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☕ Daily Levels for SPY SPX ZERO DTE (Pre-Market)
Date: Mon Jul 27, 2026 | Expiration: Jul 27, 2026
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.
⚡ OPENING NOTE
SPY Spot: 738.66 ·
Max Pain: 741 ·
Flip: 749.47.
740–741 is the gate up; 730 is the big shelf below. Read it with structure — no levels, no trade.
📊 TV VALUES
SPY String — paste into QZ ALGO Daily Magnets:
740,745,739,738.66,741,749.47,720,735,730,740
SPX String:
7400,7450,7390,7386.6,7410,7494.7,7200,7350,7300,7400
Options Flow — VOLUME (Strike, Calls, Puts):
745, 66K, 7K
741, 56K, 37K
740, 77K, 69K
739, 59K, 81K
730, 1K, 48K
Options Flow — OPEN INTEREST (Strike, Calls, Puts):
745, 5K, 2K
741, 3K, 4K
740, 6K, 4K
739, 4K, 2K
730, 0K, 12K
🌡️ QZ TEMPERATURE
🌡️ SPY — Level then COLOR (Sign):
741 RED (Minus)
730 RED (Minus)
738 RED (Minus)
737 RED (Minus)
735 RED (Minus)
740 GREEN (Plus)
739 GREEN (Plus)
745 GREEN (Plus)
742 GREEN (Plus)
743 GREEN (Plus)
🧭 STRUCTURE CHECK
Market Structure (5 Min):
|
Structure |
Level |
Status |
|---|---|---|
|
LH (Lower High) |
~739.00 |
Recent lower high |
|
LL (Lower Low) |
~737.50 |
Structure low |
|
Current |
~738.6 |
Basing / attempted bounce |
📊 DECISION TABLE
|
Level |
What It Is |
Action |
|---|---|---|
|
749.47 |
🟠 FLIP |
Regime gate (far overhead) |
|
745 |
Mama Bull (+7.3M) |
Upside pin |
|
742 |
Positive |
Pin |
|
741 |
🔵 MAX PAIN (net −2.7M) |
Magnet / battle |
|
740 |
🎯 #1 Abs (44.2M) + Baby Bull (+5M) |
The gate — reclaim = up |
|
739 |
Daddy Bull (+8.8M) — heavy volume |
First hurdle up |
|
738.66 |
☕ WE ARE HERE (Spot) |
At the sign-flip |
|
738 / 737 |
Negative pocket |
Slip zone below spot |
|
735 |
Mama Bear (−10.2M) |
Support/target |
|
730 |
👹 Daddy Bear (−25.2M) + Abs #4 |
Main shelf below |
|
720 |
Baby Bear (−9.3M) |
Deeper target |
🎯 THREE BEARS / THREE BULLS (by MM Exposure size)
THE THREE BULLS (Positive):
|
Bull |
Strike |
MM Exposure |
OI |
Volume |
|---|---|---|---|---|
|
B1 = DADDY |
739 |
+8.8M |
6.7K |
140.0K |
|
B2 = MAMA |
745 |
+7.3M |
7.3K |
73.9K |
|
B3 = BABY |
740 |
+5.0M |
10.0K |
146.2K |
B3 (740) is also the #1 Absolute Exposure strike — see Confluence.
THE THREE BEARS (Negative):
|
Bear |
Strike |
MM Exposure |
OI |
Volume |
|---|---|---|---|---|
|
S1 = DADDY |
730 |
−25.2M |
12.4K |
48.7K |
|
S2 = MAMA |
735 |
−10.2M |
3.7K |
59.9K |
|
S3 = BABY |
720 |
−9.3M |
14.5K |
28.5K |
🔴 Mild bear tilt. Bears 44.7M vs Bulls 21.1M ≈ 2:1. Far calmer than Friday’s 29:1 — the big negative wall dissipated. Spot sits at the flip with the 740/741 magnet just above.
☕ RANGE ZONE
|
Zone |
Why |
|---|---|
|
738 — 741 |
Spot pins between the negative pocket (737/738) and the #1 Abs / Max Pain cluster (740/741). A strong trend is harder to form right at the flip — expect chop until price holds 741 (up to 745) or loses 737 (down to 735/730). |
Commentary: 740 carries the highest total volume on the board (146K), with 739 (140K) and 738 (116K) right behind — the whole battle is packed into the 738–741 band at spot.
🎯 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 |
Red, BANDS Q3 Volume Line |
|
6 |
River White Dash |
|
7 |
Volume Line (Fair Value) |
|
8 |
Candle for Entry Bullish Bearish
|
|
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. Coiled at the flip: wait for the 741 reclaim or the 737 break.
⚖️ 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.
— Q Levels Trading | Coffee With Q ☕