The market has been experiencing a wild ride lately, with volatility reaching new heights. Today was no exception, as the SPX tanked nearly 1.7% and closed at 6,737, breaking below the 6,800 pivot gamma level. This is a significant development, as it marks a clear breakdown in the market’s recent trend.

The rejection of the 680 Key Gamma Strike is also a cause for concern, as it suggests that buyers are losing their momentum and sellers are gaining control. This could lead to further declines in the near future, especially if the 679 Hedge Wall is broken.

The QQQ also saw significant declines today, dropping below its Hedge Wall level and deteriorating further as high beta tech got hit. This is a red flag for investors, as it suggests that even the most speculative and high-growth stocks are not immune to the market’s volatility.

Overall, today’s developments suggest that the market may be in for a rough ride in the coming days and weeks. Investors would do well to keep a close eye on their portfolios and be prepared to adjust their strategies as needed. With so much uncertainty and volatility in the air, it’s more important than ever to stay informed and agile in today’s markets.