Gamma Index moves a bit more negative which forecasts higher volatility, however, 2900 still seems the viable range top. Jobless claims are out this morning and could be a catalyst as an unexpected number could potentially shift us out of the 2800/2900 range. We anticipate the range holding, but should we see a large surprise and futures break 2900 then 2900 shifts to support. In turn that could imply a new range of 2900/3000 into next Fridays Monthly OPEX. Conversely, as a break of 2800 could trigger a “gamma trap” situation and possibly a “shock” type move lower.
The above is a quote from spot gamma – please check them out.
SPY 280 zone held. Price closed at the 9ema, with futures higher and back to the top of the range at 2872, a slight dip after job numbers were released.
Anticipate a sideways range until a catalyst gives us direction. Economic data has yet to do the trick so far, going into the Opening Bell.
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.