Morning Market Notes 04-15-25

Market Calendar

$SPX & $QQQ

Happy Tax Day to those who celebrate.

Gamma exposure for $SPX through next expiration is clear at this point. The $SPX 5,500 level is the big boy, and we give a slight edge to slow upside continuation with low volume through Thursday.

A strong break below 5,400 could start to suggest otherwise, but it will need a real catalyst.

Let’s have a sesh.

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