Final TakeI think we will have another kangaroo like trading day where price floats one direction, reverses in another direction. The Gamma data is clearly articulating this and one of the key levels at 4050 or 3950 will need to break to set us up for the next sustained run or leg.Based on the data we should trade within 3955-3985. My general lean is more bearish than bullish. Remember, typically until tomorrow and it ramps more into next week, Vanna and Gamma play a lesser role in what the market does. Dealers are hedged…so that means whatever the customers (institutional or hedge funds or retail) do the market will freely move until we hit one of those key Gamma levels.Stay #paytient and react to the key levels - no predictions! Good luck traders.
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3/1 SPX, SPY, ES Trade Plan
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Final TakeI think we will have another kangaroo like trading day where price floats one direction, reverses in another direction. The Gamma data is clearly articulating this and one of the key levels at 4050 or 3950 will need to break to set us up for the next sustained run or leg.Based on the data we should trade within 3955-3985. My general lean is more bearish than bullish. Remember, typically until tomorrow and it ramps more into next week, Vanna and Gamma play a lesser role in what the market does. Dealers are hedged…so that means whatever the customers (institutional or hedge funds or retail) do the market will freely move until we hit one of those key Gamma levels.Stay #paytient and react to the key levels - no predictions! Good luck traders.