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Aug 31st - Sept 4th
Futures - We were right on the call that the market will flush or take out the weak hands before going up…that can happen multiple times. We currently still in that phase as the AMs paused buying on ES but not on NQ. They are all setting up hedging for tail risk. 

Core Market Structure Trajectory August 18 COT Phase: CTAs underwent a massive gross de-leveraging event in ES, dropping over $38k long contracts while Asset Managers (AMs) stepped in to passively absorb inventory ($+10k net long). In NQ, momentum was driven by a violent CTA short squeeze (over $18.9k shorts covered).August 25 COT Phase: CTAs flipped back to actively opening fresh short positions in ES ($+18k shorts) alongside continued long liquidation, pushing open interest down significantly. 
AMs continued to accumulate gross longs in both ES and NQ, though in ES they added short hedges ($+8.5k to protect against deeper short-term volatility. Pre-Quad Witching Dynamics: The market is navigating a classic 30-day pre-expiration shakeout prior to the September 18 Quad Witching cycle. The combination of negative gamma dealer hedging, CTA de-risking, and the upcoming contract roll (ESU26 to ESZ26) is creating expanded ranges and liquidity flushes designed to clear out over-leveraged short-term positions.
.- Gemini

DOM - Showed a lot of activity on the MBO ladder. CTAs and AMs were trading the markets with each other. Sell 500 contracts; met with 500 iceberg buy orders and that type of activity. 

Options - Negative gamma and 770.82 0GEX for this week.760 and 765 are put walls and 772 is call wall. 
News - August 30 update. 59.7% interest rate hike and 40.3% no change for interest rate. Tuesday, Thursday and Friday are 3star impact news.

((NOT FINANCIAL ADVICE))