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July 27th-31st

COT - AMs still not buying or chasing price. The longs that the Leveraged funds and retailers are taking; the AMs are using them to de-risk and sell their inventory. No conviction to go higher yet. As for limit orders in the books; there is a lot of spoofing that is happening. Every day or every other day, we are seeing limit orders on NQ worth 600-900 contracts and before the price comes to it; they vanish. Only letting 1 or 2 touch but that isn't enough for the price to rocket up. FVP (flexible volume profile) 660 being the lowest POC marking. 684-700 being the previous high and 2 gaps waiting to be filled. This theory stands until we see AMs buy. 

OPTIONS - Deep negative gamma at -5.7B as per INSIDER FINANCE GAMMA LEVELS SECTION and zero gamma at 754. Tight margin price on the top of the Dealer hedge range and expected weekly range. Meaning they will short the tops aggressively and let the price slide down. P/C ratio is elevated and been like that for 3 days last week. Once it gets closer to 1; we are looking at taking longs then. Until then we are shorting. At 1 or near to 1, we can see if the AMs will long the indices and futures. VIX is in + gamma and highest strike at 25. 17 being the closest and lowest strike with most concentration. 

OTHERS - Wednesday is FED rate decisions and conference. Thursday July 30th is the biggest macro data. 

((NOT FINANCIAL ADVICE))