ASX 200 — pivot levels for the week

Range-bound between 7,820 and 7,950. Bias neutral until A-VIX clears 14.

Levels

• Resistance: 7,950 (gap fill from April)
• Support: 7,820 (50-day EMA)
• A-VIX: 13.1 — low, no urgency to chase

Setup

ASX has been chopping in this 130-point band for 3 weeks. Without a VIX expansion or a clear breakout, I’m staying on the sidelines for directional positioning. Premium-selling on the index isn’t favourable here either — both ASX option liquidity and A-VIX levels are too thin.

Watch list

If price breaks above 7,950 on volume, I’ll re-evaluate for a small Bull Put Spread on XJO weekly options. Below 7,820, the next clean level is the 200-EMA at 7,710.