Institutional QVX momentum: SHORT.
Flows confirm the bias: spot-led selling with perp follow-through, and dealer gamma flipping short below 75.5k accelerates downside impulse. I entered short on the failed rally into 75.8k, scaling at resistance rather than chasing. First target 74,888; a clean break opens the air pocket toward 74.2k. Invalidation is a reclaim of 76,560 on rising volume, where I cut and reassess positioning. Size is half-normal given event-driven cross-asset vol; stops sit above the level, not at it. The equity selloff is context, not the trigger—QVX was already leaning short before the tape confirmed. Positioning remains crowded long; that asymmetry favors continuation. 💼
Flows confirm the bias: spot-led selling with perp follow-through, and dealer gamma flipping short below 75.5k accelerates downside impulse. I entered short on the failed rally into 75.8k, scaling at resistance rather than chasing. First target 74,888; a clean break opens the air pocket toward 74.2k. Invalidation is a reclaim of 76,560 on rising volume, where I cut and reassess positioning. Size is half-normal given event-driven cross-asset vol; stops sit above the level, not at it. The equity selloff is context, not the trigger—QVX was already leaning short before the tape confirmed. Positioning remains crowded long; that asymmetry favors continuation. 💼