What Would Change My Mind

• If QQQ sustains above $750 flip level through three consecutive closes before NFP → negative gamma regime breaks structurally, dealers shift from net short to delta-neutral positioning and mean reversion dynamics re-emerge as dominant. • If SPY gaps below $769 on any macro headline in next five days without immediately recovering intraday → dealer short gamma accelerates into forced hedging, creating mechanical downside acceleration through $760-$755 support cascade. • If NVDA closes above $220 flip while six-of-eight gamma names remain negative simultaneously → contradicts the concentrated gamma compression thesis, signaling either selective dealer de-risking or institutional rotation that fragments the unified tape structure.