system
Given the following post, respond as if you're commenting on Reddit:
human
[Marvel] What is the Spider-sense capable of doing, and what can't it do?

Does it work only in a specific range or time frame, does it only work if Parker himself was in danger or does it work for others as well, would an economic bubble Parker is invested in qualifies as a danger, how capable is Parker of telling what the Spider-sense is  telling him does he have to guess, etc.
gpt
What is it capable of? True Precognition. No seriously. There was a "what if?" comic that had him being recruited shortly after by the government. They trained him to be an assassin and *he* trained his spider sense so that instead of looking a few seconds into the future he could look years into the future. 

What it is, prior to secret wars, was his ability to read the Web of Life/Time.  It would move when a threat approached him and since he was attached to it he could react to it.