07-21-2021, 05:48 AM
Wednesday SPY @$430 to $433. Probably leans $431
<!-- SC_OFF --><div class="md"><p>So in another thread I made, where I'm testing a method of forecasting price actions based on gamma exposure, I feel confident in forward-testing this further by stating SPY will land somewhere close to $431 tomorrow.</p> <p>If I had to really pin it down it will probably trade around $431.50, but this is a new method for me so who knows, right?</p> <p>I wanted to show my work this time so someone can see it (they asked) and they can ask questions.</p> <p><a href="https://imgur.com/gallery/LnaTcUV">https://imgur.com/gallery/LnaTcUV</a></p> <p>Basically I'm looknig for the strongest (highest) gamma, and considering those "islands of stability".</p> <p>I look for a balancing pivot but don't see any so in this case I think price is going to stick right near the money line at close on Tuesday.</p> <p>The positive gamma (second pic) is high and so price movement should average out to minimal. If it goes -1% it should rebound 2% to +1%, fighting over some net-zero line.</p> <p>Overall I'd expect tomorrow to be slightly red. </p> <p>News will predict this as some "covid concerns still real" but really it's just the market consolidating after a relatively big move (relative to a week time frame or so). The market is entering a consolidation phase and will probably spend 2 days there. I'd have to re-evaluate after tomorrow to determine a direction once the consolidation is entered.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/DarthTrader357"> /u/DarthTrader357 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/oobpxl/wednesday_spy_430_to_433_probably_leans_431/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/oobpxl/wednesday_spy_430_to_433_probably_leans_431/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>So in another thread I made, where I'm testing a method of forecasting price actions based on gamma exposure, I feel confident in forward-testing this further by stating SPY will land somewhere close to $431 tomorrow.</p> <p>If I had to really pin it down it will probably trade around $431.50, but this is a new method for me so who knows, right?</p> <p>I wanted to show my work this time so someone can see it (they asked) and they can ask questions.</p> <p><a href="https://imgur.com/gallery/LnaTcUV">https://imgur.com/gallery/LnaTcUV</a></p> <p>Basically I'm looknig for the strongest (highest) gamma, and considering those "islands of stability".</p> <p>I look for a balancing pivot but don't see any so in this case I think price is going to stick right near the money line at close on Tuesday.</p> <p>The positive gamma (second pic) is high and so price movement should average out to minimal. If it goes -1% it should rebound 2% to +1%, fighting over some net-zero line.</p> <p>Overall I'd expect tomorrow to be slightly red. </p> <p>News will predict this as some "covid concerns still real" but really it's just the market consolidating after a relatively big move (relative to a week time frame or so). The market is entering a consolidation phase and will probably spend 2 days there. I'd have to re-evaluate after tomorrow to determine a direction once the consolidation is entered.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/DarthTrader357"> /u/DarthTrader357 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/oobpxl/wednesday_spy_430_to_433_probably_leans_431/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/oobpxl/wednesday_spy_430_to_433_probably_leans_431/">[comments]</a></span>Kind Regards R