Morning Market Notes 01-16-25
Market Calendar
$SPX & $QQQ
$QQQ & $SPX 01-16 levels from 0DTHERO
In yesterday’s notes, we mentioned that the move was already made pre-market, and that’s exactly what happened. $ES_F moved over 120 points compared to $SPX’s relatively tame 50-point range.
Per 0DTHERO, we see a shift upward on walls across the board. This is somewhat bullish, considering we’re heading into OPEX tomorrow.
But here’s the catch: all these movements are happening within this short-term expiration window. After tomorrow, when all this money is either removed or rolled to different strikes, things could change very quickly.
For now, there’s no reason to doubt the data. Any move toward 5900 $SPX, which is the put wall, can likely signal a strong reversal incoming. That’s the key level I’m watching.
Let’s have a sesh.
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