$SPY printed $771.23 at 2PM Thursday — and the two-week afternoon fade pattern just died.
For 14 straight sessions, every 2PM read deteriorated. Premium bled. GEX collapsed. Put flow fired. Not today.
Every metric improved at every read:
10AM → 11:37AM → 2PM
Price: $769.04 → $770.09 → $771.23
Composite: +24.5 → +26.9 → +28.8
GEX: -$48M → +$468M → +$659M
Cushion: $3.08 → $4.10 → $5.24
Engine: +8.7M → +65.2M → +124.9M
Three consecutive reads of acceleration. No reversal. No put wave. No deterioration. The pattern broke.
The $780 magnet at +$143M pulls from 1.1% above — that's the cup-and-handle breakout zone.
Puts opened 4.8:1. Calls opened 8.7:1. Calls nearly doubled put flow. Institutions pressing upside into the close.
This morning's call: "7750 depends on whether the 2PM session adds or subtracts."
It added. Across every metric. For the first time in two weeks.
$766 is the flip. $771.23 is price. $775 is the magnet. $780 is the target.
The afternoon held. The pattern broke. SPX 7,751.
For 14 straight sessions, every 2PM read deteriorated. Premium bled. GEX collapsed. Put flow fired. Not today.
Every metric improved at every read:
10AM → 11:37AM → 2PM
Price: $769.04 → $770.09 → $771.23
Composite: +24.5 → +26.9 → +28.8
GEX: -$48M → +$468M → +$659M
Cushion: $3.08 → $4.10 → $5.24
Engine: +8.7M → +65.2M → +124.9M
Three consecutive reads of acceleration. No reversal. No put wave. No deterioration. The pattern broke.
The $780 magnet at +$143M pulls from 1.1% above — that's the cup-and-handle breakout zone.
Puts opened 4.8:1. Calls opened 8.7:1. Calls nearly doubled put flow. Institutions pressing upside into the close.
This morning's call: "7750 depends on whether the 2PM session adds or subtracts."
It added. Across every metric. For the first time in two weeks.
$766 is the flip. $771.23 is price. $775 is the magnet. $780 is the target.
The afternoon held. The pattern broke. SPX 7,751.
