Market Context: Markets are attempting to maintain a bullish, positive gamma position while digesting large stock gains from the past several weeks. Absent a near-term catalyst (i.e. no OPEX or events) options positions need to build at or above current levels...
Markets are attempting to maintain a bullish, positive gamma position while digesting large stock gains from the past several weeks. Absent a near term catalyst (i.e. no OPEX or events) options positions need to build at or above current levels ($4,100) to maintain...
Futures have held flat overnight, trading near 4125. Our Call Wall levels have jumped higher to 420/4200 in SPX, which is now the top end of our trading range. As our volatility estimate is 1.13% for today (46pts), we do not see the Call Wall level(s) in play for...
An overnight pop in futures has ES trading at the 4100 Call Wall resistance line. Resistance above shows at the the 412 SPY 412 Call Wall (~4130 SPX). Support shows at 4050. Our general SG model assigns a bullish edge to markets while the SPX > Vol Trigger...
S&P 500 Levels: $4,000 is significant overhead resistance. $3,900 is a pivot above which volatility should decrease. $3,800 is major support below which there may be an accelerated sell-off. What To Watch: Bulls have the edge if markets can hold $4,000, however...
Futures have pushed back into the 3950 area – a key pivot area. Support shows at 3935 (Vol Trigger) then 3900. Resistance is at 4000. All eyes are on the 2pm ET FOMC meeting, which likely triggers the next large directional move. Volatility has been contracting the...
Larger ranges following the July 15 (equity) and July 20 (VIX) options expirations. Equity markets may jump into the Wednesday, July 20, 2022, VIX expiration. Implied volatility is likely to rise as we approach the July 27, 2022, FOMC event. Rally Criteria QQQ/SPY/SPX...
Market Context: Rallies should be categorized as short covering and subject to failure. S&P 500 Levels: $4,000.00 is significant overhead resistance. $3,900.00 is a pivot above which volatility should decrease. $3,800.00 is major support below which there may be...
Futures are at 3991, staged just below large 4000 strike resistance. We look for this 4000-4010 (SPY 400) level to hold as it is the Call Wall for both SPY/SPX. Support shows at 3979 & 3950. 4000 should be considered a magnet here as much as a resistance line. We...
Futures are steady near 3960. Major, long term resistance remains at 4000, with first support at 3950. Larger support shows from 3910 (Vol Trigger, SPY 390) – 3900. Our forecast was for volatility to decline while markets are >3900, and we anticipate that trend...
Futures are down slightly to 3930. Overhead resistance shows at the 3940-3950 range(SPY + SPX Call Walls), then 4000. Support shows at the 3910-3900 range (Vol Trigger, SPY 390, SPX 3900), then 3850. Yesterdays rally was very strong, and syncs with our alert that the...
Futures are higher to 3865 overnight. We once again look for ~1% swings today with resistance at 3900-3910. Support shows at 3850 then 3800. Today is the last trading day before VIX expiration, and this day has been associated with strength in recent months (see...