Pre-Open Commentary | Jan 13, 25
Condensed Insight Before the Bell.
//Midterm Sentiment//
(days)
TrendPhase: Neutral/Bearish (Dec 31)
Orderflow: Neutral (Jan 13)
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(weeks)
Positioning: Bullish (Jan 10)
Dealers: Neutral (Oct 30)
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(months)
Seasonality: Bearish (Jan 2)
//Longterm//
(Years)
Great Cycle: Bullish (since March 2020) until 2027/2028Intraday TrendPhase: Neutral/Bullish
------------------------------
//Actionable Levels//
Resistance:
Pivot: 5907
Support: 5790Key takeways:
Here we are closing to mid-january opex and market seems to be making a correction. Thus we have to pull out our longterm dip price locators like anchored VWAP, then we’ll go through incoming OPEX levels.
As you can see in the table above we have significant change in Positioning which flipped to bullish on friday close. That means its even more important to look for a good price location in midterm long position but also in adding to longterm bullish position perspective. The opportunity is coming.
VWAP and Fractal level first area of interest is 5642-5625 and I will definietly want to add to my long there. Then lower one is 5245. These levels always present great buying opportunities.
This also corresponds with vol cycle averages on current contract series.
Now let’s look into incoming opex and its major levels.
SPX 5900 area seems to be crucial, price should tend to stay below it until end of week.
Also SPX 5874 is rather important resistance from opex perspective.
Yesterday’s Intraday Trading Recap:
Notes/Observations/Issues:
Pre-Open Commentary distills key takeaways from the analysis of the London GEX and Structure posts and also serves as my personal journal (sort of).