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The SPX (S&P 500 Index) and QQQ (NASDAQ-100 Index) have entered negative gamma territory, which is expected to result in significant intraday volatility. Negative gamma implies that market makers may buy on rips and sell on dips, contributing to elevated market fluctuations. The key levels for SPX this week include a negative gamma flip at 5,540, with lower support at 5,350 and upper resistance at 5,530. Traders are advised to exercise caution in this environment.
We remain deep in negative gamma territory to start the week, with the flip calculated at $SPX 5,540. This environment portends to elevated volatility, as it is more likely that rips will be bought and dips sold by dealers. Trade carefully. https://t.co/DTw0d9eoxy
Current negative gamma level: 5400 Lower support: 5350 Upper resistance: 5530 $SPX Levels for the week https://t.co/SboSXZ09sd
QQQ just like SPX is opening in negative gamma. These are the key levels you want to keep an eye. In negative gamma you can expect wide swings intraday https://t.co/btmxvEDDxC
