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$SPY
The gamma side looks supportive in the broader picture, but when we go into the details, the picture gets a bit complicated.
Open interest gamma is positive, and directionalized volume gamma is also positive. This shows that the dealer structure is generally trying to balance the market and suppress price movement.
But the critical point here is this volume gamma is extremely negative.
In other words, the ground is not completely broken, but the risk of sharp intraday momentum, either to the upside or downside, is still high. That is why this structure gives me a supportive but fragile market picture.