SPY near 7707: slightly bullish, but positioned nearly flat and heavily hedged. He watches 7400 as the 200-day moving average rises toward it; a break below could bring a rapid descent, with 6900 acting as a magnet.

I wanted to take my long-term holdings like um SPY, SPLG, whatever,

Instead of somebody looking at a 10% draw down in the S&P 500 and saying, you know, my million-doll portfolio could lose $100,000 on a 10% draw draw down.

I've got covered call ETFs, um, S&P 500 exposure, So today, we're going to look at the S&P 500. We're going to look at what's going on in the market.

So, we're going to start at the S&P 500. Nice little price action right now. I'm very excited about this. We're trading at 7707 and I have like a daily trade on that is today is is um the peak is sitting at 7700.

We've been kind of riding that or I've been kind of riding that for the last little while. So, that trade has been very very nice.

My deltas right now are 25 compared to the S&P. So, relatively flat, but I'm always very very flat. Um many times I'm negative. Right now, I'm slightly bullish on this market. So, if we do start to get a move up, I'm not going going to be losing money if we go down.

I have tons of hedges in. I'm really watching this level down here, the 6920.

What I'm concerned about is a repeat of this kind of price action here. So, if we get into a draw down below this 200 day moving average, this is the kind of move I'm looking for.

This 6,900 could act as a magnet. If we were to break down below this 7,400 level really, that's the level to watch where the two the 200 day moving average is coming up very very close to that.

And in this range, in this trading range between 7,300 and 7,000, very light trading because of the move up that we experienced earlier this year. So, if we were to breach down, uh, it could be rather rapid descent and it's something I'm watching.