 Hello everyone, welcome to Options with Doug. Streaming live daily on Bookmap Discord and the Bookmap YouTube channel at 1.30 p.m. Eastern Time. Oops, wrong slide. Before I get started, I need to go through the Disclosures. General Disclosure. All BookMap limited materials, information, and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. Risk disclosure. Trading futures, equities, and options involve substantial risk of loss and is not suitable for all investors. Pass performance is not necessarily indicative of future results. Here's my contact information. The best way to get in touch with me is through Discord. My name on Discord is Doug P. Also in Bookmap Discord, there's an Options-Doug chat channel that's a great place to post questions, comments, and content related to the topics of my presentation and the topics of the channel that I'll go through in just a moment. I'm also on X, formerly known as Twitter. My name there is at Doug Plus. The focus of my presentation today and the focus of the Options-Doug chat channel is Options, Order Flow, the impact of Options markets on stocks and futures, and the influence of market maker hedging flow on price action. I have a two-step process for trading in the first is planning. I look at how traders and market makers are positioned at the options market and how those positions change from day to day to develop a thesis regarding the expected trading range and volatility for the day as well as a directional bias. And the second step in our process is execution. I look at real-time order flow in Bookmap and real-time market maker hedging flow in Spot Gama Hero to confirm my thesis and for setups for entries and exits. And when I talk about setups today, I will be talking about setups in an underlying asset. Those setups can be taken any number of ways. For example, S&P 500 setups can be taken with ES futures, SPY shares, SPY options, SPX options, or even ES options. And if there's a case where a setup may work better with options rather than shares or futures, I will point that out. Questions and comments are welcome and I will be watching both the Options-Doug chat channel and Discord as well as the chat and YouTube for your questions and comments. Please feel free to post and I'll do my best to answer your questions. And hello, Soft-hearted. Welcome. Glad you're here. Hello, Floyd's Garage. Welcome. Glad you're here as well. All right. Here's my agenda for today, Tuesday, December 5th. First of all, I want to go over news items, economic data, and events for today as well as the rest of the week. Then I'll go through my positional analysis. Then I'll review some setups from earlier today. And then I'll talk about the live market. And when I get to the live market, if anyone has any stocks they want me to take a look at, I'll be glad to do that. Please let me know and I'll do my best to take a look at that stock. All right, let's get started. News items. There were a couple of, I guess, lower impact or medium impact data releases today. First of all, there was some PMI data out. Let's go to the SB 500. There was some PMI data out at 9.45 and at 10 a.m. The 10 a.m. data with the 9.45 a.m. data came in in line. And then the 10 a.m. services PMI was greater than expected, also greater than the previous number. And the immediate reaction to that data at 10 a.m. was bullish, leading to a pretty sharp jump higher in the ES futures. Most of that came back down close to VWAP, but a sharp jump higher. Also, there was a jolt's number that was lower than expected. That's job openings lower than expected, lower than previous. Maybe the reaction was to the jolt's number. So anyway, PMI data greater than expected, greater than previous, and the jolt's number less than expected, less than previous. So anyway, there's the reaction in the SB 500 ES futures. All right, for the rest of the week, tomorrow the ADP employment report is out at 8.15 a.m. Eastern time. Then on Friday the jobs report. This is the monthly jobs report that has been delayed a week. It will be on this Friday at 8.30 a.m. Eastern time. And then at 10 a.m., Michigan consumer sentiment data comes out. All right, so a pretty light week this week. And then it picks up pretty substantially next week with CPI data, FOMC meeting and announcement, and also the large, very large December expiration on Friday. And that will also be the futures contract roll over. I'll talk more about that next week. All right, let's get started with positional analysis now. So this is the ES futures and book map, SAP 500 futures. And before I take a closer look at this chart, I want to take a look at a larger time frame. I'm going to go to an SPX chart. This is the SPX 30-day one-hour chart. First of all, I want to point out the key turning points on this chart. This is the October 30th. This is when the rally began. On the Friday before, traders were loading up on puts concerned about weekend risk. And then on Monday, as price increased, implied volatility dropped, market makers could buy back short futures. And that led to a huge IV collapse, put Vanna rally. And during this time, market makers position on the gamma curve was shifting from negative to positive. And as that gamma position shifted more positive, price slowed down. Then it was boosted higher by the CPI report that came out on November 14th, much better than expected. And the grind higher continued really up until about this Wednesday a couple of weeks ago. And since then, in a positive gamma environment, the SPX has been consolidating between around 4550 and 4600. All right, let me point out some levels on this chart. And before I do that, I'm going to zoom in just a bit here so we can see this more clearly. So here's the consolidation between 4500 and 4600. This still continues. All right, levels. First of all, the dash purple lines are showing the lower and upper weekly expected move. That's based on the options market that that is updated. I update that once a week over the weekend. Those levels remain there for the week. Then the dash blue lines are showing the lower and upper daily expected move. And I update that once a day. So SPX is training in between in the expected range in between the daily expected move as well as the weekly expected move. All right, the dark red lines are showing the spot gamma levels. These are proprietary spot gamma levels. Based on open interest spot gamma provides their own algorithms to these levels to to that open interest data to come up with these levels. I'm going to point out the key daily levels. First of all, here's the put wall at 4400. That's a strike with the largest net negative gamma that can be expected to act as support. The next level up is 4545. That's the volatility trigger that is spot gammas proprietary volatility flip level. Below that level, market makers position on the gamma curve is negative. In a negative gamma environment, market makers have to trade with price to hedge their delta exposure. And that tends to enhance or increase volatility. And note that level did move up from 4500 yesterday. Back to 4545. Just above that is the 4550 absolute gamma strike. That's a strike with the largest absolute positive and negative gamma. So that's where most of the gamma weighted open interest is concentrated. And then above that is the call wall at 4600. And that's a strike with the largest net positive gamma that can be expected to act as resistance. So as I mentioned before, this 4550 to 4600 is the is the current range. And note that excuse me note that 4550 is the absolute gamma strike. And that did shift lower from yesterday. It was at 4600 yesterday shifted down to 4550. So really the key key range for for the SB 500 looking at just absolute gamma is 4500 to 4600 with 4550 being the the central point, the absolute gamma strike. All right, so I talked about shifts and levels volatility trigger higher absolute gamma strike shifted lower. And those are the key daily levels for the SPX. Now let's take a look at a one day chart just to get a closer look at the SPX levels that are in play for today. So this is actually three days worth of data one minute chart. I'm showing this to show the 4600 call wall 4600 call wall acting as resistance. That was on last Friday. And then here's the 4550 level more or less acting as support lower bound. And note that SPX is above its volatility trigger at 4545 in a positive gamma environment. Or let's take a look at book map now. So book map I have my own cloud notes. So I can show SPX levels. There's that 4550 level. It did act as support just before the cash open almost to the tick. So that is SPX 4550. Now there is a difference in price between SPX and ES. And today it is somewhere between six and seven. It looks like it may be closer to seven now. I was it was closer to six this morning. That's what I'm using. So somewhere between six and seven, I'm using six. So I'm showing SPX 4550 at ES 4556. And it may be a little bit higher than that. So I also have spy levels on this chart. There's the spy 455 absolute gamma strike. That level shifted lower as well. Just like SPX, the absolute gamma strike shifted lower for spy to 455. And also for spy, the volatility trigger shifted lower. So this 455 acted as the first pullback point for along this morning. Here's the 456 absolute gamma strike. I'm sorry, the zero gamma level for spy. And then the spy large gamma two level. And the point of control is several between those two levels. That's where most of the session volume is concentrated. That's a session volume profile. So the SPX is in a positive gamma environment. This range mean reverting price action is very typical in a positive gamma environment where market makers are trading against price to hedge their delta exposure. All right, so those are the levels in play for today, both SPX and spy levels. Stephen asked, what is the difference between the absolute gamma strike and zero gamma? So first of all, the absolute gamma strike. Let's just take a look. And let's go to, we're on SPX. Let's go to SPX. This is the absolute gamma at different strikes. Orange bars are showing called gamma, positive gamma, blue bars showing negative gamma put gamma. There's the 4550 level. So that is a strike with the largest absolute negative and positive gamma. So there really is not much relationship between the absolute gamma and the zero gamma level. So this is the absolute gamma strike for SPX. Here's the call wallet 4600. That's a strike with largest net positive gamma. So just take the gamma on the orange bar, subtract the gamma on the put bar, come up with the largest positive absolute net positive gamma. Note also the amount of gamma concentrated at 4500, like I mentioned. So this is the, this is the range 4500 to 4600 where most of the gamma weighted open interest is concentrated. Alright, so that's absolute gamma. Then let's go to the gamma curve. Actually, let's, we may be able to find a better, this one I cannot, it's actually not showing the zero gamma level. The zero gamma level is at 4509. So that's where gamma actually shifts. It's right here where gamma shifts from negative to positive. So that's the zero gamma level. And typically, spot gamma looks at the volatility trigger, giving that more, looking at that with more importance than the zero gamma level. The zero gamma level is the point on this curve where it actually shifts from negative to positive. Alright, Stephen, I hope that answers your question. Alright, let's take a look at NASDAQ now. And Stephen, if you want more information, just go to spotdama.com. Look at the free resources. If you're not a subscriber and there's plenty of information on all the levels there. Alright, so this is the NQ Futures and Bookmap. Before I take a closer look at this chart, I want to isolate, first of all, QQQ levels. So this is a one day, one minute chart in QQQ. This is showing the 384 level acting as support this morning. Alright, that's QQQ. And for QQQ, the volatility trigger shifted lower just like spy. And also the absolute gamma strike shifted lower to 385. So there's the absolute gamma strike for QQQ. Alright, let's take a look at NDX. This is a three day chart. I'm showing this 16,000 level that's been in play for for some time acting as resistance on Friday. Now this 15,825 level definitely in play. That is the call wall and the absolute gamma strike for NDX. Alright, let's take a look at Bookmap now. So Bookmap, just like the S&P 500 ES Futures, I have my own cloud notes. So I can show QQQ levels, NDX levels, and other levels of interest like the, there's the upper daily expected move, lower weekly expected move, and then this cluster of levels right now that you can't see the, see the label, but the 15,825 NDX call wall absolute gamma strike is in there in that cluster of levels. And there's the QQQ 385 absolute gamma strike. So the most important thing here is the 384 QQQ 384 acting as support, and then really this upper daily expected move acting as resistance. And we'll take a look at setups in a few minutes. Alright, let's take a look at Gamma Notional now to see how market makers were positioned on the gamma curve at the beginning of the day. I'm going to go back to spot gamma. I'm going to take a look at Gamma Notional. This is market makers positioned on the gamma curve at the beginning of the day for the SMB 500 NASDAQ and Russell 2000. Note all these numbers are positive, but for the SMB 500 and NASDAQ, they did shift lower from yesterday. All still positive. So what this means in a positive VM environment, traders are short calls, market makers are long calls, and they have to trade against price to hedge their delta exposure. And that tends to subdue or decrease volatility, leading to more mean reverting price action range days rather than large trend days. Now for the Russell 2000, Russell Rutt and IWM, these numbers actually increased from yesterday, so it became more positive. Less positive for the SMB 500 and NASDAQ and more positive for the Russell 2000, but again all positive. Alright, let's take a look at the Vana model now and we can get a graphical representation of what that means. So what that chart is showing is market makers Delta Notional, their delta exposure on the vertical axis and the spot price for SPX on the horizontal axis. There are two curves on this chart. The first, the light gray curve, shows how market makers Delta Notional may change with changes in price only. The purple curve adds implied volatility to the equation. That shows how market makers Delta Notional may change with changes in price and implied volatility. And that change in delta with the change in applied volatility is the Vana effect. Vana is a second order Greek and that's the curve that we want to take a look at, the purple curve. Alright, let's take a look at price now. SPX currently trading right around $45.64, so toward the bottom of this curve indicating at this point there's no not much of a Vana tailwind or headwind. Then if price starts to decrease, implied volatility increases, market makers will need to sell futures to hedge their delta exposure. And then above around $4,600, if price increases above $4,600, market makers will need to start selling futures to hedge their delta exposure. And that's typical of a positive gamma environment. So right now SPX toward the bottom of the curve, no Vana headwind or tailwind at this point. Let's check SPI. SPI currently trading right around $456, also close to the bottom of the curve. So this is showing again if price decreases, implied volatility increases. Market makers will need to sell futures to hedge their delta exposure. And then price starts to move above around $4,600, market makers will need to sell futures. Remember, they always want to remain delta neutral. So when their delta exposure increases, they have to sell futures. And finally, let's check QQQ right around $386, also on the bottom of the curve. All right, Floyd's garage, I'm not sure I'm, is that a question? I'm not sure. Not sure I understand that. All right, let's take a look at some setups now. First thing that I want to do is take a look at how options traders are positioning themselves, how they're trading today. This chart is the hero chart hedging impact real time options. So everything that we've looked at so far other than book map has been based on static data that's updated once a day. Spot gamma takes open interest data from the OCC applies their own algorithms to come up with the levels on the Vana model. Everything that we've looked at so far, everything that I use in my planning process. This is real time data. This is showing options trades and market maker hedging activity in real time. In this case of this chart for a combined signal of SPX spy XSP and ES futures. The white line is the price for SPX. And the purple line is the hero signal. Again, hedging impact real time options showing options trades, market maker hedging activity for that combined signal. A rising line indicates positive delta positions. Traders are taking positive delta positions. Market makers take the other side so they have to buy futures to hedge their delta exposure. All right, let's take a closer look at this chart. We'll start again with the SP 500. I'm gonna zoom in a bit. All right, this is the cash open right here. 9.30 a.m. Eastern time. And noticed almost immediately traders were taking positive delta positions. Note the timely flow alert indicating significant options activity. All right, let's separate outputs and calls now and see what options traders were doing. And in the morning traders were buying calls that show them oops wrong tool. Show them by the rising orange line when traders buy calls. Sorry about that. I thought this issue had been resolved. Apparently it's still an issue with this separated outputs and calls. So let's go back to the total signal and we'll just leave it at that. So we know that traders were buying calls this morning. So again, when traders buy calls, market makers sell the calls and they have to buy futures to hedge their delta exposure. I'm talking about calls and SPX, SPY, ES. And notice as soon as the options traders take their foot off the gas, start taking negative delta positions, price moves lower. All right, let's go take a look at book map. Take a look at that setup in book map. So we'll go back to ES. Gonna zoom in. So this is I mentioned this before just before the cash open that 4550 level acting as support. It was noted as support in the spot gamma and founders note. Price moved up. Traders were taking positive delta positions buying calls. There was a pullback to the 45455 absolute gamma strike for SPY and good entry point for long that pullback again to 455. And then there's the 10 a.m. data. Price comes back to VWAP. Another good entry point is traders continue to take positive delta positions. And then just after 11 a.m., price reverse pretty sharply lower. Note at these entry points, especially right here right around the 456 level, the order flow shift, the volume dots are showing market buy minus sell. Magenta dots indicate more sellers than buyers. Green dots indicate more buyers than sellers. So there's the long setup this morning. This was pretty sharp drop. I I'm not sure if there was any news. We'll take a look and and see what the we'll take a look and see what the magnificent seven was doing in in just a minute. Alright, so there's a definitely a good long setup in this morning. Multiple pullback entries primarily to VWAP or close to it. If you miss the initial entry at 455. Or let's go back and take a look at at hero again. And hero at Floyd's garage. I think maybe looking at this right here, this this divergence will keep an eye on this hero shifting pretty sharply lower. So far price not responding. Typically I find that the hero signal and price action, there's a stronger correspondence correlation in the morning than the afternoon. Alright, so that is the SB 500. Let's take a look at another signal that has a very strong influence above the SB 500 and the and the NASDAQ that's this mag seven. This is a combined signal for the stocks known as the magnificent seven Apple, Amazon, Google, Meta, Microsoft, NVIDIA, and Tesla. Zoom in on this chart. So this morning, traders were taking positive delta positions in the magnificent seven. The dip buyers were in taking advantage of the recent weakness in these stocks and that move lower in the SB 500. And we'll see a NASDAQ in a minute was about 1107 right around here. And note before that the hero signal for the magnificent seven made a lower high. So a little bit of a leading indicator on that sharp drop lower. And then both the SB 500 and NASDAQ did move lower as traders started taking negative delta positions in the magnificent seven. And recently this signal, the hero signal for magnificent seven has been a better indicator for the NASDAQ than the than the actual NASDAQ signal that we'll take a look at in just a minute. So let's take a just a quick look at the puts and calls rising orange line showing traders were buying calls this morning in the magnificent seven stocks. Or let's take a look at NASDAQ now. Pretty choppy signal. Let's zoom in on this. So just looking in the looking at the morning here, let's again separate outputs and calls. So in the morning traders were buying calls and selling puts and the selling puts lasted until about 10 a.m. So during the morning that's shown by the rising blue line and also rising orange line showing traders buying calls. So the morning both the blue line and the orange line moving in the same direction and that's a very powerful directional indicator. And just like the SB 500 now it appears there's a pretty big divergence between a hero and price. All right so that auto zoom issue is not not only associated with with puts and calls but with the total signal as well. All right let's go to take a look at book map again. So after this move higher that was confirmed by order flow and especially hedging flow traders buying calls and the SB 500 the sharp move lower that was preceded by a lower hero signal in the magnificent 7 hero indicator. And notice also the aggressive buyers on the way up and then the shift in magenta volume dots to magenta a lot of aggressive sellers coming in. And since then the SB 500 has oscillated up and down around the spy zero gamma level. All right let's take a look at NASDAQ now. NASDAQ very similar picture 384 acting as support just before the cash open. Note the shift in order flow. Magenta dots aggressive sellers on the way down. Aggressive buyers start to come in shown by the rising cumulative volume delta. Also buy stop orders shown by the rising orange yellow line indicating buy stop orders helping to fuel the move higher. That's also shown by the small green dots all the way up to the upper daily expected move almost to the upper daily expected move. Also NASDAQ rolls over about the same time as the magnificent 7 traders started taking negative delta positions right around 1107 and now consolidating between 386 and 387. All right let's take a look at some stocks now. Let's go back to hero. So again a very choppy signal for from NASDAQ. I like to look at this magnificent 7. These are also the stocks that I trade on a regular basis. All right let's take a look at some of those stocks. So first of all Apple. So very sharp move higher for Apple on the morning. Note 190 the key gamma strike. It's almost impossible to see but there's a flow alert. Looks like right at the open and traders were buying calls. That's shown by the rising orange line when traders buy calls market makers sell the calls and they have to buy stock to hedge their delta exposure. So in the morning traders were buying puts and buying calls and the call buyers were more aggressive and net overall and certainly driving price. Again when traders buy calls market makers sell the calls they have to buy stock to hedge their delta exposure and again call buyers more aggressive net the hero line is rising. And note this is a very typical pattern options traders take their foot off the gas and price consolidates and or moves lower. So in this case this would be a very good opportunity to either buy a put spread or sell a call spread. I wouldn't necessarily buy a put especially for a stock like Apple that doesn't move that much but definitely a good opportunity excuse me a good opportunity to either sell a call spread or buy a put spread. And all you're doing there is saying I think price is going to remain below the certain level. Let's go take a look at book map. So the sharp move higher in Apple almost looks like Nvidia or Tesla. I don't know if I've ever seen a move like that in Apple up three points in the first on the first half hour. Anyway there's Apple good long setup today options traders taking their foot off the gas and price consolidating. All right trout fly asks how do you like to personally use the delta column on your book map chart. I'm not quite sure what you mean the delta column. I have the session volume profile that's on the far right. And this is the chart volume profile showing the volume profile for whatever information I have on the chart. Then I have my cloud notes and then the current order book. And I do use all those columns. All right so there's Apple. All right Justin says he means the cumulative cumulative volume delta. If so I do use that only for futures. I typically don't look at that for for stocks. It can be misleading I think for stocks but it is a very good indicator directional indicator for futures. All right so that's Apple very bullish day in Apple. Dip buyers coming in call buyers. All right the next stop is stock is Nvidia. Let's go take a look and see what options traders are doing in Nvidia. Separate outputs and calls. So in the morning traders were buying calls shown by the rising orange line and they were selling puts shown by the rising blue line. Notice the blue line levels off. Also the call line levels off. Price consolidates. Call buyers come in move price a little bit higher. They take the foot off the gas. And now price is consolidating. Total signal. All right so very strong day in Nvidia. Let's go take a look at book map. So remember Nvidia reported earnings last week I believe. I was trading up around 500 and reverse lower at the 500 call wall at the time after the earnings report traded has traded down close to 450 and maybe that that may be the hopefully the support level for Nvidia I added to my long position this morning. All right. Trout 5 says yes that's it. So we'll take a look at cumulative volume Delta when I get get back to futures. All right so Nvidia very strong day today. Dip buyers coming in buying calls and also selling puts. Let's go back to hero. Take a look at the net for the day. So both the notional value for the orange line the call line and the blue line are both positive indicating traders are buying calls and selling puts. So coming in and and buying Nvidia. Let's go back to book map. And Nvidia was also moving pretty quickly this morning. Let's just zoom in on this. Assuming in a little bit we see there are plenty of pullbacks for long entries. Right around 940 to VWAP. Back to the 457 level. Some consolidation around 460 and then price moved on up to the target at 465. The liquidity targets typically higher liquidity. These are limit sell orders in the order book. That's what the heat map shows a history of the limit sell orders in the order book. And for high high price stock like Nvidia typically most of the liquidity is at the zeroes in the five levels. So the 460 and the 465 level these levels of high liquidity acting as magnet for price especially for stock that that moves as much as Nvidia. All right so dip buyers coming in again today for Nvidia now making its way back up to 465. And Nvidia big driver of the Magnificent 7 which are big drivers of the SB500 and NASDAQ. All right the next stock I want to take a look at is Tesla. Let's go back to hero. And note I'm not sure I mentioned it but this flow alert. Very timely flow alert to get your attention indicating significant options activity. Again very timely. If you got it in around that area that would that was a great long. Let's take a look at Tesla now. So strong day in Tesla as well. Notice that really for the first hour there was not much not much movement in the hero signal. And then just right around 10 a.m. I guess with the the data that came out the PMI data and the jobs adults report. Traders started aggressively taking positive delta positions. Note the timely flow alert and then price really started to take off as traders continue to take positive delta positions. Let's see what they were doing. So the sharp drop higher in hero and the flow alert signal was due to call buyers. Traders started aggressively buying calls. Again when traders buy calls market makers sell the calls and they have to buy stock to hedge their delta exposure. And as the call buyers take their foot off the gas price starts moving lower. Take a look at that one more time. So net for the day traders are buying calls much more aggressive. They are so net for the day selling puts the notion of a for puts and calls both positive. All right does anyone have any stocks they want me to take a look at. And meanwhile I'll go back to the SMB 500 and take a look at cumulative volume delta. See if I can answer trout flies question. Looks like Tesla giving a lot back today. Let's go to ES. So ES here's the cumulative volume delta that is shown by the magenta line there in the sub chart. Interesting that today the yellow line showing stop orders showing mostly sell stop orders. So after about 11 a.m. these lines start shifting lower which really corresponds to to price. And then the blue line is showing showing iceberg orders. All these numbers are negative indicating large traders are selling with iceberg orders. Typically smaller traders are getting stopped out. These are sell stop orders. And then aggressive traders are selling that shown by the cumulative volume delta all here in the legend negative and also the following cumulative volume delta line. So in this case it would be pretty difficult for me to to take along and especially in this positive gamma mean reverting type of price action. So at least I think for the SB 500 probably the the more clear signal was definitely the long in the morning the the easier money let's say was made in the morning with the clear hero signals for both the SB 500 and the magnificent seven. All right so cumulative volume delta trout fly it's just one piece of a puzzle one more confluence something to take a look at. And again I only look at cumulative volume delta for futures it can sometimes be misleading for for stocks. And here for the NASDAQ CVD makes a little bit more sense shown clearly rising in the morning and then really levels off as price drops and then consolidates. Note also for this CVD line my settings I have the when CVD is negative it's shown by the magenta line when it shifts to positive it's shown by the dark blue line. All right the ego wants to take a look at gold right I don't have GLD in and book map but we can take a look and hero here. So net for the day traders are taking negative delta positions and GLD shown by the negative notional value there let's take a closer look and see what they're doing. So net for the day they are selling calls and buying puts. All right I've got a few minutes left. All right Joel asked about bitcoin sorry I cannot take a look at bitcoin here there's I don't have it in in book map and there's no bitcoin maybe there's that maybe that that ETF let's check the all right so there's the bitcoin strategy ETF so I can take a look at that moving higher traders taking positive delta positions there's some other stocks that are kind of bitcoin proxies like coin base still taking positive delta positions for the day in coin base and you're welcome Diego. All right GBTC all right so Floyd's garage sorry that is not not included in hero so hero does not support it's not included in the list of stocks supported by hero let's take a look at adobe slow to razi indicator dollar hackers breached US government agencies using an adobe cold fusion exploit so let's take a look at adobe and not much impact on the on adobe stock trading up to the 600 key gamma strike or let's go back to the one final check on the S&B 500 and NASDAQ so far a very quiet afternoon in the S&B 500 after that rush higher in the morning more consolidation take a look at NASDAQ and divergence here in the NASDAQ signal but so far NASDAQ continues to consolidate finally let's check magnificent seven so this is why consolidation and those uh those symbols let's check a heat map here so just kind of the opposite of yesterday yesterday uh the green stocks were red and a lot of the red stocks were green so just the opposite of yesterday this is the heat map for the S&B 500 all right my time is up I want to thank everyone for watching thank you very much for your stock request your questions and comments remember ADP report is out tomorrow 8 15 a.m eastern time and we'll talk about it tomorrow afternoon so thanks everyone thanks again I will see you tomorrow bye