What Would Change My Mind

• If SPY sustains a close above $780 flip level for three consecutive sessions before NFP → negative gamma regime fractures and dealer short hedges convert to forced covering, reversing reflexive selling pressure. • If QQQ breaks above $735 resistance while VIX falls below 13 and IVR100 inverts positive across four of six names → structural transition signals gamma dominance has shifted to positive, eliminating the mechanical headwind into next week's data. • If NVDA holds above $220 flip through options expiration while AAPL reclaims $315 support simultaneously → dealer positioning reveals asymmetry in hedging across mega-cap tech, suggesting gamma constraint may be sector-specific rather than regime-wide.