Market Outlook
Institutional ES futures and SPY options research, gamma levels, and key zones for trading the S&P 500.
Crude Settles 96.08, Under Its Own Pivot at 96.31
November WTI fell 1.18% to 96.08 as de-escalation reports released risk premium. Levels, the 94.30 to 94.90 long and a 4.22 backwardation.
Gold Reclaims the 100-Day and Settles at 4,424.9
December gold opened 18.1 lower, recovered to 4,439.8 and settled at 4,424.9, up 0.57%. Levels, the 4,385 to 4,397 long and a dead-heat trend read.
Nasdaq-100 Futures Clear Every Average, Settle at 29,917.25
December Nasdaq-100 futures settled at 29,917.25, up 0.59%, above every moving average. Levels, the 29,650 to 29,715 long, the call flow and Tuesday's auction.
S&P Futures Sit Flat at 7,712.50 Under a 7,731 Supply Shelf
December S&P futures settled at 7,712.50, up 0.07%, pinned to the SPX 7,650 gamma strike on expiration day. Levels, the 7,731 to 7,743 short and a quiet Monday.
Crude Washes Out to 94.42, Then Buys the Whole Dip Back
November WTI fell 3.41% intraday to 94.42 and settled at 97.23, 83% up its range. Levels, the 95.17 to 96.48 long, the backwardation and Friday's risks.
Gold Gaps Down 2%, Closes Green, Stalls at the 100-Day
December gold opened 86.1 points lower, recovered to 4,423.3 and settled at 4,399.7. Levels, the 4,410 to 4,425 short and the real-yield backdrop for Friday.
Nasdaq-100 Futures Stall 15 Points Under the 100-Day Average
December Nasdaq-100 futures settled at 29,743.00, up 1.66%, just beneath the 100-day average. Levels, the 29,566 to 29,623 long and the quarterly expiration.
S&P 500 Futures Meet a 7,731 Ceiling on Expiration Friday
December S&P 500 futures settled at 7,707.25, up 1.11%, a day after the Fed hike. Levels, the 7,676 to 7,682 long and Friday's record quarterly expiration.
Crude Drops 3.2% as Saudi Pipeline Repairs Speed Up
October WTI settled at 102.43, down 3.21%, as Saudi officials sought a faster pipeline restart. Levels, the 102.40 to 102.95 short and Thursday's risks.
Gold Settled Higher Before the Fed, Then Gave It Back
December gold settled at 4,387.5 before the 2:00 PM ET rate decision, then reopened at 4,301.4. Levels, the 4,420 to 4,442 short and Thursday's calendar.
Nasdaq-100 Futures Hold Flat as the Fed Lifts Rates to 4%
December Nasdaq-100 futures settled at 29,256.75 as technology held flat and the Dow fell 1.21%. Levels, the 29,545 to 29,568 short and Thursday's calendar.
S&P 500 Futures Face 7,690 After the Fed's First Hike
December S&P 500 futures settled at 7,623.00 after the first rate increase in three years. Levels, the 7,690 to 7,698 short and Thursday's calendar.
Crude Oil Futures Take a 52-Week High Into Wednesday's Inventory Test
October WTI settled at 105.83, up 4.38%, just under a 106.75 annual high, before an industry build. Levels, supply drivers and the September 16 setup.
Gold Futures Hold Their 50-Day Average by 0.8 Points Into the Fed
December gold settled at 4,332.8, 0.8 points above its 50-day average, as 5% yields outweighed record diesel. Levels and the setup for the Fed on Sept. 16.
Nasdaq-100 Futures Slip Under Their Averages as Yields Top 5%
December Nasdaq-100 futures settled at 29,246.75, beneath every short and intermediate average, as 10-year yields topped 5%. Levels and the Sept. 16 setup.
S&P 500 Futures Head Into the Fed Sitting Near a One-Month Low
December S&P 500 futures settled at 7,656.00 near a 7,643.50 one-month low as 10-year yields topped 5%. Levels and the Fed-day setup for September 16.
Crude Oil Futures Reject 104 Again as the Curve Stays Tight
October WTI hit a 104.95 contract high and settled at 101.39 as de-escalation headlines hit. Levels, curve, positioning and the September 15 setup.
Gold Futures Couldn't Rally on a Closed Strait of Hormuz
December gold hit a one-month low at 4,293.0 as the dollar and yields outweighed a closed Hormuz. Levels, positioning and the setup for September 15.
Nasdaq 100 Futures: Chips Broke, Software Caught the Fall
Chipmakers fell about 6 percent and software rose 5 percent as NQ settled at 29,449.50. Levels, hedging flow and the setup for Tuesday, September 15.
S&P 500 Futures Start Tuesday Sitting on Their Own Pivot
December S&P 500 futures settled at 7,692.75, on the 7,691.25 pivot, after a chip sell-off. Levels, positioning and the setup for Tuesday, September 15.
At the Annual High, Crude Runs Out of Structure
Crude is the only instrument in this package with a confirmed trend, and the weekend added to it. The 104.26 to 104.46 band, the pivot ladder and the long setup for Monday September 14.
Against the Macro: Gold’s Last Dense Support Before a 30 Dollar Gap
Gold fell alongside equities while crude surged, so the rate channel is outweighing the haven channel. The 4,328 to 4,333 band and the tactical long for Monday September 14.
Below 29,000: Nasdaq-100 Walks Into Fed Week Without Its Support Base
Technology lost its cash 29,000 put side support base overnight while the broad market held its equivalent line. Levels, positioning and the short setup for Monday September 14.
ES Into Monday: A Support Zone That Already Got Probed
The September E-mini probed 7,604.25 on the Sunday reopen, beneath both conversions of the modeled flip level, then recovered. Levels, positioning and the setup for Monday September 14.