OANDA:SPX500USD   S&P 500 Index
Good morning.

Dealer gamma registers at extreme -1208MM. Liquidity is very thin which can unleash big moves in both directions. Open interest data shows that investors bought out-of-the-money-puts en masse yesterday, which makes the very low VIX reading even more obscure.

This is a dangerous and very fragile market. Do not rely on technicals and stay protected (a stop-loss order does NOT protect).

More updates later.
Comment: I APPRECIATE THE LIKES AND THE HIGH VISIBILIY OF THIS REPORT, BUT PLEASE SWITCH OVER TO THE MOST RECENT REPORT!

And sorry for yelling :)

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