Futures are flat to 3960 after a quiet overnight session. There were two important shifts in SG data: both the Call Wall (4100) and Put Wall (3800) shifted higher, which is a bullish signal. Resistance shows at 4000, with support at 3960 (SPY395) to 3950. Below that...

Futures are down slightly to 3950 into this holiday shortened week (no, not the World Cup, but Thanksgiving in the US). Our updated forecasts shows lighter volatility for this session, with a 1% SG Implied Move. This indicates both 3900 & 4000 are in play for...

Futures are higher to 3980 ahead of today’s monthly OPEX. We see ~30% of total gamma in SPX/SPY/QQQ expiring today, with the bulk of that concentrated in the 4000/400/290 area. For today first resistance is at 3980, with 4000-4010(SPY400) as major resistance. Support...

ES futures are at 4000, down from overnight highs of 4016. Our models continue to point towards mean reversion into that large 4000 strike, with resistance above at 4024 and 4040. Support below shows at 3960. The power of OPEX induced mean reversion was on full...

Futures are higher this morning to 3995. Key levels are for the most part unchanged, with resistance at 4000-4010 (SPY 400), then 4025 & 4048. Support shows at 3960 and 3900. The 4000 strike continues to dominate both in terms of position sizing, and in volume. As...

Futures are off slightly to 3985 after a quiet overnight session. 4000 remains the large resistance/pin area, and is likely in play until 11/18 OPEX. Above that level we note 4024 and 4040 resistance. Support shows at 3976 ad 3948. On Friday we talked about how this...

Futures are higher to 3979, which is off of overnight highs of 3998. This extends the rally from yesterdays CPI number to 5.6%, and clearly brings our major 4000 target level into play for today. Above 4000 we mark 4010 (SPY 400) then 4049. Support below shows at 3958...

Futures are up to 3765 ahead of the big 8:30AM ET CPI print. Key SG levels remain largely unchanged, with resistance above at 3800 & 3850. Support shows at 3700 then 3659. Short dated volatility remains extremely elevated, with IV indicating that traders are...

Futures are flat to last nights close near 3835. SG levels remain similar to yesterday, but there appears to be a bit more of a tilt to new, long put positions. Support shows at 3800 then 3780. Resistance is at 3836 and 3851. The was a lot of bullish momentum...

Futures are higher to 3820 as elections begin in the US. Our Vol Trigger (3800) is sliding higher, indicating puts are being closed and/or calls added. We consider this a flat gamma region, with negative gamma below 3800 and material positive gamma building near 3900....

Futures are higher to 3750. We’ve seen a general slide lower in key SG levels due to the addition of put positions. In general we are marking 3800 as major resistance, and the gamma flip point. Above that level we believe dealers switch back to a positive gamma stance...

Futures are at overnight lows of 3745 from highs of 3780. We see support in the 3710-3700 area, then 3650. To the upside resistance shows at 3750 & 3800, then 3834. We are looking for very high volatility today as post-FOMC macro adjustments are fueled by the...