SPY at Critical Risk Off Gamma Zone
According to Spot Gamma, below 4,200 on the S&P is risk off. Let's see if the bulls can recover and get us back above this critical level, or if the bears hammer us lower and take advantage of the BTFD volume. We're sitting just above trendline support (in green), and MA supports just below (21EMA and 50DMA). If we see any real risk off moves today or tomorrow on Quad-witch, this light volatility could spiral into a full blown correction. It's about time...
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