Key $SPX levels I'm watching today:
5990–6000: Resistance zone. Sellers likely step in here if we push higher. Watch for rejection wicks.
5950–5960: Current consolidation range. Holding above this keeps the bid intact.
5920–5930: First support. If we break below, I'm looking for a flush toward 5900.
5900: Major support and prior breakout level. Losing this opens the door to 5850.
Bias: Neutral to slightly bullish above 5950. Below 5920, I'm flipping short-term bearish and watching gamma unwind into month-end. If you're running premium strategies, this range is your friend — sell calls into 6000, sell puts into 5900. If we break out above 6000 with volume, that's a different setup entirely.
Staying patient. Let price come to the levels.
5990–6000: Resistance zone. Sellers likely step in here if we push higher. Watch for rejection wicks.
5950–5960: Current consolidation range. Holding above this keeps the bid intact.
5920–5930: First support. If we break below, I'm looking for a flush toward 5900.
5900: Major support and prior breakout level. Losing this opens the door to 5850.
Bias: Neutral to slightly bullish above 5950. Below 5920, I'm flipping short-term bearish and watching gamma unwind into month-end. If you're running premium strategies, this range is your friend — sell calls into 6000, sell puts into 5900. If we break out above 6000 with volume, that's a different setup entirely.
Staying patient. Let price come to the levels.
