Futures are up 20 handles, to 3880. With Fridays expiration, the S&P should move away from the 3835 area pin that dominated into year end. 3900 SPX to 3913 (SPY 390 Call Wall) is first resistance overhead, with no second resistance line until 4000 (SPX Call Wall)....

Futures have consolidated to 3850, which implies an SPX open near the JPM collar call strike of 3835. We see resistance today at 3850, 3868, then 3900. Support shows at 3800, then 3765 (SPY Put Wall). As we detailed in yesterdays AM note, there are likely some...

Futures are up slightly to 3820, suggesting an SPX open near 3800. The SPX Put Wall has rolled lower to 3700, with the SPY Put Wall remaining at 375. We therefore shift our major support line down to 375 SPY (3765SPX). 3800 Now becomes the pivot line, and 3835 is...

Futures, and key SG levels, are unchanged. Support remains at 3835, then 3800. Resistance is at 3850, then 3900. We continue to look for mean reversion on moves away from the 3835, and this should continue in through Thursday. We see little reason to shift from our...

Futures are modestly higher to 3892 as we enter the final week of trading in 2022. SG levels are little changed from last week, with major resistance at 3900. Support below shows at 3850, 3835 then 3800. We remain of the opinion that the S&P holds the 3800-3900...

Futures are up slightly to 3960. Key SG levels are again unchanged, with resistance at 3850, then 3900. Support shows at 3835, then 3800. Breaking 3775(SPY375 Put Wall) continues to mark the point at which “the bounce is gone”. Core PCE & Durable Goods data are...

­Futures are off slightly to 3900. Key levels, and IV dynamics, remain unchanged. Resistance remains at 388SPY/3880SPX, then larger resistance at 3900. Support shows at 3850, then 3835. We anticipate 3900 resistance holding, as we believe the combination of traders...

Futures are modestly higher to 3871. Key SG levels remain largely unchanged, with 3835 being the key pivot strikes. Critical support remains at the 3800 Put Wall strike. Resistance above is at 3875 (SPY 380), then 3900. This morning is VIX expiration, however we do...

Futures are now back to last nights close near 3850, after overnight lows of 3803. The move was triggered by unexpected BOJ rate changes. While we have no view on BOJ impacts, we do think that surprise moves like these can be catalysts for volatility (i.e. movement in...

Futures have dropped ~1% to 3885, indicating the S&P is set to open near 3855. 3900 is the major level today, and overhead resistance. This is followed by 3925 (Vol Trigger), and 3950. Key downside levels are 3878 and 3800 (SPY 380 Put Wall). We continue to favor...

Futures have slid lower to 3990, down ~1%. 4000 remains the massive level here, which we see as overhead resistance into tomorrows huge OPEX. Below 4000, key levels are 3960(SPY395)-3950, then 3900 support. The implied volatility deflation along with tomorrows giant...