DarkpoolGhost

DarkpoolGhost

We have one large gap above and 2 gaps below. As usual, 4300 and 4200 are the whole number support. Above 4325; we can go for the gap fill to 4400-4405. Over 4405 is 4465 Below 4300 is 4200 and then 4150 then 4100. Remember, the JPM collar is calling for 4500 above and then 4050 below.

DarkpoolGhost

We have 3 gaps below to 4000-3960. Right now the support area is sitting at 4300-4260 where SPX is indicating we will test this upcoming week. We do have a gap above at 4400 that I expect a possibility to be filled if bears cover. 4300 hold we could bounce back to 4355-4400. 4300 break we test 4260 then 4200 followed by 4100 4000 then 3960.

DarkpoolGhost

SPX 4450 is still the key line in the sand for bulls to defend and bears to overtake. Even if Bears win, there's strong support at 4425-4400. Belo 4400 is where the fun begins down to 4350-4300. If Bulls hold 4450 we could attempt a gap fill above back to 4500

DarkpoolGhost

SPX 4450 is the key line in the sand now. A head and shoulders is forming on the 2hr and based on option flow could complete early to mid week. Bear: Below 4450 with a target of 4400 and below that 4350-4300. Bull: Above 4450 with a target of 4500 and then 4530-4560. We also have CPI and PPI this week. To add it is also OpEx - wonderful. Could potentially...

DarkpoolGhost

SPX 4500 still remains the key crucial support area. We saw today Sep 01 how they brought it down to 4501 and held it all day. Short week next week so we could FULLY expect to see a move back up to 4525-4530, over that 4550 then 4580-4600. Under 4500 fully expect to see 4480 get contested. Below that don't expect and support until 4450 then 4420 and POSSIBLY 4400.

DarkpoolGhost

SPX 4400-4355 is no mans land. Below 4355 we're in free fall territory to 4300 followed by 4250-4200 and extreme 4175. Above 4400 we can test 4450-4460 and over that a squeeze potential to 4510.

DarkpoolGhost

We're at a point where 4350 has to hold at all costs. If it does, option flow is seeing a possible test of 4400 4415 4435 above. That said however, if 4350 fails, we could dump right down to 4200 then 4175.

DarkpoolGhost

4500 remains a key line in the sand. Above 4500 can test 4525, 4540, 4575 then 4600. Below 4500 can test 4480, 4460, 4400 then 4360.

DarkpoolGhost

SPX 4580-4600 key flip point. Above 4605-4650. Below 4500-4490.

DarkpoolGhost

4400 remains to be the line in the sand. With CPI on Wed, the targets below are 4375-4350. Above we can test 4440 and over that 4450-4465.

DarkpoolGhost

Options premium is indicating 4450-4435 is key flip point. If 4435 gives out, we could drop to 4400 and 4375 below that. Hold the 4435-4450 area and we could ramp 4500-4525 by end of the week.

DarkpoolGhost

We broke a critical level at 4400 and have been floating down in a channel to 4350 ever since. Now 4350 remains a crucial pivot. Below 4350 we test 4300 and below that we test 4250. Hold 4350 and we can get back to 4370-4375 where Friday option data is showing a potential pin with 3500 contracts of 4375p short and 5000 contracts of 4370c short.

DarkpoolGhost

SPX flow from Friday is indicating 4400 as the flip point for this short week. Key word, short week. If 4400 holds, we could melt up to 4450 followed by 4475 then 4500. Now, 4500c and 4500p are both SHORT. So don't expect a break over. That being said, if 4400 breaks and we slide under, 4350 is the first target then 4300. Good luck.

DarkpoolGhost

We have monthly OpEx this week and futures contract rollover. Options are pointing to a move down to 4250 on SPX first and then based on CPI and PPI, a potential dump to 4150 or a ramp to 4400. Expect a 125pt move from 4300 above/below. Flip point would be 4290-4310 , can treat that as no mans land.

DarkpoolGhost

Great breakout and gap fill on SPX however, we should come back and test the breakout area of 4260. If it holds, we could easily crest over 4300 and continue to the weekly top at 4400.

DarkpoolGhost

A great bullish week May 29; however it was suspiciously a large liquidity exit into strength. I full expect a move up to 4260-4270 followed by a dump back to 4150. Alternatively, if we dump to 4150, we could hold and move right back up to 4260.

DarkpoolGhost Updated 

We should see a pullback to 4150 then if it holds (where the previous breakout was) then a run to 4260 post NVDA earnings should occur.

DarkpoolGhost

Bears definitely felt the squeeze these past few days as we finally broke over 4140 on SPX and held. The squeeze was impressive to 4170 followed by a crack of the daily resistance of 4200! We'll see tomrrow if we come back to backtest 4140-4150 or continue the ride up to 4225.