Market Overview
Happy FOMC day. Seven consecutive closes below the 21 EMA and the SPY is not finding any traction. The 8 EMA at 761.69 and 21 EMA at 763.48 are converging bearishly right above price, and today’s close at 759.47 keeps us pinned in this no-man’s land just above the 50-day at 759.30. If the 50-day gives way on a closing basis, that opens up more downside with limited nearby support. VIX at 16.8 is not screaming panic, but this tape has been quietly grinding lower and that trend deserves respect. FOMC is holding everything at the moment,
Top Setups — 5 Signals
VZ — BULL · MEGA
Calls Bought · Strike: 55.0 · Exp: Jan28 · 5000 contracts · $1.8M
Someone put $1.8M into January 55 calls, 5,000 contracts, and the chart backs up the conviction. VZ is holding above the 21 EMA at 49.85 and the 8 EMA at 50.61 with the 50-day and 200-day stacked cleanly below, a textbook bull structure. The sector is outperforming SPY by 4.6% and price is just outside the Fib pocket, so a tight entry near current levels or a modest dip toward the 21 EMA gives you a clean risk reference.
