{
  "schema_version": 1,
  "date": "2026-07-28",
  "generated_at": "2026-07-27T21:50:36+00:00",
  "sentiment_read": "The tape's mood is procedural rather than propulsive. Every instrument prints CHOP regime, and the overnight ranges sit inside yesterday's, so the market is essentially re-reading the same page: NQ's ON range 28169.25\u201328763.75 mirrors the prior day's extremes, ES holds ON 7444.75\u20137524.5, and GC's ON 4077.4\u20134119.5 is barely distinguishable from the prior session. Narrative flow is single-threaded and semiconductor-shaped \u2014 an Anthropic chip deal read into AMD, a broker resetting its AMD view off AI Day signals, and Wall Street framing Big Tech capex as constructive for semis. That's the same trade wearing three hats, which is a concentration to note rather than a breadth signal. Counterweights are idiosyncratic, not systemic: Shein flagging tariff pressure alongside a quarterly loss ahead of its Hong Kong listing, and Mobileye softer on a founder transition despite strong results. Macro plumbing reads accommodative \u2014 2s10s positive and NFCI loose \u2014 so financial conditions are not the constraint on the day. Structurally, NQ's PDC 28210.25 sits in the lower third of its prior-day range and GC's PDC 4078.9 likewise in its lower third, while ES's PDC 7453.25 sits mid-range; that asymmetry in where the close settled relative to the range is the cleanest read on how the prior session ended. Positioning ahead of a stacked event calendar is the honest summary: participants have reasons to wait.",
  "the_setup": "The clock does much of the work today. The morning opens with a durable goods cluster at 09:30 BST \u2014 headline, core, ex-defense, and non-defense ex-air all landing together with a 09:25\u201309:35 blackout \u2014 followed by Atlanta Fed GDPNow at 10:55 and the Dallas Fed manufacturing index at 11:30. Supply is heavy and spread through the session: a 2-Year Note and 6-Month Bill auction at 12:30, then a 3-Month Bill and 5-Year Note auction at 14:00. Trump speaks at 15:50, a headline-risk window with no scheduled data attached. Blackout discipline around each is the operative rule.\n\nNQ: ATR 146.71 with EMAs stacked 9:28253.96, 20:28380.21, 50:28545.46, and magnets at 28250, 28000, 28500. Acceptance above 28763.75 puts 28763.75 in question above; rejection at 28763.75 leaves it as resistance, with 28169.25 and 27938.5 below as support. Acceptance below 28169.25 puts 27938.5 in question below. Between 28169.25 and 28763.75, rangebound \u2014 those extremes are the edges to watch.\n\nES: ATR 22.11, EMAs 9:7457.58, 20:7470.15, 50:7477.99 compressed into a narrow band, magnets at 7500, 7250, 7750. Acceptance above 7524.5 puts 7524.5 in question above; rejection at 7524.5 leaves it as resistance, with 7444.75 and 7416.25 below as support. Acceptance below 7444.75 puts 7416.25 in question below. Between 7444.75 and 7524.5, rangebound.\n\nGC: ATR 13.22 with EMAs 9:4082.84, 20:4083.77, 50:4080.92 wound tightly together, magnets at 4000, 4250, 3750. Acceptance above 4119.5 puts 4119.5 in question above; rejection at 4119.5 leaves it as resistance, with 4077.4 and 4067 below as support. Acceptance below 4077.4 puts 4067 in question below. Between 4077.4 and 4119.5, rangebound. With the auction calendar dense and gold's moving averages this compressed, the reaction to each event window matters more than the level map on its own.",
  "technical_map": {
    "NQ": "PDH 28763.75 / PDL 27938.5 / PDC 28210.25; ON range 28169.25\u201328763.75; ATR 146.71, regime CHOP; EMAs 9:28253.96 / 20:28380.21 / 50:28545.46; magnets 28250, 28000, 28500; PDC 28210.25 in lower third of PD range",
    "ES": "PDH 7524.5 / PDL 7416.25 / PDC 7453.25; ON range 7444.75\u20137524.5; ATR 22.11, regime CHOP; EMAs 9:7457.58 / 20:7470.15 / 50:7477.99; magnets 7500, 7250, 7750; PDC 7453.25 in middle third of PD range",
    "GC": "PDH 4119.5 / PDL 4067 / PDC 4078.9; ON range 4077.4\u20134119.5; ATR 13.22, regime CHOP; EMAs 9:4082.84 / 20:4083.77 / 50:4080.92; magnets 4000, 4250, 3750; PDC 4078.9 in lower third of PD range"
  },
  "levels": {
    "NQ": {
      "symbol": "NQ",
      "pdh": 28763.75,
      "pdl": 27938.5,
      "pdc": 28210.25,
      "on_high": 28763.75,
      "on_low": 28169.25,
      "orb_anchors": {},
      "emas": {
        "9": 28253.96,
        "20": 28380.21,
        "50": 28545.46
      },
      "atr": 146.71,
      "regime": "CHOP",
      "magnets": [
        27750.0,
        28000.0,
        28250.0,
        28500.0,
        28750.0,
        29000.0,
        29250.0,
        29500.0,
        29750.0,
        30000.0,
        30250.0
      ]
    },
    "ES": {
      "symbol": "ES",
      "pdh": 7524.5,
      "pdl": 7416.25,
      "pdc": 7453.25,
      "on_high": 7524.5,
      "on_low": 7444.75,
      "orb_anchors": {},
      "emas": {
        "9": 7457.58,
        "20": 7470.15,
        "50": 7477.99
      },
      "atr": 22.11,
      "regime": "CHOP",
      "magnets": [
        7250.0,
        7500.0,
        7750.0
      ]
    },
    "GC": {
      "symbol": "GC",
      "pdh": 4119.5,
      "pdl": 4067.0,
      "pdc": 4078.9,
      "on_high": 4119.5,
      "on_low": 4077.4,
      "orb_anchors": {},
      "emas": {
        "9": 4082.84,
        "20": 4083.77,
        "50": 4080.92
      },
      "atr": 13.22,
      "regime": "CHOP",
      "magnets": [
        3750.0,
        4000.0,
        4250.0
      ]
    }
  },
  "options": {
    "NQ": {
      "symbol": "NQ",
      "proxy_etf": "QQQ",
      "spot": 682.12,
      "expiry": "2026-07-28",
      "dte": 0,
      "expected_move": 7.62,
      "expected_move_pct": 0.011171,
      "expected_move_1w": 22.435,
      "expected_move_1w_pct": 0.03289,
      "atm_strike": 682.0,
      "max_pain": 690.0,
      "gamma_flip": 503.34,
      "call_wall": 690.0,
      "put_wall": 679.0,
      "net_gex": 420106776.77,
      "pcr_oi": 1.5183,
      "pcr_volume": 1.0894,
      "heavy_call_oi": [
        [
          720.0,
          4951.0
        ],
        [
          700.0,
          4923.0
        ],
        [
          705.0,
          3521.0
        ],
        [
          695.0,
          2715.0
        ]
      ],
      "heavy_put_oi": [
        [
          670.0,
          13066.0
        ],
        [
          615.0,
          6923.0
        ],
        [
          495.0,
          5545.0
        ],
        [
          655.0,
          4924.0
        ]
      ],
      "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": 739.09,
      "expiry": "2026-07-28",
      "dte": 0,
      "expected_move": 4.75,
      "expected_move_pct": 0.006427,
      "expected_move_1w": 13.9,
      "expected_move_1w_pct": 0.018807,
      "atm_strike": 739.0,
      "max_pain": 742.0,
      "gamma_flip": 669.7015,
      "call_wall": 740.0,
      "put_wall": 740.0,
      "net_gex": 811139963.1,
      "pcr_oi": 1.5612,
      "pcr_volume": 0.984,
      "heavy_call_oi": [
        [
          750.0,
          9848.0
        ],
        [
          740.0,
          5020.0
        ],
        [
          765.0,
          4599.0
        ],
        [
          745.0,
          3300.0
        ]
      ],
      "heavy_put_oi": [
        [
          720.0,
          45040.0
        ],
        [
          740.0,
          9191.0
        ],
        [
          724.0,
          6147.0
        ],
        [
          728.0,
          5995.0
        ]
      ],
      "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": 521.26,
      "expiry": "2026-07-31",
      "dte": 3,
      "expected_move": 7.7,
      "expected_move_pct": 0.014772,
      "expected_move_1w": 11.25,
      "expected_move_1w_pct": 0.021582,
      "atm_strike": 521.0,
      "max_pain": 520.0,
      "gamma_flip": 445.0192,
      "call_wall": 525.0,
      "put_wall": 518.0,
      "net_gex": 10315480.28,
      "pcr_oi": 0.9026,
      "pcr_volume": 1.262,
      "heavy_call_oi": [
        [
          555.0,
          3705.0
        ],
        [
          550.0,
          3564.0
        ],
        [
          535.0,
          3510.0
        ],
        [
          537.0,
          3451.0
        ]
      ],
      "heavy_put_oi": [
        [
          480.0,
          3777.0
        ],
        [
          485.0,
          3607.0
        ],
        [
          518.0,
          1703.0
        ],
        [
          505.0,
          1065.0
        ]
      ],
      "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": 292.91,
      "expiry": "2026-07-28",
      "dte": 0,
      "expected_move": 2.49,
      "expected_move_pct": 0.008501,
      "expected_move_1w": 7.095,
      "expected_move_1w_pct": 0.024222,
      "atm_strike": 293.0,
      "max_pain": 294.0,
      "gamma_flip": 210.4312,
      "call_wall": 294.0,
      "put_wall": 285.0,
      "net_gex": 109894271.33,
      "pcr_oi": 14.4774,
      "pcr_volume": 1.435,
      "heavy_call_oi": [
        [
          300.0,
          2565.0
        ],
        [
          294.0,
          2282.0
        ],
        [
          303.0,
          1674.0
        ],
        [
          295.0,
          1586.0
        ]
      ],
      "heavy_put_oi": [
        [
          285.0,
          111104.0
        ],
        [
          280.0,
          110840.0
        ],
        [
          288.0,
          7643.0
        ],
        [
          282.0,
          5428.0
        ]
      ],
      "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": 374.63,
      "expiry": "2026-07-29",
      "dte": 1,
      "expected_move": 5.535,
      "expected_move_pct": 0.014775,
      "expected_move_1w": 8.675,
      "expected_move_1w_pct": 0.023156,
      "atm_strike": 375.0,
      "max_pain": 371.0,
      "gamma_flip": 318.8017,
      "call_wall": 375.0,
      "put_wall": 370.0,
      "net_gex": -10222432.46,
      "pcr_oi": 1.0943,
      "pcr_volume": 0.7619,
      "heavy_call_oi": [
        [
          395.0,
          1661.0
        ],
        [
          385.0,
          1318.0
        ],
        [
          400.0,
          807.0
        ],
        [
          376.0,
          546.0
        ]
      ],
      "heavy_put_oi": [
        [
          353.0,
          1716.0
        ],
        [
          361.0,
          1414.0
        ],
        [
          370.0,
          1155.0
        ],
        [
          352.0,
          1109.0
        ]
      ],
      "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": "2026-07-28",
    "trade_count": 1008,
    "purchase_count": 789,
    "sale_count": 215,
    "exchange_count": 4,
    "purchase_notional_est": 10481895.5,
    "sale_notional_est": 24336495.0,
    "net_notional_est": -13854599.5,
    "index_purchase_count": 17,
    "index_sale_count": 11,
    "index_net_notional_est": 573503.0,
    "index_tickers": [
      "NVDA",
      "MSFT",
      "AAPL",
      "AMZN",
      "GOOGL",
      "GOOG",
      "META",
      "TSLA"
    ],
    "top_tickers": [
      [
        "AAPL",
        6,
        318000.0,
        3,
        3
      ],
      [
        "BRK.B",
        6,
        139503.0,
        6,
        0
      ],
      [
        "HUBB",
        6,
        48003.0,
        6,
        0
      ],
      [
        "GOOG",
        5,
        91001.5,
        4,
        1
      ],
      [
        "NVDA",
        5,
        50500.5,
        3,
        2
      ],
      [
        "ACN",
        5,
        1000.0,
        3,
        2
      ],
      [
        "HD",
        4,
        -132001.0,
        1,
        3
      ],
      [
        "BEP",
        4,
        56502.0,
        4,
        0
      ]
    ],
    "notable": [
      {
        "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
      },
      {
        "name": "Sheldon Whitehouse",
        "chamber": "Senate",
        "ticker": "AAPL",
        "type": "sale",
        "amount": "$15,001 - $50,000",
        "amount_mid": 32500.5,
        "txn_date": "2026-06-24",
        "disclosure_date": "2026-07-08",
        "notable": true
      },
      {
        "name": "Sheldon Whitehouse",
        "chamber": "Senate",
        "ticker": "AAPL",
        "type": "sale",
        "amount": "$15,001 - $50,000",
        "amount_mid": 32500.5,
        "txn_date": "2026-06-24",
        "disclosure_date": "2026-07-08",
        "notable": true
      },
      {
        "name": "Sheldon Whitehouse",
        "chamber": "Senate",
        "ticker": "NVDA",
        "type": "sale",
        "amount": "$15,001 - $50,000",
        "amount_mid": 32500.5,
        "txn_date": "2026-06-30",
        "disclosure_date": "2026-07-08",
        "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": {
    "NQ": [
      "Acceptance above ON high 28763.75 puts PDH 28763.75 in question above.",
      "Rejection at 28763.75 leaves it as resistance, with 28169.25 and PDL 27938.5 below as support.",
      "Acceptance below ON low 28169.25 puts PDL 27938.5 in question below.",
      "Between 28169.25 and 28763.75, rangebound \u2014 the ON extremes are the edges to watch."
    ],
    "ES": [
      "Acceptance above ON high 7524.5 puts PDH 7524.5 in question above.",
      "Rejection at 7524.5 leaves it as resistance, with 7444.75 and PDL 7416.25 below as support.",
      "Acceptance below ON low 7444.75 puts PDL 7416.25 in question below.",
      "Between 7444.75 and 7524.5, rangebound \u2014 the ON extremes are the edges to watch."
    ],
    "GC": [
      "Acceptance above ON high 4119.5 puts PDH 4119.5 in question above.",
      "Rejection at 4119.5 leaves it as resistance, with 4077.4 and PDL 4067 below as support.",
      "Acceptance below ON low 4077.4 puts PDL 4067 in question below.",
      "Between 4077.4 and 4119.5, rangebound \u2014 the ON extremes are the edges to watch."
    ]
  },
  "charts": {
    "NQ": "NQ.png",
    "ES": "ES.png",
    "GC": "GC.png",
    "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 Core Durable Goods Orders (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Durable Goods Orders (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Durables Excluding Defense (blackout 09:25\u201309:35)",
    "09:30 BST \u2014 Goods Orders Non Defense Ex Air (blackout 09:25\u201309:35)",
    "10:55 BST \u2014 Atlanta Fed GDPNow (blackout 10:50\u201311:00)",
    "11:30 BST \u2014 Dallas Fed Mfg Business Index (blackout 11:25\u201311:35)",
    "12:30 BST \u2014 2-Year Note Auction (blackout 12:25\u201312:35)",
    "12:30 BST \u2014 6-Month Bill Auction (blackout 12:25\u201312:35)",
    "14:00 BST \u2014 3-Month Bill Auction (blackout 13:55\u201314:05)",
    "14:00 BST \u2014 5-Year Note Auction (blackout 13:55\u201314:05)",
    "15:50 BST \u2014 U.S. President Trump Speaks (blackout 15:45\u201315:55)"
  ],
  "material_filings": [],
  "overnight_digest": [
    "What a Major Anthropic Chip Deal Really Means for AMD Stock [Yahoo]",
    "UBS hurries to reset AMD stock target on key AI Day signals [Yahoo]",
    "'The AI trade is still on': Wall Street sees Big Tech's spending as positive for semiconductor stocks [Yahoo]",
    "Shein flags tariff hits after posting quarterly loss ahead of Hong Kong IPO [Yahoo]",
    "Mobileye Stock Is Down Despite Strong Results as Its Founder Steps Down. View the CEO Switch as a Reset, Not a Red Flag. [Yahoo]"
  ],
  "data_quality_notes": [],
  "instruments": [
    "NQ",
    "ES",
    "GC"
  ]
}