Pre-Open Commentary | Mar 11, 25

Condensed Insight Before the Bell.

Structure + Gamma Levels:

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Key Options Levels:

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SPX TrendPhase:

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Midterm Cumulative:

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//Actionable Levels//
Resistance: 5733-38   
Pivot: 5696.25 
Support: 5500 area

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Key takeways:

Midterm TrendPhase is in bottoming stage - basically both resistance 1 and 2 are below zero gamma. This means highly oversold market. Happened for the first time during this decline. Trading it should be done on the day where resistance 2 gets back above zero gamma as there were situations where res1 and 2 can stay below zero gamma for few consecutive sessions, thats why we need to see res.2 to get up above zero gamma.

Again we have large spread between sr1 and sr2 - this pattern though, proved not to be reliable that much during current decline. I think this should be treated as a warning of sorts rather than trend change. Same with flow>10 .

Interesting thing I have noticed on Slow Macro model equity curve. For the last few years the average pullback was around 400-500 points. We are exactly at that point right now. Although one have to remember, this trades longs and shorts, so far slow macro model is long - hence the pullback.

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Notes:

Yesterday’s HPI signals and other option metrics.

Just one trade on hpi(b) bot at the end of the session, otherwise hpi was was flat all day.

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