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SPY SPX ZERO DTE (Pre-Market)
Date: Wed Jul 29, 2026 | Expiration: Jul 29, 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: 743.57
Max Pain: 740
Flip: 748.06.
Price bounced above Max Pain and is now pressing toward the biggest wall on the board — 748 (#1 Absolute at 43.1M, net +36.4M positive, and the Flip). Spot sits between the 740 magnet below and the 748 pin/gate above.
748 is the upside pin/gate; 735 is the big shelf below.
Read it with structure — no levels, no trade.
📊 TV VALUES
SPY String — paste into QZ ALGO Daily Magnets:
753,750,748,743.57,740,748.06,730,734,735,748
SPX String:
7530,7500,7480,7435.7,7400,7480.6,7300,7340,7350,7480
Options Flow — VOLUME (Strike, Calls, Puts):
748, 39K, 1K
747, 34K, 1K
746, 30K, 1K
745, 47K, 5K
740, 38K, 46K
735, 3K, 38K
Options Flow — OPEN INTEREST (Strike, Calls, Puts):
748, 15K, 1K
747, 5K, 3K
746, 3K, 4K
745, 5K, 3K
740, 6K, 5K
735, 1K, 11K
🌡️ QZ TEMPERATURE
🌡️ SPY — Level then COLOR (Sign):
735 BLUE (Plus)
746 BLUE (Plus)
738 BLUE (Plus)
739 BLUE (Plus)
734 BLUE (Plus)
748 GREEN (Plus)
740 GREEN (Plus)
745 GREEN (Plus)
747 GREEN (Plus)
750 GREEN (Plus)
🧭 STRUCTURE CHECK
Market Structure (5 Min):
|
Structure |
Level |
Status |
|---|---|---|
|
HH (Higher High) |
~742.00 |
Recent high off the base |
|
LH (Lower High) |
~742.00 |
Pullback marker |
|
HL (Higher Low) |
~740.00 |
Consolidation floor |
🎯 CONFLUENCE — 748 IS THE PIN/GATE
📊 DECISION TABLE
|
Level |
What It Is |
Action |
|---|---|---|
|
753 |
Baby Bull (+9.3M) |
Upside pin |
|
750 |
Mama Bull (+9.5M) |
Pin |
|
748 |
🎯 #1 Abs (43.1M) + Daddy Bull (+36.4M) + FLIP |
The pin/gate — reach + hold = up |
|
747 |
Positive (+6.9M) |
First hurdle up |
|
746 |
Negative pocket (−4.9M) |
Battle |
|
745 |
Positive (+7.6M) — heavy call vol |
Step up |
|
743.57 |
☕ WE ARE HERE (Spot) |
— |
|
740 |
🔵 MAX PAIN + Abs #2 (39M, net +4.3M) |
Magnet below |
|
739 / 738 |
Negative pocket |
Slip zone |
|
735 |
👹 Daddy Bear (−27.2M) + Abs #3 |
Main shelf below |
|
734 / 730 |
Baby bears |
Deeper targets |
🎯 THREE BEARS / THREE BULLS (by MM Exposure size)
THE THREE BULLS (Positive):
|
Bull |
Strike |
MM Exposure |
OI |
Volume |
|---|---|---|---|---|
|
B1 = DADDY |
748 |
+36.4M |
16.4K |
39.7K |
|
B2 = MAMA |
750 |
+9.5M |
8.6K |
29.2K |
|
B3 = BABY |
753 |
+9.3M |
11.6K |
8.1K |
B1 (748) is also the #1 Absolute Exposure strike and the Flip — see Confluence.
THE THREE BEARS (Negative):
|
Bear |
Strike |
MM Exposure |
OI |
Volume |
|---|---|---|---|---|
|
S1 = DADDY |
735 |
−27.2M |
11.7K |
40.2K |
|
S2 = MAMA |
734 |
−6.9M |
3.5K |
23.8K |
|
S3 = BABY |
730 |
−5.5M |
3.9K |
31.5K |
☕ RANGE ZONE
|
Zone |
Why |
|---|---|
|
740 — 748 |
Spot sits between Max Pain (740) and the 748 pin/Flip. A strong trend is harder to form between them — expect grind toward 748 while 740 holds. Reclaim 748 for the pin; lose 740 and the 735 shelf comes into play. |
🎯 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. Grinding toward the pin: wait for the 748 reach/hold or the 740 loss.
⚖️ 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 ☕
⚖️ 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 participating in this program, you acknowledge that 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.
— Q Levels Trading | Coffee With Q ☕