Last week’s outlook played out quite well — as anticipated, SPX hit the 6000 level, closing exactly there on Friday. This was the realistic target we highlighted in last week's idea.
🔭 SPX: The Bigger Outlook
It's difficult to say whether the rising SPX trend will continue. We're still in the "90-day agreement period" set by the administration, and so far, the market has shown resilience, avoiding deeper pullbacks like the one we saw in April.
With VIX hovering around 17–18, we’ve reached a zone where further SPX upside would require volatility. For the index to continue rising meaningfully, it needs to reverse the current bearish macro environment, and that can only happen with strong buying momentum — not a slow grind.
The parallel downward channel drawn a few weeks ago is still technically valid. Even a short 100-point squeeze would fit within this structure before a larger move down unfolds.
GEX levels give us useful clues heading into Friday. We're currently in a net positive GEX zone across all expirations, giving bulls a structural advantage, just like last week.
As of Monday’s premarket, SPX spot is at 6009.The Gamma Flip zone is between 5975–5990, with a High Volume Level (HVL) at 5985.
🔍 Let’s zoom in with our GEX levels — this gives us a deeper view than our GEX Profile indicator for TradingView alone.
🐂 🟢 If SPX moves higher, the following are logical profit-taking zones:
🎯 Targeting above 6100 currently feels irrational — for instance, the next major gamma squeeze zone is at 6150, but that corresponds to a delta 6 level (≈94% chance the price closes below it), so I won’t aim that high yet.
🐻🔴 In a bearish scenario:
If momentum picks up, 5900 becomes reachable quickly, even if it's technically a 17-delta distance — because that’s deep in the negative GEX zone.
📅 Don’t forget: On Wednesday premarket, we’ll get Core Inflation Rate data — a key macro risk that could shake things up, regardless of TSLA drama fading.
📌 SPX Weekly Trading Plan Conclusion
Whatever your bias, keep cheap downside hedges in place. We've been rising for a long time, and even if SPX breaks out of the descending channel temporarily, resistance and the gamma landscape may pull price back swiftly.
🔭 SPX: The Bigger Outlook
It's difficult to say whether the rising SPX trend will continue. We're still in the "90-day agreement period" set by the administration, and so far, the market has shown resilience, avoiding deeper pullbacks like the one we saw in April.
With VIX hovering around 17–18, we’ve reached a zone where further SPX upside would require volatility. For the index to continue rising meaningfully, it needs to reverse the current bearish macro environment, and that can only happen with strong buying momentum — not a slow grind.
The parallel downward channel drawn a few weeks ago is still technically valid. Even a short 100-point squeeze would fit within this structure before a larger move down unfolds.
GEX levels give us useful clues heading into Friday. We're currently in a net positive GEX zone across all expirations, giving bulls a structural advantage, just like last week.
As of Monday’s premarket, SPX spot is at 6009.The Gamma Flip zone is between 5975–5990, with a High Volume Level (HVL) at 5985.
🔍 Let’s zoom in with our GEX levels — this gives us a deeper view than our GEX Profile indicator for TradingView alone.
🐂 🟢 If SPX moves higher, the following are logical profit-taking zones:
- 6050 (Delta ≈ 33)
- 6075 (Delta ≈ 25)
- 6100 (Delta ≈ 17)
🎯 Targeting above 6100 currently feels irrational — for instance, the next major gamma squeeze zone is at 6150, but that corresponds to a delta 6 level (≈94% chance the price closes below it), so I won’t aim that high yet.
🐻🔴 In a bearish scenario:
- 5975 and 5950 are the first nearby support zones (Deltas 30 and 38).
If momentum picks up, 5900 becomes reachable quickly, even if it's technically a 17-delta distance — because that’s deep in the negative GEX zone.
📅 Don’t forget: On Wednesday premarket, we’ll get Core Inflation Rate data — a key macro risk that could shake things up, regardless of TSLA drama fading.
📌 SPX Weekly Trading Plan Conclusion
Whatever your bias, keep cheap downside hedges in place. We've been rising for a long time, and even if SPX breaks out of the descending channel temporarily, resistance and the gamma landscape may pull price back swiftly.
Trade active
6050-6060 was the first major support, we've tested today and the price bounced back.Let's see the rest of the week.
Trade closed: target reached
Played out well : - upside bullish T1+T2 reached
- after premarket selloff T1+T2 reached
Done for this week, dog conquer Fridays.
Note
06/16 weekly update: ![[06/16] Weekly GEX Roadmap - Diagonal Spreads or Put Hedges?](https://tradingview.sweetlogin.com/proxy-s3/n/NVqFKAHv_mid.png)
Boost up your charts with Options PRO!
REAL Options metrics for over 190+ liquid US symbols:
✔ 𝗔𝘂𝘁𝗼-𝗨𝗽𝗱𝗮𝘁𝗶𝗻𝗴 𝗚𝗘𝗫 𝗹𝗲𝘃𝗲𝗹𝘀
✔ IVRank ✔ CALL/PUT skew ✔ Volatility Skew ✔ Delta curves
👉 7-day TRIAL 🌐 TanukiTrade.com
REAL Options metrics for over 190+ liquid US symbols:
✔ 𝗔𝘂𝘁𝗼-𝗨𝗽𝗱𝗮𝘁𝗶𝗻𝗴 𝗚𝗘𝗫 𝗹𝗲𝘃𝗲𝗹𝘀
✔ IVRank ✔ CALL/PUT skew ✔ Volatility Skew ✔ Delta curves
👉 7-day TRIAL 🌐 TanukiTrade.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Boost up your charts with Options PRO!
REAL Options metrics for over 190+ liquid US symbols:
✔ 𝗔𝘂𝘁𝗼-𝗨𝗽𝗱𝗮𝘁𝗶𝗻𝗴 𝗚𝗘𝗫 𝗹𝗲𝘃𝗲𝗹𝘀
✔ IVRank ✔ CALL/PUT skew ✔ Volatility Skew ✔ Delta curves
👉 7-day TRIAL 🌐 TanukiTrade.com
REAL Options metrics for over 190+ liquid US symbols:
✔ 𝗔𝘂𝘁𝗼-𝗨𝗽𝗱𝗮𝘁𝗶𝗻𝗴 𝗚𝗘𝗫 𝗹𝗲𝘃𝗲𝗹𝘀
✔ IVRank ✔ CALL/PUT skew ✔ Volatility Skew ✔ Delta curves
👉 7-day TRIAL 🌐 TanukiTrade.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.