Weekend Review & What's Signiant

Week of May 5th, 2024 - SPX & ES

Happy Weekend Traders!

Hope everyone is well rested. Could be an interesting week ahead. We have major over head resistance above us and now fresh support below us. Options market are pricing in a small move for the week so could leave us in a range. Check out the review for a look at the levels that matter.

Cheers & happy trading,
Ryan Bailey

News
Not much news until later in the week on Thursday and Friday

SPX Options Volatility Expectations
By Friday the 10th there is an expected move of +/- 62.45 dollars for SPX

Essentially meaning that options are pricing in a tight / small range this week. We shall see if this is true.

VIX
Major Incoming untested support for VIX @ $13.06 should be monitored.

the $12.50 - $13 range has received reactions as it approached this price since December

Weekend Review