The S&P 500 Index ($SPX) showed significant volatility on the final trading day of the quarter, closing at around the 5,500 level. This key strike level was closely watched by market participants, with many dealers hoping it would pin near this mark. The index experienced fluctuations, reaching a high of 5,523 before dropping to a low of 5,469.47. The market's behavior was influenced by the quarterly expiration and the upcoming holiday week, which kept implied volatility low. Analysts noted that a close below 5,469.47 could indicate a key reversal, while the 5,511 support level held firm, suggesting potential stability heading into the next week.
#ES_F | $SPX Weekly Plan | July 1-5 π π¨ Daily: BALANCE π© Weekly: OTFU π© Monthly: OTFU For this shortened week, our main focus will be on the current multi-day balance area, specifically its value area ranging from 5525 to 5555. Responsive two-sided activity is expectedβ¦ https://t.co/qZCEnplDGe
As posted, its the final hour of the quarter, expect closing noise/volatility in #ES_F. We saw a quick flush down to 5511 support which held exactly to the tick, then bounced right back up to square #1 to that 5535 No change for next week: 5519 must hold to keep upside live https://t.co/aK6s831D9q
$SPY S&P 500 ETF trading well off early morning high. Breakout over 550 targets 565-575. Pullback supports reside at 20-day MA, then 50-day MA. #IBDPartner Join @MarketSurge today and save 80% β> https://t.co/M9dl0wflVQ https://t.co/WL27HqKJg0
$SPX may be setting up for KEY REVERSAL, a close below yesterday's low will confirm it. High at Daily 3 at 5523 // now trading down to the lower Daily 1 at 5469.47. https://t.co/XLdJkR1A4D
$SPX may be setting up for KEY REVERSAL High at Daily 3 at 5523 // now trading down to the lower Daily 1 at 5469.47 https://t.co/QyJtSvVm2I
$SPX may be setting up for KEY REVERSAL High at Daily 3at 5523 // now trading down to the lower Daily 1 at 5469.47 https://t.co/aymkKY6cs1
$SPX big fade back under 5500 today after price squeezed up through it earlier in the session. Will want to see how the market closes today heading into next week. Until 5446 fails, hard to see follow through lower. https://t.co/OJBksMulpc
$SPX one big chance is on the way https://t.co/ii8ndFfcbi
$SPX distribution looks better shape than NQ. The #JHEQX short call at 5515 was tagged and market traded up to upper Daily 3 and that is where market shorted it back down. This day may be done. @VolSignals @OptionsDepth https://t.co/df1ITVHDWj https://t.co/MRoDZtmZ2q
$SPX will be pinned right at 5,500 eod. Give or take a few points. Mark it.
SPX getting back to that 5500 key strike for todays quarterly expiration, lots of dealers would like it if it pinned nearby here.
$SPX +1% 5537.70 = #ES_F "fair value" @ 5601.50
$SPY $550 Boom
$SPX 5,500 is a giant magnet level 𧲠https://t.co/iVqSNfaeJT
$SPX need to break 5505.6+ possible pull back some then slow watch this later need to be balanced first https://t.co/7Q8WuYEZbL
Final day of quarter and $SPX nearly got to that JPM collar short strike of 5570. They will roll to Sept 30th later today so could cause some intraday volatility along with normal quarter end stuff but implied vol's remain anemic into holiday next week so grind up to 5550-5600β¦