertical blue dash line indicates the open of RTH.  In the chart below we can see how closely this compares with the futures globex market on the right (the E-mini S&P in this example):

Along with the p/m_H & p/m_L I like to extend Fibonacci projections off these levels in 50% increments.  So, starting with trade from Monday May 21 here we have the SPY with pre-market included.
Monday was a trend day up, but notice how price behaved at both the p/m_L & p/m_H before breaking out:

Tuesday May 22nd; a test higher (just beyond a 50% projection of the overnight range) and a test lower (nearly to the penny of a 50% projection) before settling back around the previous day's close

Wednesday May 23rd; A narrower overnight range where on the open the p/_H was rejected and price moved swiftly lower to a 100% projection of the overnight range.  Eventually however, price rallied higher, extending to the 100% projection on the upside (notice how it gets caught up on the p/m_L, needing to pull back before it can take off).

Thursday May 24:  A very wide o/n range and being a range-bound market in this instance, price tests both extremes:

Friday May 25; A quiet pre-holiday environment where price based along the p/m_L for most of the afternoon before breaking lower and reversing on the 50% projection.

Anyway, to get an idea of where you're going it helps to know where you've been.

SPY o/n

Active overnight sessions come into play during the regular session