We study SPY and Trade SPX SPDR 500 ZERO DTE Index.
🎯 QZ ALGO CREED — Probability Over Prediction
We don’t forecast. We read positioning — where Market Maker exposure sits, where the walls are, and how MM is priced across strikes. That tells us where price is constrained, not where it’s going. Structure decides the trade.
🔒
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SPY Spot: 767.04 · Max Pain: 775 · Flip: 769.1. Tuesday’s Flip gave way — price lost 770.37 and dropped ~5.6 more, and now sits below the Flip (769.1) in a full negative/amplification regime. The board is drowning in negatives: 770 (#1 Abs, Daddy Bear −24.2M) sits just overhead near the Flip, 769 is another put wall, and 760 (−18M) is a big downside put-wall magnet. There is almost no positive exposure and essentially no call resistance overhead — so a reclaim of the Flip has room to squeeze, but while price stays below it, moves amplify. Reclaim 769.1 → squeeze toward 770/773; stay below / lose 765 → amplification down to 760. Read it with structure — no levels, no trade.
Options Flow — OPEN INTEREST (Strike, Calls, Puts):
774, 5K, 6K
773, 2K, 4K
770, 0K, 4K
769, 0K, 2K
760, 0K, 9K
🌡️ QZ TEMPERATURE
🌡️ SPY — Level then COLOR (Sign):
770 RED (Minus)
774 RED (Minus)
773 RED (Minus)
769 RED (Minus)
760 RED (Minus)
776 GREEN (Plus)
779 GREEN (Plus)
780 GREEN (Plus)
🧭 STRUCTURE CHECK
Market Structure (5 Min):
Structure
Level
Status
LH (Lower High)
~769.00
Downtrend high
LL (Lower Low)
~767.00
Structure target
Current
~767.4
Pressing the lows
📊 DECISION TABLE
Level
What It Is
Action
776
🎯 Daddy Bull (+2.2M) — lone green
Thin pin above
775
🔵 MAX PAIN
Far magnet above
774
🎯 #2 Abs (24.8M) — net −1.8M
Overhead battle
773
Abs #3 (20.6M) — net −5.6M
Battle
772
Abs #6 (18.4M) — negative
Battle
770
🎯 #1 Abs (30.1M) + Daddy Bear (−24.2M) + put wall
Overhead wall (at the Flip)
769.1
🟠 FLIP
Regime gate
769
Baby Bear (−13.1M) + Abs #4 + put wall
Just above spot
768
Abs #7 (14.9M) — negative
Battle (highest volume)
767.04
☕ WE ARE HERE (Spot)
Below the Flip
765
Abs #8 (13.5M) — negative
Shelf
760
👹 Mama Bear (−18M) + Abs #5 + put wall
Deep downside magnet
🎯 THREE BEARS / THREE BULLS (by MM Exposure size)
THE THREE BEARS (Negative):
Bear
Strike
MM Exposure
OI
Volume
S1 = DADDY
770
−24.2M
4.7K
72.4K
S2 = MAMA
760
−18.0M
8.6K
53.0K
S3 = BABY
769
−13.1M
2.8K
132.5K
S1 (770) is #1 Abs + the put wall at the Flip; S2 (760) is the deep downside magnet.
THE THREE BULLS (Positive):
Bull
Strike
MM Exposure
OI
Volume
B1 = DADDY
776
+2.2M
7.9K
11.0K
B2 = MAMA
779
+0.85M
3.7K
4.9K
B3 = BABY
780
+0.79M
5.2K
8.5K
☕ RANGE ZONE
Zone
Why
765 — 770
Spot sits below the Flip between the 770 wall/Flip and the 765/760 shelf. On negative exposure a break runs fast — reclaim 769/770 for the (unobstructed) squeeze up, lose 765 for the amplification toward 760.
🎯 Q ALGO™ CHECKLIST — WE DON’T TRADE EMOTIONS, WE LOOK FOR CLUES
Step
What We Check
1
LEVELS (from this newsletter)
2
15-Min chart
3
5-Min chart
4
1-Min chart
5
BANDS
6
River
7
Volume Line (Fair Value)
8
Candle for Entry
9
Flip Line
10
Trend Context (Trend Engine)
11
Pivots
12
LQ Areas
13
Entry Candle
14
Flow
15
VSA + QVDD
No Structure = No Trade. Not all checklist items need to align — build your edge based on your own edge. Amplification day below the Flip: respect 769.1 — a reclaim opens the squeeze up, staying below keeps the 760 magnet in play.
📋 OI TABLE — SUPPORT vs RESISTANCE
Call OI (Resistance)
Strike
Put OI (Support)
PCR (P/C OI)
5,251
774
6,100
1.16
2,461
773
4,310
1.75
~450
770
4,205
9.28
~460
769
2,315
5.07
~130
760
8,503
66.9
⚖️ Disclaimer
This is not investment advisory. I’m not calling trades. I’m teaching you to think. Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. The IKIGAI Algo and any associated indicators, tools, or educational materials are provided for informational and educational purposes only and do not constitute financial, investment, or trading advice. You should consult with a qualified financial advisor before making any trading decisions. Q Levels and affiliated parties are not registered investment advisors, broker-dealers, or financial planners. By participation, you acknowledge you are solely responsible for your own trading decisions and any resulting gains or losses. No guarantees of profit or specific results are made or implied. All sales are final. Please trade responsibly and only risk capital you can afford to lose. Errors and omissions excepted.
