Futures have pressed higher to 3980. Key SG levels remain unchanged, with a fairly tight volatility estimate of 0.89%. 4000-4010(SPY400) is large overhead resistance, with 4050 above that. Support below remains at 3960(SPY395) – 3950, with 3900 major support below...

Futures are up slightly to 3940, from overnight lows of 3916. 3950-3960 (SPY395) remains first resistance, with 4000 the major level above. Support is at 3900. Our volatility estimates remain near a benign 1%. Traders have built up this “box” of positioning from...

Futures are holding the key 4000 level after a quiet overnight session. This 4000 level remains support for today, with 3975 & 3960 (SPY395) support below. Resistance above shows at 4051. A push below 4000 places markets back into a mild negative gamma stance,...

Futures are off slightly to 4060. First resistance is at 4074, with major resistance holding at 4100 to 4110 (SPY410). First support shows in the 4060(SPY405) to 4050 band, with 4000 major support. We still favor mean reversion, with declining volatility into 12/12....

Futures were unchanged overnight, holding 4075. Resistance remains at a band above from 4100 – 4110 (SPX Call Wall+SPY410 Call Wall). Above there resistance shows at 4126, however we mark any SPX move >4110 as overbought. Support shows at 4050-4055 (SPY405), then...

Futures are off marginally to 4077, after a quiet overnight session. The 4100 Call Wall is now near term resistance, with 4124 over that. Support today shows at 4055 (SPY405) – 4050 with 4000 being major, longer term support. We now look for volatility to begin...

Futures are quiet, trading near 3970. A multi-day string of key data points begins today with GDP at 8:30AM ET, then Powell speaking at 1:30PM ET. Resistance shows at 4000, then 4048. Support shows from a band near 3960 (SPY395) to 3950, then 3890(SPY390 Put Wall). We...

Futures are up some, trading near 3880. 4000 remains the key strike, which we mark as resistance for today. Above that line, resistance is 4024. Support remains at 3960 (SPY395). Overall we see little reason to shift from our core outlook that tomorrow will spark a...

Futures have reverted to 4000 ahead of what should be a busy week. Major resistance remains in the 4050-4060(SPY450 Call Wall) range. Support shows at 3960. 4000 continues to be a “fair value” pivot area for the S&P given the large amount of balanced gamma (i.e....

Futures are off slightly to 4035 on this holiday shortened trading day. The Call Walls for the SPX/SPY are now in sync at 4050-4060(SPY405), which is the major resistance area for today. Support shows at 4024 and 4000. Our theme over this holiday period has been for...