Crude oil has topped out between 11:30 AM and noon Eastern for five straight sessions. Brandon Chapman caught the pattern this week.
Every time oil rolled over, the S&P 500 caught a lift. The Iran headlines kept landing in that same window.
Brandon calls these headlines interference. They’re overriding the gamma levels traders normally lean on, at least for now.
Yet, his real edge starts before the opening bell. He checks one private screen, then makes his trading decision in about 6 minutes.
On Thursday, October 1 at 2:00 PM ET, I’m opening that screen live. It’s called THE SWITCHBOARD. All 71 of Brandon’s documented trades go on screen.
Save your free seat for THE SWITCHBOARD on Thursday at 2:00 PM ET
Now, in tonight’s video, Brandon also shows how to read this week’s headline chop session by session:
- Thursday’s rally came on talk of a framework toward a ceasefire. Oil fell and never returned to its highs. The S&P 500 held near its session highs.
- Friday’s rally pushed SPY into positive gamma between walls at 770 and 772. Price stayed locked in that range for the final 2 to 2.5 hours of trading.
- Today’s rally never cleared into positive gamma above 770. Negative gamma took over from there. SPY faded into 765, its highest open interest level, and pinned there at the close.
- Brandon laid out 765 in his trading plan earlier in the session. Playing the retest of 765 as support caught the wave on the Iran announcement.
- Brandon’s playbook for the next headline is simple. Be ready to add or roll, then watch for the first move in oil and the follow through.
The announcements have come more often since Thursday. Brandon expects the interference to continue.
