Gamma has crept up with price action, as the S&P500 shifts to positive gamma above 2891.00. VIX is a bit higher this morning, tagging the 33.00 (+/-) zone in early trading.
SPY Zero Gamma 289
As VIX fades and gamma renders more positive levels, price action should continue to narrow in its daily ranges. The 9ema and 21d are just below supplying support as prices rise.
RSI is above 50 and rising, in addition to MACD, as the trend continues.
Futures are off the highs of the session, drifting lower into the ADP unemployment numbers, with The number of Americans applying for initial unemployment benefits decreasing to 3.83 million in the week ending April 25.
Continuing claims jumped to a record 17.99 million in the week ending April 18, the report said, up from 15.81 million a week earlier. Continuing claims data is reported with a one-week lag.
Look for the markets to digest these numbers in the first few hours.
Join us today in the trading room for our LIVESTREAM broadcast
during market hours, as we navigate the current environment. Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.
Want to become a member? Check details here:
Disclaimer: Do your Own Research
Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advice” to enter any particular position or asset.
We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.
Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned.
*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities.
As always, the use of technical and fundamental analysis is encouraged in order to fine-tune entry and exit points to average seasonal trends.
These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.