{
  "schema_version": 1,
  "date": "2026-07-17",
  "generated_at": "2026-07-16T21:46:11+00:00",
  "sentiment_read": "The tape reads as a mixed, headline-scattered session rather than a coherent one. The macro backdrop flags a positively-sloped 2s10s curve alongside loose financial conditions per NFCI \u2014 a combination that describes accommodative plumbing, not a directive. Single-name news is idiosyncratic and pulls in different directions: a bankruptcy report at Lucid that the company denies, a Caterpillar Q2 2026 earnings preview, questions being raised about hyperscaler capex and returns at Microsoft and Amazon, a valuation argument at UWM, and an Ethereum-staking revenue story at Bitmine. Form-4 insider filings at META and MSFT are on the tape as disclosure, not as signal. None of this coheres into a single macro narrative; it reads as dispersion, with attention distributed across names rather than concentrated in an index-level theme.",
  "the_setup": "The session is front-loaded with data risk. The 09:30 BST cluster is dense \u2014 Retail Sales and its Core, Control, and Ex Gas/Autos cuts land alongside the full Philadelphia Fed Manufacturing complex (Business Conditions, CAPEX, Employment, New Orders, Prices Paid) and the jobless claims set including the 4-Week Average, all inside a single 09:25\u201309:35 blackout. A second cluster at 11:00 BST brings Business Inventories, NAHB, Pending Home Sales and its index, and Retail Inventories Ex Auto. Fed voices are spread across the day: Logan at 13:30, Schmid at 14:25, Jefferson at 20:00, with the Atlanta Fed GDPNow print at 13:00 in between, and Trump speaking at 22:00. Treat each blackout as a window where prints, not structure, set the tape. On levels: with no instrument levels supplied, there is nothing to anchor a conditional map to \u2014 no acceptance or rejection reference to state, and no support or resistance to name. The reference values on hand are macro context only \u2014 2026 for the Caterpillar quarter in question, and the readings -0.538, 0.41, 3.63, 4.13, 4.2, 4.55, 332.568, and 10000 \u2014 and none of them are tradeable levels. Until levels are populated, the map is the calendar: rangebound conditions between the data clusters, with the 09:30 and 11:00 blackouts as the edges of the quiet stretches.",
  "technical_map": {},
  "levels": {},
  "options": {
    "NQ": {
      "symbol": "NQ",
      "proxy_etf": "QQQ",
      "spot": 705.94,
      "expiry": "2026-07-17",
      "dte": 0,
      "expected_move": 8.075,
      "expected_move_pct": 0.011439,
      "expected_move_1w": 20.495,
      "expected_move_1w_pct": 0.029032,
      "atm_strike": 706.0,
      "max_pain": 711.0,
      "gamma_flip": 674.9244,
      "call_wall": 711.0,
      "put_wall": 700.0,
      "net_gex": 3376365802.89,
      "pcr_oi": 1.6566,
      "pcr_volume": 1.4099,
      "heavy_call_oi": [
        [
          800.0,
          45270.0
        ],
        [
          711.0,
          29250.0
        ],
        [
          750.0,
          28697.0
        ],
        [
          740.0,
          25614.0
        ]
      ],
      "heavy_put_oi": [
        [
          630.0,
          55491.0
        ],
        [
          675.0,
          46720.0
        ],
        [
          700.0,
          45900.0
        ],
        [
          685.0,
          36048.0
        ]
      ],
      "note": "Retail GEX estimate from QQQ ETF options as a proxy for NQ; dealer short-call/long-put sign assumption; QQQ \u2260 index \u2260 future \u2014 positioning map, not a measured dealer book."
    },
    "ES": {
      "symbol": "ES",
      "proxy_etf": "SPY",
      "spot": 750.72,
      "expiry": "2026-07-17",
      "dte": 0,
      "expected_move": 4.4,
      "expected_move_pct": 0.005861,
      "expected_move_1w": 10.74,
      "expected_move_1w_pct": 0.014306,
      "atm_strike": 751.0,
      "max_pain": 745.0,
      "gamma_flip": 435.3434,
      "call_wall": 750.0,
      "put_wall": 750.0,
      "net_gex": 924753135.35,
      "pcr_oi": 3.2125,
      "pcr_volume": 1.1848,
      "heavy_call_oi": [
        [
          760.0,
          60153.0
        ],
        [
          750.0,
          37082.0
        ],
        [
          775.0,
          34357.0
        ],
        [
          765.0,
          29944.0
        ]
      ],
      "heavy_put_oi": [
        [
          530.0,
          206019.0
        ],
        [
          540.0,
          205469.0
        ],
        [
          600.0,
          122221.0
        ],
        [
          590.0,
          106369.0
        ]
      ],
      "note": "Retail GEX estimate from SPY ETF options as a proxy for ES; dealer short-call/long-put sign assumption; SPY \u2260 index \u2260 future \u2014 positioning map, not a measured dealer book."
    },
    "YM": {
      "symbol": "YM",
      "proxy_etf": "DIA",
      "spot": 524.83,
      "expiry": "2026-07-17",
      "dte": 0,
      "expected_move": 3.035,
      "expected_move_pct": 0.005783,
      "expected_move_1w": 7.25,
      "expected_move_1w_pct": 0.013814,
      "atm_strike": 525.0,
      "max_pain": 520.0,
      "gamma_flip": 507.7668,
      "call_wall": 525.0,
      "put_wall": 525.0,
      "net_gex": -84008614.52,
      "pcr_oi": 0.7602,
      "pcr_volume": 1.414,
      "heavy_call_oi": [
        [
          535.0,
          5659.0
        ],
        [
          530.0,
          4750.0
        ],
        [
          537.0,
          4429.0
        ],
        [
          525.0,
          2706.0
        ]
      ],
      "heavy_put_oi": [
        [
          520.0,
          3895.0
        ],
        [
          475.0,
          3302.0
        ],
        [
          480.0,
          3256.0
        ],
        [
          490.0,
          3205.0
        ]
      ],
      "note": "Retail GEX estimate from DIA ETF options as a proxy for YM; dealer short-call/long-put sign assumption; DIA \u2260 index \u2260 future \u2014 positioning map, not a measured dealer book."
    },
    "RTY": {
      "symbol": "RTY",
      "proxy_etf": "IWM",
      "spot": 295.59,
      "expiry": "2026-07-17",
      "dte": 0,
      "expected_move": 2.45,
      "expected_move_pct": 0.008289,
      "expected_move_1w": 5.69,
      "expected_move_1w_pct": 0.01925,
      "atm_strike": 296.0,
      "max_pain": 291.0,
      "gamma_flip": 159.8214,
      "call_wall": 295.0,
      "put_wall": 295.0,
      "net_gex": 207205807.51,
      "pcr_oi": 4.9427,
      "pcr_volume": 2.4193,
      "heavy_call_oi": [
        [
          300.0,
          28518.0
        ],
        [
          295.0,
          23889.0
        ],
        [
          320.0,
          23559.0
        ],
        [
          310.0,
          20128.0
        ]
      ],
      "heavy_put_oi": [
        [
          290.0,
          121387.0
        ],
        [
          280.0,
          114326.0
        ],
        [
          285.0,
          110605.0
        ],
        [
          283.0,
          68674.0
        ]
      ],
      "note": "Retail GEX estimate from IWM ETF options as a proxy for RTY; dealer short-call/long-put sign assumption; IWM \u2260 index \u2260 future \u2014 positioning map, not a measured dealer book."
    },
    "GC": {
      "symbol": "GC",
      "proxy_etf": "GLD",
      "spot": 364.96,
      "expiry": "2026-07-17",
      "dte": 0,
      "expected_move": 4.27,
      "expected_move_pct": 0.0117,
      "expected_move_1w": 10.15,
      "expected_move_1w_pct": 0.027811,
      "atm_strike": 365.0,
      "max_pain": 380.0,
      "gamma_flip": 333.2622,
      "call_wall": 370.0,
      "put_wall": 360.0,
      "net_gex": 702635071.9,
      "pcr_oi": 0.7103,
      "pcr_volume": 5.0102,
      "heavy_call_oi": [
        [
          900.0,
          26170.0
        ],
        [
          420.0,
          22681.0
        ],
        [
          450.0,
          22064.0
        ],
        [
          400.0,
          17921.0
        ]
      ],
      "heavy_put_oi": [
        [
          360.0,
          45867.0
        ],
        [
          350.0,
          35356.0
        ],
        [
          370.0,
          23723.0
        ],
        [
          345.0,
          11895.0
        ]
      ],
      "note": "Retail GEX estimate from GLD ETF options as a proxy for GC; dealer short-call/long-put sign assumption; GLD \u2260 index \u2260 future \u2014 positioning map, not a measured dealer book."
    }
  },
  "congress": {
    "window_days": 50,
    "asof": "2026-07-17",
    "trade_count": 461,
    "purchase_count": 256,
    "sale_count": 202,
    "exchange_count": 3,
    "purchase_notional_est": 9031632.0,
    "sale_notional_est": 10823488.5,
    "net_notional_est": -1791856.5,
    "index_purchase_count": 9,
    "index_sale_count": 15,
    "index_net_notional_est": -364003.0,
    "index_tickers": [
      "NVDA",
      "MSFT",
      "AAPL",
      "AMZN",
      "GOOGL",
      "GOOG",
      "META",
      "TSLA"
    ],
    "top_tickers": [
      [
        "HUBB",
        10,
        87005.5,
        10,
        0
      ],
      [
        "AAPL",
        7,
        -32500.5,
        3,
        4
      ],
      [
        "LPLA",
        6,
        48003.0,
        6,
        0
      ],
      [
        "BEP",
        5,
        64502.5,
        5,
        0
      ],
      [
        "BIIB",
        5,
        59001.5,
        4,
        1
      ],
      [
        "ENTG",
        5,
        40002.5,
        5,
        0
      ],
      [
        "TDG",
        5,
        40002.5,
        5,
        0
      ],
      [
        "BSX",
        5,
        24001.5,
        4,
        1
      ]
    ],
    "notable": [
      {
        "name": "Sheldon Whitehouse",
        "chamber": "Senate",
        "ticker": "NVDA",
        "type": "sale",
        "amount": "$100,001 - $250,000",
        "amount_mid": 175000.5,
        "txn_date": "2026-05-08",
        "disclosure_date": "2026-06-02",
        "notable": true
      },
      {
        "name": "Sheldon Whitehouse",
        "chamber": "Senate",
        "ticker": "NVDA",
        "type": "sale",
        "amount": "$100,001 - $250,000",
        "amount_mid": 175000.5,
        "txn_date": "2026-05-08",
        "disclosure_date": "2026-06-02",
        "notable": true
      },
      {
        "name": "Tim Moore",
        "chamber": "House",
        "ticker": "T",
        "type": "purchase",
        "amount": "$50,001 - $100,000",
        "amount_mid": 75000.5,
        "txn_date": "2026-06-04",
        "disclosure_date": "2026-06-04",
        "notable": true
      },
      {
        "name": "Daniel Meuser",
        "chamber": "House",
        "ticker": "SPCX",
        "type": "purchase",
        "amount": "$15,001 - $50,000",
        "amount_mid": 32500.5,
        "txn_date": "2026-06-15",
        "disclosure_date": "2026-06-16",
        "notable": true
      },
      {
        "name": "Thomas H Tuberville",
        "chamber": "Senate",
        "ticker": "AWK",
        "type": "sale",
        "amount": "$15,001 - $50,000",
        "amount_mid": 32500.5,
        "txn_date": "2026-06-08",
        "disclosure_date": "2026-07-16",
        "notable": true
      },
      {
        "name": "Thomas H Tuberville",
        "chamber": "Senate",
        "ticker": "CSX",
        "type": "sale",
        "amount": "$15,001 - $50,000",
        "amount_mid": 32500.5,
        "txn_date": "2026-06-08",
        "disclosure_date": "2026-07-16",
        "notable": true
      },
      {
        "name": "Thomas H Tuberville",
        "chamber": "Senate",
        "ticker": "DUK",
        "type": "sale",
        "amount": "$15,001 - $50,000",
        "amount_mid": 32500.5,
        "txn_date": "2026-06-08",
        "disclosure_date": "2026-07-16",
        "notable": true
      },
      {
        "name": "Thomas H Tuberville",
        "chamber": "Senate",
        "ticker": "LMT",
        "type": "sale",
        "amount": "$15,001 - $50,000",
        "amount_mid": 32500.5,
        "txn_date": "2026-06-08",
        "disclosure_date": "2026-07-16",
        "notable": true
      },
      {
        "name": "Thomas H Tuberville",
        "chamber": "Senate",
        "ticker": "MA",
        "type": "sale",
        "amount": "$15,001 - $50,000",
        "amount_mid": 32500.5,
        "txn_date": "2026-06-08",
        "disclosure_date": "2026-07-16",
        "notable": true
      },
      {
        "name": "Thomas H Tuberville",
        "chamber": "Senate",
        "ticker": "NEE",
        "type": "sale",
        "amount": "$15,001 - $50,000",
        "amount_mid": 32500.5,
        "txn_date": "2026-06-08",
        "disclosure_date": "2026-07-16",
        "notable": true
      },
      {
        "name": "Thomas H Tuberville",
        "chamber": "Senate",
        "ticker": "PFE",
        "type": "sale",
        "amount": "$15,001 - $50,000",
        "amount_mid": 32500.5,
        "txn_date": "2026-06-08",
        "disclosure_date": "2026-07-16",
        "notable": true
      },
      {
        "name": "Thomas H Tuberville",
        "chamber": "Senate",
        "ticker": "PG",
        "type": "sale",
        "amount": "$15,001 - $50,000",
        "amount_mid": 32500.5,
        "txn_date": "2026-06-08",
        "disclosure_date": "2026-07-16",
        "notable": true
      }
    ],
    "chambers": [
      "House",
      "Senate"
    ],
    "note": "Parsed STOCK Act disclosures (House + Senate), House, Senate chamber(s) with data in the last 50d. Disclosures LAG the actual trade by up to ~45 days (reporting window) \u2014 this is a map of what was FILED, not live positioning. Amount ranges are DISCLOSURE BUCKETS; all notional figures are midpoint ESTIMATES, not exact dollars. Descriptive only \u2014 no directional inference."
  },
  "scenarios": {},
  "charts": {
    "NQ_gamma": "NQ_gamma.png",
    "ES_gamma": "ES_gamma.png",
    "YM_gamma": "YM_gamma.png",
    "RTY_gamma": "RTY_gamma.png",
    "GC_gamma": "GC_gamma.png"
  },
  "catalyst_timeline": [
    "09:30 BST \u2014 Continuing Jobless Claims (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Core Retail Sales (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Initial Jobless Claims (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Jobless Claims 4-Week Avg. (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Philadelphia Fed Manufacturing Index (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Philly Fed Business Conditions (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Philly Fed CAPEX Index (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Philly Fed Employment (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Philly Fed New Orders (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Philly Fed Prices Paid (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Retail Control (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Retail Sales (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Retail Sales (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Retail Sales Ex Gas/Autos (blackout 09:25\u201309:35)",
    "11:00 BST \u2014 Business Inventories (blackout 10:55\u201311:05)",
    "11:00 BST \u2014 NAHB Housing Market Index (blackout 10:55\u201311:05)",
    "11:00 BST \u2014 Pending Home Sales (blackout 10:55\u201311:05)",
    "11:00 BST \u2014 Pending Home Sales Index (blackout 10:55\u201311:05)",
    "11:00 BST \u2014 Retail Inventories Ex Auto (blackout 10:55\u201311:05)",
    "11:30 BST \u2014 Natural Gas Storage (blackout 11:25\u201311:35)",
    "12:30 BST \u2014 4-Week Bill Auction (blackout 12:25\u201312:35)",
    "12:30 BST \u2014 8-Week Bill Auction (blackout 12:25\u201312:35)",
    "13:00 BST \u2014 Atlanta Fed GDPNow (blackout 12:55\u201313:05)",
    "13:30 BST \u2014 Fed Logan Speaks (blackout 13:25\u201313:35)",
    "14:25 BST \u2014 Fed Schmid Speaks (blackout 14:20\u201314:30)",
    "17:30 BST \u2014 Fed's Balance Sheet (blackout 17:25\u201317:35)",
    "17:30 BST \u2014 Reserve Balances with Federal Reserve Banks (blackout 17:25\u201317:35)",
    "20:00 BST \u2014 Fed Governor Jefferson Speaks (blackout 19:55\u201320:05)",
    "22:00 BST \u2014 U.S. President Trump Speaks (blackout 21:55\u201322:05)"
  ],
  "material_filings": [
    "META: 1 Form-4 insider filing(s)",
    "MSFT: 1 Form-4 insider filing(s)"
  ],
  "overnight_digest": [
    "Ethereum Staking Generates 98% Of Bitmine\u2019s Quarterly Revenue [Yahoo]",
    "What to Expect From Caterpillar's Q2 2026 Earnings Report [Yahoo]",
    "Lucid stock plunges on bankruptcy report company denies [Yahoo]",
    "One chart reveals why investors are concerned about earnings from Microsoft, Amazon, and other hyperscalers [Yahoo]",
    "UWM Holdings (UWMC) Stock Has Room To Run Due To Cheap Valuation [Yahoo]"
  ],
  "data_quality_notes": [],
  "instruments": []
}