BLUF: SPX still in an Overall-Down-Wave...Let's see what happens? NoBodyFookinKnowsAnything!Incompetence/FOMO/BullShit Rules...Situational Awareness & SpideySense on HI Alert!!!
Cheers...Stay Alert Out there...see your at Happy Hour!
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GammaBros SPX 3324-3330 Zero G/3241 Pos G/HI Put/Call Wall 3200-3350 could Flip to 3200-3100 TBD!
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What you are seeing currently is "Dealer Gamma"....which moves markets Not "Stocks"...expect these "NothingMakesAnySenseMarkets till "Super Tuesday"....the volatility is gonna increase the churn and we will see "Big Moves"....Good Luck...."Markets can stay Irrational WAYWAY Longer than you can stay Solvent!!!" Reply
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The GammaBros will have you believe Gamma is everything....it is Not, more perception now that it has become the great Quant Buzz Word...what it does show is hedging flows....The Zero Gamma is 3240 or the Flip and massive selling....can happen but its not an absolute! What is doesn't show is put/call interest and the other dynamic you always want to look at is "Market Breadth"...with enough time decay you can make any bad trade whole again..."Process" and managing your trades! Find-Fix-Finish! ...once I get my coffee first! is it Happy Hour Yet!
Markets wanted to go Higher and they did...What's in front of us...lots more volatility coming...If it was easy then we wouldn't be here...Cheers!
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All time HI is SP Futures....3357,,,you might see it tonight and odds it stays at this level or higher tomorrow before it even gets a chance for lower...TBD!
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