Macro Theme: Key dates ahead: 1/29: FOMC + META, MSFT, TSLA earnings We flip to risk-off if SPX trades <6,000. Upside may be limited into the 6,050 - 6,100 before Thursday's critical session. Key SG levels for the SPX are: Resistance: 6,050, 6,100 Support: 6,020,...

Macro Theme: Key dates ahead: 1/29: FOMC + META, MSFT, TSLA earnings Update: 1/27: We are looking to buy the SPX dip near 5,950, with a stop at 5,900. A break of 5,900 implies a test of the 5,800 Put Wall. Key SG levels for the SPX are: Resistance: 6,020, 6,100...

Macro Theme: Key dates ahead: 1/29: FOMC We are risk off (short delta+long vol) if SPX <6,000. Key SG levels for the SPX are: Support: 6,060, 6,050, 6,000 Resistance: 6,100, 6,110 Founder's Note: ES futures are flat, NQ -40bps. Resistance: 6,100, 6,110 Support:...

Macro Theme: Key dates ahead: 1/29: FOMC We are risk off (short delta+long vol) if SPX <5,975. Key SG levels for the SPX are: Support: 6,000 Resistance: 6,050, 6,075, 6,100 Founder's Note: Futures are +40 bps. Resistance: 6,050, 6,075, 6,100 Support: 6,000, 5,975...

Macro Theme: Key dates ahead: 1/17: OPEX 1/20: MLK (market closed) + Inauguration 1/29: FOMC 5,950 - 6,000 is likely major resistance into 1/17 OPEX. We are risk off (short delta+long vol) if SPX <5,900. Key SG levels for the SPX are: Support: 5,900 Resistance:...

Macro Theme: Key dates ahead: 1/14: PPI 1/15: CPI 1/17: OPEX 1/20: MLK (market closed) + Inauguration 1/29: FOMC 6,050 - 6,100 is likely major resistance into 1/17 OPEX. 1/14: We believe traders are under-pricing volatility, as both SPX & NDX trade at a discount...

Macro Theme: Key dates ahead: 1/14: PPI 1/15: CPI 1/17: OPEX 1/20: MLK (market closed) + Inauguration 1/29: FOMC 6,050 - 6,100 is likely major resistance into 1/17 OPEX. Friday 1/10: This is a high risk environment, wherein a small trigger could elicit a tail move....

Macro Theme: Key dates ahead: 1/8: Jobless claims, FOMC Mins 1/9: Market Closed: President Carter 1/10: NFP 1/14: PPI 1/15: CPI 1/17: OPEX 1/20: Inauguration 1/31: FOMC As of 1/8: 5,800 is now major support. Any rally that fails to close >6k should be seen as a...

Macro Theme:   Key dates ahead: 1/7: PMI, NVDA CES Analyst Day 1/8: Jobless claims, FOMC Mins 1/9: Market Closed: President Carter 1/10: NFP 1/14: PPI As of 1/6: With SPX near 6,000 resistance we shift to a neutral stance, as IV fuel has been drained off....

Macro Theme: Key dates ahead: 1/7: PMI, NVDA CES 1/8: Jobless claims, FOMC Mins 1/9: Market Closed: President Carter 1/10: NFP 1/14: PPI As of 1/6: With SPX near 6,000 resistance we shift to a neutral stance, as IV fuel has been drained off. Upcoming data 1/7-1/10...

Macro Theme: Key dates ahead: 1/9: Market Closed: President Carter 1/10: NFP As of 1/3: We remain in "risk off" positioning until/unless the SPX is >=5,900. Traders met recent downside by selling puts, which suggests a short term rally/bounce is in play. Any rally...

Macro Theme: Key dates ahead: 1/2: Jobs data 1/3: NFP 1/9: Market Closed: President Carter As of 12/31: We remain in "risk off" positioning until/unless the SPX is >=6,000. This means we look to hold longer dated downside hedges, while tactically trading two-way...