SCHEDULED NEWS = NO NEWS
OPTIONS VOLITILITY LEVELS
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Good morning, everyone. Today is Tuesday, October 6th. Yesterday’s trade plan was spot on. On Sunday we called an immaculate rally, telling you we could expect a push all the way into our 7833 area and potentially all-time highs. Yesterday we got an intense squeeze on low relative volume that sent us catapulting up well over 80 points for an amazing display of trade plan amazingness. They barely missed the all-time highs yesterday, only to turn around and make them in the overnight session. We are currently up over 40 points at the time of this writing, surfing all-time highs once again.
Congratulations to all those who got on this trade yesterday and rode it to the fullest. It was an incredible rally, and it was foretold days before in the Weekend Review.
As we come into the morning, we find ourselves in a hurry-up-and-wait position, with low relative volume once again and no Red Tag news to speak of.
A Note on Today’s Market:
News: No Red Tag news to speak of.
Volume: Relative Volume is low once again at negative 23%. Taking that into account leaves us approximately 30 points above or below the overnight high or low for our expected range today. With no news, that is certainly a probability.
Range: Expected range of 75.75 points. We have currently moved a total of 38.25 points, giving us an approximate range of 40.5 points above or below the overnight highs or lows before the volume adjustment.
Gamma: We are traversing all-time highs in a Positive Gamma environment. The gamma flip level has moved up to a serious and significant spot that we will monitor today at 7830, telling us dealers are now hedging to the long side as the market surfs all-time highs in price discovery mode once again.
Trend: Up on all time frames. We should be looking only for buys.
🧠 Current Market Context
A Word of Caution: This Is a Long-Only Situation
I want to put out a word of caution here — something I have been teaching students and warning traders about for many, many moons. We are in all-time high price discovery after a massive nine-week balance. That balance was essentially long-term acceptance of value. Now we are pushing higher to go into price discovery mode and find the next layer of accepted value. We have no idea how high this market can go, and we currently have no structure above us except for our Call Walls, which we’re going to use for profit taking.
