S&P 500 Gamma Noon

Quick S&P 500 update. The market was not able to hold very well supported levels, which is a negative signal. Gamma inversion moved up ten points to 4650. Below 4675 and 4550 there are no significant markers, the market would be "on his own".

The catalyst behind recent weakness are Omnicron and inflation, despite no fundamentally new data. Yes, Omicron is spreading fast, but that was known and it is still not clear if that's a positive or negative. Yes, according to the NY Fed survey US consumers expect 6% inflation over the one year horizont, but that was to be expected after last weeks data points.
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