👁️ Eyes on hot zones for next week.

🚨 Tuesday, Jun 17: Retail Sales

🚨 Wednesday, Jun 18: Unemployment Claims, FOMC Funds Rate, FOMC Conference

 $SPY ( ▼ 0.44% ) 

SPY: Range Bound

The S&P 500 ETF ($SPY) has been trading within a defined range for some time, a characteristic clearly evidenced by the Average Directional Index (ADX) on the daily chart. The ADX, currently just above 20, confirms this lack of strong directional trend. Furthermore, the TTM_WAVE A has flattened out, exhibiting minor ebbing and flowing since approximately June 2nd, reinforcing the sideways price action.

The market's current consolidation phase makes the upcoming week particularly critical. We will be closely monitoring whether the Federal Open Market Committee (FOMC) meeting or other significant headlines provide the impetus for a directional shift before options expiration (OPEX) on June 20th. These events have the potential to disrupt the prevailing range and establish a new trend for the market.

Raw Consensus Score: 1 out of 7 (Neutral momentum) (Momentum Stars)

Delta Tilt: $600 Bullish Target, $595 Profit Taking zone, $590 Defend price

Gamma Exposure: Negative gamma environment (Concentration at $590 and $600)

Quant volume levels are area where stocks would most likely bounce or reject from.

 $CL_F ( 0.0% ) 

Crude Oil: Momentum Shift Up

Crude Oil ($CL_F) is definitively a top watch for the trading week ahead. We anticipate significant insights to emerge regarding the escalating Middle East tensions and their potential impact on global crude oil prices.

Early futures trading indicates that crude may still have additional upside momentum. However, as emphasized last week, crude oil prices are exceptionally news-driven, making it imperative for traders to remain highly vigilant and "keep ears to the ground" to successfully navigate this market. Geopolitical developments, particularly those involving major oil-producing regions, have a direct and often immediate effect on supply perceptions and, consequently, price.

To provide further context on the potential price ranges and underlying dynamics for crude and affiliated products, we have also included an analysis of the Delta and Gamma exposures for the United States Oil ETF ($USO) below. These options metrics can offer valuable insights into market participant positioning and potential hedging activities around key price levels.

Raw Consensus Score: 6 out of 7 (Very bullish momentum) (Momentum Stars)

Delta Tilt: $77.5 Support (USO ETF)

Gamma Exposure: Positive gamma environment (Concentration at $77)

Quant volume levels are area where stocks would most likely bounce or reject from.

 $PLTR ( ▼ 0.52% ) 

Must Watch this Week

Palantir ($PLTR) remains a prominent name on our watch list for the upcoming trading week. Following its recent achievement of a new all-time high, we will be closely monitoring for a continuation of its robust upside momentum, particularly in the early sessions of the week.

Our updated Delta Tilt and Gamma charts further reinforce a distinctly bullish positioning in the options market. This suggests that market participants are generally anticipating continued upward movement, with options hedging likely to support higher price levels. We will be keen to observe how this positioning influences price action as the week unfolds.

Raw Consensus Score: 3 out of 7 (Bullish momentum) (Momentum Stars)

Delta Tilt: $140 Target, $130 key support, $145 Target

Gamma Exposure: Positive gamma regime (Concentration at $140)

Quant volume levels are area where stocks would most likely bounce or reject from.

OTHER NAMES ON OUR RADAR NEXT WEEK

$GLD ( ▲ 0.15% ) , $NEE ( ▼ 0.56% ) , $COP ( ▲ 1.09% ) , $CAT ( ▲ 1.51% )