Market Overview
The SPY is on its 6th consecutive close above the 21 EMA and sitting at 776.86, well clear of that 769.26 level. The stack is clean, 8 EMA at 773.42 is the nearest dynamic support to watch on any intraday dip. VIX at 14.9 tells you there is no fear in this market right now. Price is also comfortably above the 50 day at 766.25 and the 200 day is way down at 719.65, so the broader trend is not in question.
Top Setups — 3 Signals
AMAT — BULL · MEGA
Puts Sold · Strike: 395.0 · Exp: Nov26 27th · 3030 contracts · $1.3M
Someone sold 3,030 contracts of the Nov 395 puts for about $1.3M in notional, a clear institutional bet that AMAT holds well above that strike. The chart backs it up, price at 510.25 is above the 50 day and the EMA stack is aligned with the 8 EMA at 514.92 and 21 EMA at 498.24 both trending higher. The 100 SMA around 515 is the near-term resistance to watch, but the weekly structure with higher highs and higher lows on both the 50 and 200 week keeps the bull case intact.
