SPY is under 200SMA at $660. So now we have 4 key levels of support on DAILY chart (bookmark to review later)
1. $652-key level of support held the whole market up but this broke on Friday with volume. Its going to act as heavy resistance now.
2. $643-support level before the massive rally towards $697 so its going to be tested and consolidate it here.
3. $634-If the war last between 1-3 months we are going to see this area which from the chart held multiple times and confirmed buyers. 30% chance we'd get here in April.
4. $620-SPY I'd argue this would be SPY maximum bottom as it would also be 10% correction area from $697. SPY can easily hit 20% drawdown from $697 if this war last longer than 3 months.
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For tomorrow-
The profile leans a bit more bearish on the session. The only way this will be bullish is with a open/hold above 6545.
6520 will be a make or break losing that you will see 6500/6475 print imo.
All based on current data, will update tomorrow if needed. See you in the #PMFS
Source: @OptionsDepth
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🟦- Pivot
🟥- Resistance
🟩- Support
$SPX
🚨 $SPX Gamma Map Update – 7/7
🎯 Pivot = 6270
📏 Straddle = ±28pts → Range: 6222–6278..will update at #PMFS
📉 Dealers are short gamma <6250 → expect amplified moves & volatility in this zone
📈 Above 6270 → pockets of long gamma offer stability + mean-reversion
⚠️ Key Strikes:
6230: heavy short gamma (-3972) = fire zone
6340: massive long gamma (+10,692) = magnet above breakout
👀 Eyes on 6250, price below opens the door to fast drops. Above 6270, dealers likely pin/chop in this range.
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