Morning Market Notes 01-10-25
Market Calendar
$SPX & $QQQ
$QQQ & $SPX 01-10 levels
An old-fashioned reaction to the Non-Farm Payroll data led to a ~60-point drop on $ES_F—enough to trigger the good ole unc2.0 system.
We’re implied to open below 5900 on $SPX, which fuels the downside. As experienced traders, betting on a direction isn’t sound in this environment. Instead, a possible strangle opportunity might be the way to capture any large moves that remain.
If the S&P fails to recover 5900, testing the next major support at 5800 and touching those open gaps below could be on the table.
Let’s have a sesh.
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