GammaEdge

$SPY and $QQQ the power of understanding key levels and market structure. When we move through these key strikes important market dynamics have to occur.

$SPX structure: 🔴Put dominated to start the day indicating accenuated price movement in both directions. 📣GEX/DEX transition is EXTREMELY WIDE, this is indicating as you would expect more uncertainty in market participants positioning. What does this mean for you as a trader: This should be your warning for smaller position sizes, reduced time frames and possibly not trading at all until a better risk vs reward structure appears. The best decision sometimes is no decision at all in trading and protecting your capital. Key Levels: 6750 upper strike that has significant OTM calls and charm headwind for the day. 6730 top of DEX transition and logical stalling point for any move up. 6700 round psychological level and OTM put dominated if we are above with supportive charm. 6685 short put strike and just above the bottom of the DEX transition at 6680 where we could see price interact. 6660 strike below DS (drunken sailor/orange box) and should be first strike on signficant weakness where the market could stabilize.

$SPX this is one of our essential tools in understand market structure as spot price is moving premarket. If we continue to live below 6700 we will have a signficant headwind to price appreciation. The bulls will need to recover this strike pretty quickly.

$SPX structure: 🔴Put dominated to start the day indicating accenuated price movement in both directions. 📣GEX/DEX transition is EXTREMELY WIDE, this is indicating as you would expect more uncertainty in market participants positioning. What does this mean for you as a trader: This should be your warning for smaller position sizes, reduced time frames and possibly not trading at all until a better risk vs reward structure appears. The best decision sometimes is no decision at all in trading and protecting your capital. Key Levels: 6750 upper strike that has significant OTM calls and charm headwind for the day. 6730 top of DEX transition and logical stalling point for any move up. 6700 round psychological level and OTM put dominated if we are above with supportive charm. 6685 short put strike and just above the bottom of the DEX transition at 6680 where we could see price interact. 6660 strike below DS (drunken sailor/orange box) and should be first strike on signficant weakness where the market could stabilize.

$SPX no change and cruising into the close with choppy sideways action and contained between call vs put speculation.