Futures have jumped higher to 4000, which is major resistance. Resistance above is at 4015 (SPY 400), then 4030 (SPY 402 Call Wall). Support below lies at 3975, then 3950. We favor 0DTE flow to come in and lock down price with 1% of 4000 for today. Yesterdays probe...
MAR 02 2023 Founder’s Note for: 2023-03-02 06:16 AM EST Macro Theme: Key Levels: > Major Resistance: $4,100 > Pivot Level: $4,050 > Critical Support: $4,000 (SPX Large Gamma) > Key Dates: 3/17 OPEX > Major risk lies on a break of 3900, as dealers may...
Futures have recovered back to the 3990 area, from overnight lows near 3950. Key SG levels are again unchanged, with 4000-4015 serving as the first resistance/ long term pivot point. Resistance above 4015 lies at 4050. Support below sits at 3957 & 3950. While the...
Futures are up reverted back to 4000 from overnight lows of 3972. Key SG levels were unchanged overnight, with 4000-4015 (400 SPY) as the pivot area, and initial overhead resistance. Resistance above this line is 4050, with support at 3974, then 3950. It’s important...
Futures have pressed higher to 4000. 4000 remains an important market long term pivot point, and first resistance for today. Above that we mark 4015 (SPY400) then 4050. To the downside we see support at 3950. Fridays price action confirmed a key theme that markets can...
Futures are holding steady at 4010, which implies the SPX is set to open at the very large 4000 gamma strike. Key SG levels are largely unchanged, with 4000 now as our pivot and 4050 overhead resistance. Key levels below are 3950, then 3900. Our eyes continue to be on...
Futures have broken lower, to 4070. We note several downside support levels just under current prices at 4060 (SPY 405) and the 4050 SPX Put Wall. Beneath there the next major level is long term 4000 support. Above we mark 4100-4110(SPY410) as resistance, followed by...
Futures were quiet overnight, holding near 4160. Key SG levels reflected moderately bullish positioning, with the SPX Call Wall flipping back up to 4200. 4200 is our max high for today and into tomorrow. 4150-4160(SPY 415) is the pivot area, with 4110(SPY 410) – 4100...
Futures are off slightly to 4135. We have seen a shift lower in the SPX Call Wall to 4150 SPX , which is a bearish signal. This implies that the SPX has heavier resistance at the 4150 area, and that the S&P will likely not break above 4160 (SPY 415) today. It also...
Futures are higher to 4150 as markets await the 8:30AM ET CPI print. Key SG levels are unchanged into the print, which means that we mark 4200-4210(SPY420) as our resistance line for today. Initial support shows at 4110(SPY410) – 4100. Below there we mark 4050, and...
Futures are steady overnight, holding 4075. We are obviously anticipating high volatility today due to the 2pm ET FOMC. Key resistance is the 4100- 4115 (SPX Call Wall – SPY 410 Call Wall). We also flag 4050 SPX & 4065 (SPY 405 equivalent) as a current pivot area,...
Futures are flat to Fridays close at 4102. We are expecting low volatility today as trader await tomorrows CPI print. In line with that, Key SG levels are little changed, with $4100-4110(SPY 410) being the pivot area. Resistance above lies at 4150-4160(SPY 415)....