SPX-Would doubt...

$S&P 500(.SPX)$ $NASDAQ(.IXIC)$ $10-YR T-NOTE - Sep 2022(ZN2209)$ $Apple(AAPL)$ $Amazon.com(AMZN)$ $Tesla Motors(TSLA)$ 

US stock prices struggled to find a clear direction.

The market would continue to weigh inflation...

Risks are mounting that the world will shift to a regime of higher inflation, forcing central bankers to react violently.

"I don't think we're going to go back to that low inflation environment"

It was a message from European Central Bank President Christine Lagarde at the ECB's annual forum in Portugal.

His comments, alongside those of Powell and Bank of England Governor Andrew Bailey, signify a potential upheaval in the practice of monetary policy

On the market side, the context remaining unchanged creating an increased risk of intraday volatility.

We maintain a short gamma and given the relative lack of demand for call options, there is little reason to believe that will change in the near future.

However, the rebalancing period would leave a slight bullish bias.

Note that ES 30 days historical vol remains high, so this bullish bias scenario should be taken with a grain of salt...especially on the day of expiry.

• For information, here are the levels, which we could retain with 4,000 a key level and 3,900 in the intermediate zone. 3,800 would remain a support.

Thanks, for reading.

@Do_Trading