Futures are down slightly to 4025. Key SG levels in the S&P are largely unchanged, with resistance remaining at the 4050 SPX Call Wall, followed by 4064 (SPY 405). Support shows at 4020 (SPY 400), then 4000. We anticipate 4000 will hold as support today. While...

Futures held a remarkably tight 15pt range overnight, sticking to 3985. The S&P is in no mans land with both price and IV in a very neutral position. Resistance for today is at 4000, then 4015 (SPY 400). Support shows at 3965 (SPY 395) then 3950. 3915 (SPY 390)...

Futures are down 15pts to 3930, which is near the SPY 390 Put Wall. SG levels are little changed, with 390 SPY (3915 SPX) – 3900 SPX as critical support. A break of 3900 implies a test of 3860. Above we see resistance at 3960-3970 (SPY 395 equivalent + Vol Trigger)....

Futures are up fractionally to 4005. 4000 remains the major strike to watch, but there was a shift in our data as the SPX Call Wall moved from 4000, to 4050. The SPY Call Wall holds at 400 (SPX 4015). Based on this we now consider an SPX move > 4000-4015 as valid...

Futures have pulled back some to 4005. As we shift into a light positive gamma position, our implied range on the day now declines to 0.99% (from ~1.2% readings last week). SG levels remain largely unchanged, with 4000-4015(SPY400) serving as major, Call...

Consumer price data came in as expected, and this resulted in some dovish price action. The S&P 500 (INEX: SPX), after a volatile first hour, ended the day higher, short of our $4,000.00 Call Wall. Note that this was a level we said the index was likely to...

Futures are steady near 3950, with traders pricing in very low volatility for today. Todays ATM straddle is just $26 (ref 3925). Large support for today is at 390SPY (3915SPX) to 3900 SPX. Resistance is at 3923 then 3950. Note this creates an effective range of...

Futures have slid lower to 3890 ahead of Powell’s 9AM ET speech. Key SG levels are unchanged, with the exception of the Vol Trigger which is now at 3900. This helps to reinforce 3900 as the key bull/bear pivot line. By default our models are bullish while the SPX is...

Futures are currently higher, near 3925. Key SG levels remain largely unchanged, with our major pivot level at 3910 (SPY 390 Call Wall), with resistance at 3950 & 4000 (SPX Call Wall). Support shows at 3870, 3860(SPY385) & 3850. The bottom line here is that we...

Futures are flat at 3830 as traders await the 8:30 AM ET Nonfarms print. This data release should drive some early volatility, with options traders pricing an ~1.5% SPX move on the day. There were a few small changes to SG levels, namely the shift down in both SPY/SPX...

Futures are up slightly to 3878. This morning the market contends with 8:30AM ET jobless claims, followed by Nonfarms tomorrow AM. Key SG levels remain unchanged, with major resistance holding at 390 SPY (3910 SPX). The pivot area holds in the 3945-3955 area (Vol...