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Traders Recover Off Lows – 3 May, 2022

Market Outlook – bearish flow reverses off the deep support test of 4056 and now sit 100 points higher in the aftermarket session. This is an FOMC week and chances are that the Fed will announce another rate increase. Currently, resistance sits at 4165 and then 4182 above that. Support sits near 4119 and 4092 below that.

The volume profile below suggests that we will move higher into the low volume area.

Fear and Greed lifts a little but still very cautious

Great recap from Schwab on the end of the quarter

https://www.schwab.com/resource-center/insights/content/when-levee-breaks-panic-is-not-strategy

Levels remain the same

Sector Performance so far

Just a consideration

A look at some large option positions taken just into the close