☕ Grandma Edge Newsletter – Coffee With Q
Good morning, traders!
SPY closed at 687.68 yesterday – sitting right on the biggest level on the chart. CHRISTMAS EVE – HALF DAY – Markets close at 1:00 PM EST. Expect light volume and choppy action.
Range: 687-689 (tight holiday chop)
CRITICAL LEVELS:
- Above 689 = bullish breakout to 690+
- Below 684 = bearish to 682
KEY LEVELS
🟢 RESISTANCE:
- 690 – Upper ceiling
- 689 – MAJOR wall (167M positioning)
- 687.68 – Yesterday’s close (BIGGEST level – 183M!)
📍 CURRENT: 687.68
🔴 SUPPORT:
- 687 – First support (where we are)
- 684 – Max Pain / Critical floor (heavy puts)
- 682 – Flip zone (682.26)
- 680 – Strong floor
💡 TODAY’S SETUP
CHRISTMAS EVE – HALF DAY! Markets close at 1:00 PM EST. We’re sitting at 687.68 – right on the biggest level on the chart (183M positioning). Just 1.3 points above is 689 (167M). Combined, that’s 351M of positioning in just 2 points!
Both levels are pointing in the same direction (UP). Max Pain at 684 is 3.7 points below us, creating upward bias.
Expect choppy action in the 687-689 range due to holiday half-day. Break 689 opens 690+. Lose 687 drops to 684.
NO BIAS – Check Q LEVELS and price action with the Q Algo
⚠️ HOLIDAY TRADING NOTICE
CHRISTMAS EVE – HALF DAY – Markets close at 1:00 PM EST. Light volume expected. Be extra cautious with position sizes and honor your stops. Consider closing positions before the close.
⚖️ DISCLAIMER
Educational purposes only. Not financial advice. Trading involves substantial risk of loss. All decisions are your own responsibility. Options trading is high risk and not suitable for all investors.
— Grandma Q | Coffee With Q
Trade safe! ☕🎄🚀