Morning Note · Friday, August 7, 2026
Friday, Jobs, 7740
Sent to members at 8:30 AM ET on Aug 7, 2026. Posted here the next trading day.
Key numbers
- 7,733.32
- Premarket
It's Friday. SPX gapped up 23 points to 7,733 premarket — 7 points below the call wall at 7,740. The 21-week EMA at 7,318 is 416 points below. The weekly close extends the trend.
July jobs report is the session. Consensus is 83K nonfarm payrolls, FactSet at 97.5K — either would be an acceleration from June's 57K. Markets are pricing 54.7% odds of a September hike. The 10-year is at 4.67%. Brent hit $83 on Strait of Hormuz uncertainty. VIX at 15.18. After-hours moves in Airbnb (+8%) and Cloudflare (+16%) added some energy overnight.
We're 218 points above the gamma flip at 7,515. Deep positive gamma. The call wall at 7,740 is right at premarket — that's the test. The put wall at 7,650 is 83 points below.
If 7,740 clears after data, there's nothing stacked above it on the GEX profile. If it rejects, 7,709 and 7,650 are the levels below.
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Big Picture Levels
- 7,605
- 8 EMA (daily).
- 7,563
- 13 EMA (daily).
- 7,489
- 7,531 — 21 EMA (daily), 20 SMA (daily), 8-week EMA, 50-day SMA.
- 7,318
- 21-week EMA. Friday close determines the trend.
- 7,297
- 20-week SMA.
- 7,248
- 100-day SMA.
- 7,045
- 200-day SMA.
Today's Trading
- Primary range
- 7,650 – 7,740
- 7,740
- Call wall. Magnet. Ceiling.
- 7,733.32
- Premarket.
- 7,650
- Put wall.
- 7,604.83
- 8 EMA (daily).
- 7,515
- Gamma flip. The regime line.
GEX Profile (August 07, 2026)
- Call Wall
- 7,740. 7 points above premarket. Right at the magnet. Jobs data determines whether this breaks or caps the session.
- Gamma Flip
- ~7,515. 218 points below at 7,515. Deep positive gamma. Not in play unless something breaks badly.
- Put Wall
- 7,650. 83 points below at 7,650. First major support if 7,709 fails.
Call wall, gamma flip, put wall — what they mean and why they run the session.
Execution Levels
Long Plan
| Entry | Why | Targets |
|---|---|---|
| Dip Buy: 7,718 | Below premarket. | 7,740 (call wall) |
| Second Bid: 7,514 | Gamma flip. The regime line. | 7,531 (21 EMA), 7,563 (13 EMA), 7,605 (8 EMA) |
| Deep Bid: 7,506 | Support. | 7,516 (20 SMA), 7,531 (21 EMA), 7,563 (13 EMA) |
| Extreme: 7,499 | Support. Deep negative gamma. | 7,515 (flip), 7,531 (21 EMA), 7,563 (13 EMA) |
| Reclaim: 7,740 | Through resistance. Extension toward the call wall. | not stated |
| Continuation: 7,770 | Extension. | 7,780, 7,800, 7,820 |
Short Plan
| Entry | Why | Targets |
|---|---|---|
| Fade pops to: 7,740 | Resistance. Call wall right above. | 7,650 (put wall), 7,605 (8 EMA), 7,563 (13 EMA) |
| Below 7,515 | Loss of the gamma flip. Regime shift to negative gamma. | 7,505 (8w EMA), 7,489 (50-day SMA), 7,481 |
| Below 7,650 | Loss of the put wall. Negative gamma accelerating. | 7,605 (8 EMA), 7,563 (13 EMA), 7,531 (21 EMA) |
| Breakdown: 7,605 | 8 EMA (daily). First MA break. | 7,563 (13 EMA), 7,531 (21 EMA), 7,516 (20 SMA) |
How the entry tiers and targets are built: the SPX 0DTE strategy guide.
VIX Levels
- 14.78 key
- 15.29
- 15.62
- 15.79
- 16.26
- 16.65
Educational research, not investment advice. Levels and the plan describe how the desk framed that session and are published after it closed.