Actual adults vote for Republicans. That statement may anger you, but I’ll say it again; those with a level of discernment beyond that of a child vote for Republicans.
I don’t do a massive amount of politics on here, or truthfully, in real life. I have no love for politicians, they are merely a necessary evil. Why the statement?
Actual adults understand a few things…
The current Democratic Party refuses to accept the science of biology, stymy the flow of illegal aliens, identity voters through ID, recognize your Right to firearms (as outlined in the 2nd Amendment), and reject the ideas of Karl Marx as incongruent with the Constitution. They play games on the State level to block those who seek to reveal corruption and fraud. They literally named a law after Nick Shirley to prevent others like him from revealing massive scams in their State like he did in Minnesota. These are not the actions of rational adults, but rather emotional, power-hungry children who seek to upend our Nation as long as they personally benefit.
I am under no delusion that Republicans will deliver everything I want. They have been tepid at best the past two years. I’m also no Trump sycophantic. Many of his positions would have been considered middle-ground in the 1990’s Democratic Party. He and the Party he leads have managed to deliver a few victories in areas that matter. The southern border is the most secure that it’s been in my lifetime. The NFA is currently starving for oxygen. Some common sense has been applied to preventing men from parading as women to crush their athletic dreams and act as government endorsed voyeurs in bathrooms.
Trump is bombastic and publicly treats the Office of the Presidency as a celebrity position. Behind the scenes, it’s clearly different. I highly approve of some of the moves he’s made and shake my head in frustration at others.
Trump is not on the ballot this election. Who is? Local representatives and managers, many House Representatives and some Senators; for some of you Mayor or County Sheriff. These are the people whose decisions will truly impact your life regardless of what the man who is not up for reelection does.
Rational adults vote for the representation that doesn’t promise to steal what you have, give it to noncitizens, take away your right to self-defense, upend our founding documents, and allow the replacement of equal justice with Sharia law. The current Democratic Party endorses ideas that indoctrinate your children into ideas that prevent you from ever having grandchildren. They support that which will literally end your family line; they gain power and you lose your legacy. At this point in time, that rational option is by and large the Republican Party.
Will Republicans likely fail to live up to all of their campaign promises? Beyond a doubt. A mature adult knows that and yet understands the opposite choice is guaranteed destruction. Naïve children make choices on emotions, “the feels”, promises of free stuff and believing that politicians won’t disappoint them. Rational adults stoically weigh the options based on projected course and values.
The Iran war will not immediately end no matter which way you vote. Gas prices also don’t turn on a dime. No matter who you choose, inflation will not immediately disappear and Congress will spend money. I have my gripes, as do you. They are valid. National suicide is not the answer.
Until the Democrats produce another JFK like option, eschew their current values and platform, you must do your job as a rational adult and block them at the voting booth and in the public square. Anything less is puerile.
🚨🚨🚨POSITIONING SPX GEX LEVELS: Jun 17 (Warsh Decision Day).
This is the most structurally significant session since the start of March. Warsh's first rate decision at 2 PM. His first press conference at 2:30. The market gets repriced and then stripped in consecutive sessions.
The structure going in:
Net GEX at +$788M. The blanket shed 33% in one session, from $1.17B to $788M, as institutions hedged both tails into the FOMC. Volume P/C hit 1.65, the second-heaviest non-crisis reading in the series. The market didn't sell. It hedged. That's a meaningful distinction.
The flow tells you exactly how institutions positioned. Below spot: 7,500 absorbed -$85M of new puts. 7,475 at -$40M. 7,450 at -$31M. 7,400 at -$29M. That's $185M of new put gamma loaded from 7,400 to 7,500 in a single session. Hawkish protection. Above spot: 7,600 absorbed +$47M of new calls. 7,550 at +$21M. 7,650 at +$18M. That's $86M of new call gamma loaded from 7,550 to 7,650. Dovish positioning. The put-to-call ratio on new flow: 2.1x. Institutions are hedging the downside twice as hard as they're positioning for the upside.
The flip cluster expanded to 43 levels, the most fragmented reading in the series. The highest flip sits at 7,556, 44 points above spot. The structure near price is contested. The gamma at spot reads +$7M, effectively zero. One session of aggressive put buying pushes the regime negative. One session of call buying pushes it firmly positive. Warsh's language will determine which.
Here's what the structure tells you about each scenario.
Dovish or neutral hold: The 7,600 magnet at +$129M pulls. The $86M of new call positioning above activates. The COG at 7,649 (+1.8%) draws price toward it. The magnets at 7,650 (+$68M), 7,700 (+$80M), 7,800 (+$56M) stack above. The structure supports a grind from 7,512 toward 7,600 and potentially higher. IV compresses. The blanket thickens.
Hawkish surprise: Spot breaks below 7,500 into the $185M of new put gamma loaded yesterday. The 7,400 accelerator at -$29M activates. The 7,300 at -$29M below that. The flip cluster at 7,420-7,490 collapses and the regime flips negative. IV spikes. The blanket evaporates.
The 7,500 strike is the pivot for both scenarios. At +$65M it's the strongest support level below spot and only 12 points away. If 7,500 holds through the statement, the structure stays positive. If 7,500 breaks, the next support is 7,425 at +$14M — thin — and then the accelerator chain fires from 7,400 down.
Before 2 PM, expect compressed ranges. The blanket at $788M suppresses. Dealers lean against moves. The market holds its breath.
After 2:30 PM, the gamma structure becomes directional. Warsh's language determines whether the call positioning above or the put positioning below is correct. The side that's wrong unwinds. The side that's right amplifies.
Thursday's quarterly OPEX strips 25.8% of the remaining gamma regardless of what happens. If Warsh is dovish and the market rallies to 7,600, the OPEX drain hits a structure at highs. If Warsh is hawkish and the market sells to 7,400, the drain hits a falling structure. The drain is agnostic.
Tomorrow's expected range: 7,425 – 7,625. The widest FOMC range of the series. Pre-2 PM: 7,475-7,550 (compressed). Post-2:30 PM: the full range activates. Direction is Warsh's to determine. The structure amplifies whichever way he points it.
Structural floor: 7,155 (-4.8%).
solana:J3NKxxXZcnNiMjKw9hYb2K4LUxgwB6t1FtPtQVsv3KFr $SPY $QQQ #FOMC