Morning Note · Thursday, July 16, 2026
Morning Update
Sent to members at 8:30 AM ET on Jul 16, 2026. Posted here the next trading day.
Key numbers
- 7,537.29
- Premarket
SPX is trading 7537 premarket — 35 points below yesterday's 7572 close.
We're 167 points above the gamma flip at 7370. Positive gamma. The call wall at 7595 is 58 points above — that's the magnet. The put wall at 7555 is -18 points below.
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Big Picture Levels
- 7,454
- 7,476 — 20 SMA (daily), 8-week EMA, 50-day SMA.
- 7,252
- 21-week EMA. Only Friday's close matters.
- 7,167
- 20-week SMA.
- 7,138
- 100-day SMA.
- 6,979
- 200-day SMA.
Today's Trading
- Primary range
- 7,497 – 7,595
- 7,595
- Call wall. Magnet. Ceiling.
- 7,555
- Put wall.
- 7,537.29
- Premarket.
- 7,530.89
- 8 EMA (daily).
- 7,513.95
- 13 EMA (daily) area.
- 7,505.64
- Multi-session support.
- 7,499.47
- Multi-session support.
- 7,497.24
- Floor.
- 7,494.06
- 21 EMA (daily) area.
- 7,490.84
- 21 EMA (daily).
- 7,488.18
- 21 EMA (daily) area.
- 7,481.01
- 20 SMA (daily) area.
- 7,476.82
- 20 SMA (daily) area.
- 7,465.50
- 8-week EMA area.
- 7,457.31
- 50-day SMA area.
- 7,454.25
- 50-day SMA.
- 7,451.25
- 50-day SMA area.
- 7,370
- Gamma flip. The regime line.
GEX Profile (July 16, 2026)
- Call Wall
- 7,595. Magnet.
- Gamma Flip
- ~7,370. Positive gamma.
- Put Wall
- 7,555. Dense negative concentration.
Call wall, gamma flip, put wall — what they mean and why they run the session.
Execution Levels
Long Plan
| Entry | Why | Targets |
|---|---|---|
| Dip Buy: 7,522 | Below premarket. | 7,595 (call wall) |
| Second Bid: 7,514 | Support. | 7,531 (8 EMA), 7,595 (call wall) |
| Deep Bid: 7,506 | Support. | 7,531 (8 EMA), 7,595 (call wall) |
| Extreme: 7,499 | Support. Deep negative gamma. | 7,512 (13 EMA), 7,531 (8 EMA), 7,595 (call wall) |
| Reclaim: 7,595 | Through resistance. Extension toward the call wall. | not stated |
| Continuation: 7,625 | Extension. | 7,640, 7,660, 7,680 |
Short Plan
| Entry | Why | Targets |
|---|---|---|
| Fade pops to: 7,595 | Resistance. Call wall right above. | 7,555 (put wall), 7,531 (8 EMA), 7,512 (13 EMA) |
| Below 7,370 | Loss of the gamma flip. Regime shift to negative gamma. | 7,360, 7,352, 7,342 |
| Below 7,555 | Loss of the put wall. Negative gamma accelerating. | 7,531 (8 EMA), 7,512 (13 EMA), 7,499 |
| Breakdown: 7,531 | 8 EMA (daily). First MA break. | 7,512 (13 EMA), 7,499, 7,491 (21 EMA) |
How the entry tiers and targets are built: the SPX 0DTE strategy guide.
VIX Levels
- 15.29
- 15.62
- 15.79
- 16.26
- 16.65
- 17.11 key
- 17.15
Educational research, not investment advice. Levels and the plan describe how the desk framed that session and are published after it closed.