The S&P 500 Index (SPX) and E-mini S&P 500 Futures (ES) experienced significant volatility over the past week, with trading patterns influenced by gamma levels and options pricing. The SPX traded up and down between peak gamma levels, while the ES traded within expected ranges. The market's movement was characterized by a bearish trend towards the end of the week, with the SPX breaking down below key support levels, including a Gamma Charm Node at 1:30 pm at 5460. The expected monthly range for ES was 265 points, and the weekly range was 83 points, leading to a potential price target around 5455.25. Seasonal forces and post-options expiration effects, including triple witching, also contributed to the market's behavior, with potential downside targets for SPX at 5400 and 5385. The SPX closed right at the 9 SMA, and a break above 5470 could set up another test of 5500.
$ES Daily Plan | June 25 📌 Today’s initial upside momentum tested resistance, formed an excess high, and later resulted in an outside day to the downside, effectively filling the F-period single prints from last Monday. The immediate focus is on observing whether the prices… https://t.co/hDBEjSdnql
#ES_F After a bullish push in the first hour, the rest of the session was bearish with a close near the low. If we stay below 5524, the next downside targets are 5505, 5496, 5488, and 79. A cross above 5524 should test 5529, 34, 41 and 49. #Marketprofile #Volumeprofile… https://t.co/MsYbjUgScS
#ES_F U.S. session (Bearish close) #daytrading https://t.co/0gYuQqMhhS https://t.co/OCb19ivw4p
$SPX hourly 50ema trend briefly broke into the close for the first time since earlier this month. Time for a breather or a quick reclaim tomorrow? Back over 5470 sets up another 5500 test. https://t.co/xZct5Ot9KK
$SPX closed right at the 9 SMA, $SPY just below it. Let's see if the passive boys shoot their wad tomorrow to try a likely bounce spot for quarter end window dressing OR if they wait until later in the week.
$SPY really sinking into the close now under 543, nice move playing out as expected the day after triple witching... would love a gap down for potential turnaround tuesday
$SPX break below 5435 then down more https://t.co/89qwXyfCtT
$SPX hit 5400 at open tomorrow? https://t.co/M2mFaIl04W
Seasonal forces in control today with the post OPEX hangover playing out, see if can get $SPY lower to 540 into tomorrow or Wednesday for the potential reversal off that level. Otherwise 537 gap fill becomes a target into quarter end https://t.co/8fz3mTQ5N8
$SPX if break below 5437 then 5400 5385 see if break below 5400 https://t.co/otcm6S1bhW
$SPX holding p positions exp tomo
$SPX Market is breaking down below Weekly 1 support~ a Gamma Charm Node at 1:30 pm at 5460 and further down at 3:00 pm if needed at 5450/5440. 5450 confluences with lower Daily 1. https://t.co/CkqyQcUGRW
$SPX -- today's short reversal trade that didn't go too far is working out well, market sitting at support at the upper Weekly 1 at 5468.37. So far so good. https://t.co/QGM0VeewkR
$ES end of month is Friday and market has already traded to the expected Monthly Range of 265.00 Points. The expected Weekly Range is 83.00 Points. This may lead price down towards the 5455.25 area which confluences with the Implied Volatility 1/2 Line at 54560/5455 and around… https://t.co/nr1AzLOpDy
$SPX expected GEX for the week at current levels (levels are dynamic and will change throughout week). Note today's positioning appears negative gamma. So we need to see where the Uncle lines are and if they break or fade. I take into consideration where we are in the cycle and… https://t.co/VgaOPtRgz8
The @spotgamma Implied 1-Day Move is the expected price range for the index over the next trading day, derived from current options pricing. Here it is catching the high and low on $ES last week. ✅Learn More: https://t.co/KALKbzb5yo https://t.co/Fhm1dlDcth
Look at @OptionsDepth gamma heat map showing Friday SPX traded up and down between the upper and lower green lines which represent peak gamma levels. Then look at the second screenshot showing ES trading between confluence of upper Monthly 2 with Weekly 1; and the lower Daily… https://t.co/7W49GboLmv