Morning Report + FOMC! 🎉🪩+ Europe Chart Review

Day Trading Update 6/18/25

Welcome to the morning report, where I go over the setup for the day as it relates to day trading. I’ll review levels using options gamma and show you where the support and resistance lie along with some other proprietary metrics like options skew that have good track records for forecasting bullish or bearish tendencies for the day.

Let’s see what the day has in store for us!

Today’s Setup

Today it looks like we are pinning ahead of FOMC. We had some chunky put positioning materialize around 597 on SPY yesterday after Trump pretty much gave the nod to direct US involvement in the Iran Situation. This predictably has some MAGA folks pretty upset. This kind of situation is chaotic, so volatility will need to rise - that usually means stocks go down.

Europe has been locked into a “Straight Down” move over the last 3 days and that spell has finally broken. They are up about 0.77% as I type this, so it wouldn’t surprise me to see the US indexes try and match that performance this morning. I’ve circled where we are in the chart for Europe. We are due for a bounce and after that, we need to start to crawl into a bunker because we could sell very hard. Last time it started a Bear Market.

You Are Here for Europe

Don’t forget tomorrow is a market holiday, so this FOMC decision will hang in the air for a while through Thursday. That’s kind of unique.