Previous Close: 6,738.41
Max Pain: 6,680
Primary Zone: 6,700 – 6,750
🧭 Market Map
- Major Call Walls: 6,750 → 6,800
- Put Floors: 6,650 → 6,625
- Active Battle Zone: 6,700 – 6,750 (where both OI and volume peak).
The market is wedged right between two magnets — bulls are defending 6,700 while dealers may try to pin the index closer to 6,680 (Max Pain).
👵 Grandma’s Bias (Based on Data, Not Feelings)
“SPX is walking a tightrope between 6,700 and 6,750 — trade the edges, not the middle.”
Why:
- 6,750 remains the dominant call cluster (≈ 39 M exposure) — expect resistance there.
- 6,700 is the pivot zone and gamma flip area — holding above it supports a drift higher.
- Below 6,700 dealers may fade momentum and pull SPX back toward 6,680 (Magnet).
🎯 Intraday Scenarios
| Condition | Bias | Action Zone | Targets | Notes |
| ✅ Hold above 6,725 | Bullish | 6,730–6,740 | 6,760 → 6,780 | Follow momentum, trim near 6,780 |
| ⚠️ Lose 6,700 | Bearish | 6,690–6,680 | 6,660 → 6,640 | Dealer pressure kicks in below 6,700 |
| 🧩 Range Chop | Neutral | 6,700–6,730 | Scalp only | Expect back-and-forth around Max Pain |
📊 Key Zones
| Level | Role | Reaction |
| 6,800 | High Call Wall | Likely exhaustion zone |
| 6,750 | Resistance / Ceiling | Watch for fade setups |
| 6,725 | Balance Pivot | Short-term control level |
| 6,700 | Dealer Pivot | Key magnet — bulls must defend |
| 6,680 | Max Pain Anchor | Target for mean reversion |
| 6,650 | Put Support | Potential bounce zone |
🧠 Grandma’s Note
“If 6,750 acts like a lid, don’t fight it — fade into weakness and protect profits.
If 6,700 holds firm, the bulls may just melt it higher into the weekend.”
⚠️ Disclaimer
This analysis is based on options positioning (OI + Volume) and dealer exposure zones for SPX.
It is not financial advice. Always confirm setups with live price action and apply disciplined risk management. ⚠️ Coffee With Q Newsletter & Q Algo Disclaimer
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