👇🏼 $SPY MARKET ROTATION!
• Clean rotation in the market today with tech selling and $IWM ravaging to higher targets.
• Consolidation on SPY before the next move, potentially to the upside here in the chart.
• 618.5 breaks and above the trendline resistance we can see a quick ramp towards 620-621 zone.
• If the lower trendline breaks best to wait it out and stay out the market in this positive gamma territory.
FLOW UPDATE: $IWM 215C picked up for 7/11 flipped for 2M intra day. Lot of calls on $RUN picked up for August. $AMZN calls picked up on weekly into close for 225C. $AAPL rolled the calls to a different strike.
If you like my analysis hit the ❤️ and repost.
📈 $SPY STOPPED RIGHT AT THE BEAR GAP!
• Bears got nothing again and need some Chinese guns supplied soon.
• Bulls breaking 602.5 tomorrow can see 605 and 610 higher, can happen with Xi and @realDonaldTrump talk.
• Market has all the bad news to go down but AMERICA FIRST is working w.r.t these tariffs and negotiations. I am saying this purely based off the price action in the market.
• Bears need under 600.
FLOW UPDATE: $TSLA 420C 425C both on the flow.
TRADE IDEA OF THE WEEK: $LLY Another 50%+ trade before earnings and a beautiful push through.
If you like my analysis hit the ❤️ and retweet!
📈 $SPY INSIDE DAY.
⚠️ PPI Out pre market tomorrow.
• A beautiful inside day into PPI and then we have OPEX next week.
• Usually October OPEX weeks are bullish biased with strong momentum on chips.
• $VIX staying elevated like this and macro data off the charts this can lead to some crush while still maintaining above 17 until after elections.
• Bulls have to hold 574.5 and the trendline SPY broke out of recently. Not a bad area to buy the dip on the trendline retest.
• 577 break can see 580 tomorrow. 5800 on SPX is a huge GEX level and gamma resistance currently.
• $QQQ bear gap is still open and a possibility of gap up creating an island bottom is also something we talked about. Need that gap filled or gap up above and hold we can see 515 by end of year on there.
FLOW UPDATE: $AAPL 230C calls were bought into last 10 mins of the day, while $NVDA 132P and 133P were bought on weeklies. $NVDA some major action brewing here with 149C 150C 151C 158C bought for March next year!.
If you like my analysis hit the ❤️ and retweet!