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Friday, March 29, 2024

Dow, Small Caps Erase Monday’s Losses; S&P At Critical Technical Resistance

Courtesy of ZeroHedge View original post here.

Despite the soaring rates picture this morning (which has supposedly been pressuring growthy stocks), tech is powering higher along with all major US equity indices. The ramp has so far lifted The Dow and Russell 2000 into the green from Friday’s close…

The S&P’s surge has lifted it back to its 100DMA…

So where from here?

SpotGamma highlights three key levels to watch from gamma positioning in S&P options (4275 lower bound, 4380 upper bound and 4325 balance)…

Large negative gamma position forecasts large, volatility swings. This should continue until/unless the S&P recovers 4400.

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