SPY + IWM + QQQ
Spy finished at the 680 gamma wall with nodes above and below 685 and 677.
same for IWM
nodes at 265 (resistance wall) and 270 (resistance wall)
QQQ is looking more bullish than the rest
with support node at 608 and 615 (resistance) and 620 (resistance)
while we do have a bit of downside for all, its looking like market doesnt want to drop just yet.
looks like 675 was in play the whole time.
going into tomorrow looks like 680 is the vex ceiling. if it can hold 675 overnight.
failure to hold it we may see another test of 665.
Going into Monday, $QQQ is sitting on a minefield of negative gamma below.
$580 → -29.5K (4/6 & 4/17) $575 → -21K (4/17) $570 → -38.6K (4/17) $560 → loaded
Meanwhile there's a pocket of positive GEX at $590-$595 (4/6) acting as a magnet above.
Dealers may push this up early in the week before gravity takes over.
With April OPEX on the 17th, that negative exposure has a ticking clock on it.
that huge rejection of 645 was perfect.
all the way up to 658.
and we have a very interesting set up going into monday.
looks like we see more downside.
we called out spy in the morning for this big push towards 690.
price was pinned between 688-690.
spy continues to be stuck between these levels through out the day, notably wanting to push higher towards the 693 area.
#GEX#SPY#stocks#options#TradingCommunity $SPY