Gamma levels tell you the dealer-hedging context. IFVGs tell you the precise level inside that context.
Most reversal points on $NQ this week happened at this kind of confluence.
Many traders watch IFVGs OR gamma levels. The pros watch both — and the interaction predicts where price reacts.
Here's a real example on $NQ 5min chart for 06/09
Bullish IFVG formed near P1 gamma (put wall). Dealer hedging flips supportive in that zone, and the IFVG marks a specific price level for the reaction.
The combination = high-probability long.
Today SPY bounced off 396. It closed at the 50 day sma. If it crosses and closes below....Look for further weakness and a newer lo in the next few weeks.
A few technical indicators crossed last week. This coming week should be the start of the next leg down in the market. Good luck all SPY QQQ DIA are all shorts now