over to Steph for our data update. Hi, just a short update regarding the work that we've been doing at data. Our biggest goal for Q3 is to make popcorn chain data fully queryable. What's that mean? Today, historical chain data is an S3 bucket. It's an S3 bucket called fill archive. And they are represented as CSVs and these CSVs are transformed into per cut files which can then be queried with a Athena query engine. However, this usually lags by one to two weeks and the current data lives on timescale DB. So this makes it really hard to query data from for example, like today to three months ago, so I have to sketch it with data that you might need for let's say like up to genesis. Obviously, we want to make it easy to do analysis not just for now to three months ago but from now all the way to genesis. So how are we going to do that? We are going to unify the historical chain data and current data into one data warehouse and we've chosen BigQuery because it has the least overhead when it comes to operations. You can read their proposal and notion if you want more background and context on why we ended up using BigQuery in the end. Progress so far, we now have a BigQuery project with the historical chain data from the S3 bucket. So we just simply ingested those CSVs into BigQuery but that won't be the longer term solution. We simply wanted to do that because we wanted to do data modeling with DBT which David has worked on. So that transformations will be easier. It's version controlled transformations also happen in the same data store that the transformed data lived in. So it will be much easier for us to model and massage the data to however we need and based on feedback as well. So we can iteratively improve the data model. As we learn more about the needs of our users. If you want to test out BigQuery chain data you can do so on Sysense or Grafana if you choose the temp underscore BQ data source. So if you look on the screenshot down here that's how you would choose it as a data source in Grafana and you can do the same for Periscope as well. Another exciting news is we have data infrastructure as code deployed and as well as our Go workflows. What this means is that we can lean into using the containers that have already been created for us by the rest of the PL network to create our data pipelines instead of having to write programming like a language bindings which is what was being done previously where we had to write language bindings in Python for Lilly. Obviously that's more code means more maintenance and for a very small team of two I think we just wanted to try and make our pipeline then work as close as being as possible and as time we check now as thick as possible. So what's next? We will be reprocessing the pipeline chain to address issues and existing CSBs. We'll also be doing more data modeling that's gonna be tomorrow at 11 a.m. with myself and David if you want to join just feel free to ping us on stack. And we will also be setting up existing production pipelines to have BigQuery as a destination. So this is also a nice side effect of moving from relationship to BigQuery is that because BigQuery is also a data warehouse you can use it to store other business relevant data as well. Because this was another set of issues that we had where people would come to me and ask, hey, why can't I do exploratory data analysis with let's say data from GitHub and try and find some correlations with software chain data. That was really difficult before and with BigQuery that with migrating all of the data into BigQuery, we hope to address this issue. We will also be adding some data validation and testing with DBT as well. Yeah, if you're interested in any of the work that we're doing reach out to us and Phil Sentinel or ping us at Tenno Data on Filecoin Stack. If you would like to learn more about how to use BigQuery with Goffano or Periscope just let us know as well and we'll try and get you bootstrap. That's it, thank you.


Good morning, KubeCon. I am excited to talk to you today about how we can build more sustainable software and how we can scale our workloads while reducing our carbon emissions. In today's world, it is paramount to be energy conscious. We've seen countries, businesses, institutions and individuals stepping up and creating their own sustainability goals, becoming more energy efficient, creating KPIs. And also, we want to make sure that software, which is a big part of our lives, takes a center stage in this conversation, which it hasn't so far, even though software runs the world, and it does take a lot of electricity to run. So let's change that, and let's start by talking about the green software principles as defined by the green software foundation. Number one, energy efficiency. Simply put, use the least amount of energy possible. For us, that's all about making sure our code is efficient. Number two, hardware efficiency. Everything that we do or use today needs carbon to be produced and disposed of. Using less devices and less components in our solutions will ensure that that embodied carbon is less. And three, carbon awareness, which is all about the distinction between clean energy and dirty energy. And it's all about knowing, based on that, when to do more or when to do less. The first two are probably fairly well understood and quite direct. So let's deep dive into the third one a little bit more. And before we go too far, let me explain that when I say clean energy, I'm talking about what we regularly describe as renewable energies.  Now that we know the types of energy that are out there, let's look at the concept of carbon intensity. Carbon intensity is the measure of the amount of carbon produced in order for the energy that we use to be created. So it's actually represented by the interesting unit at the top of the bars. That stands for grams of carbon per kilowatt hour. And you'll notice that it varies quite a bit because of the variability of renewable energies. For example, if it's cloudy today or the wind is not blowing, so definitely not the Netherlands, it can actually imply that we need more sources of dirty energy introduced into the mix to compensate for that. And so it will increase our carbon intensity. Okay, so we know what carbon intensity is. What does that mean for Kubernetes and our cloud native workloads? Well, that is where the Kubernetes event driven out the scaler comes in. Cata is a sandbox, is a essentially a incubating project in the CNCF. And we have been creating a carbon aware scaler for Cata. The carbon aware scaler main idea and principle is that we are going to be able to use a concept called demand shaping. And the man shaping is nothing but the idea of scaling your workloads based on the carbon intensity of the infrastructure where they're running. For example, the region of a cloud provider. Today, this is implemented by using a Kubernetes operator that you see on your right with that big green square. And that is going to read that cloud providers or that infrastructure providers data from a config map and use that config maps data, which is going to be point in time as well as historical data to decide what the amount of replicas on the Cata scaled object is going to be. And we'll edit that for you. We also know that not all providers might actually have that data available today. And so we also created another operator that builds on top of the green software foundations carbon aware SDK, which is an open source wrapper for public sources of data so that that config map will be created and available for everyone to use and kick the tires on this new carbon aware scaler. What does that look like? Well, for all of you that are using Cata, it's going to be very familiar. And for all of you that are not, I definitely recommend you take a look at the project. So you're going to be able to define what the carbon emission thresholds are and then what the maximum replicas respectively for each one is going to be. We have a lot of features there that we don't have time to talk about today, but we are currently working on bringing this project into Cata core. We welcome everyone to join us in doing so. We're literally doing that as we speak and continue to develop the carbon aware scaling algorithm for the future and to make sure that your use cases are baked in. And by the way, if you don't know where to start, there's always a friendly AI that can help you get started and can do things like for example, creating your first carbon aware scaler. Really though, if you want to join the sustainability efforts, if you're interested in sustainability, please join us at the CNCF sustainability tag. And if you're interested in Kubernetes, these operators and how to start with sustainability in Kubernetes, check the links at the top of this slide and this QR code. I hope you're stoked as me to have a tremendous impact in how software and IT can shape our sustainability goals. And I look forward to talking to all of you through KubeCon and at our booth. Have a wonderful KubeCon. Thank you.


Good morning and welcome to the second day of our joint ECB and SRB event the test of time banking union a decade on Yesterday we took stock of the banking union drilling down into the next steps for crisis management and the resolution framework And we also had some interesting insights into what's coming next what the future of banking might be Today we shift our focus from the regulators to the banking sector itself Of course the heart of the banking union first We will hear insights from KBC chief executive officer Johan Tice and then turn to a panel on how resilient European banks are As yesterday we invite you to comment and ask questions via the mentimeter tool And you can see the details of how to do that on your screens With that let's get started. Please welcome KBC's Johan Tice and don't forget to send in your questions for him Mr. Tice so good morning Mrs. Koenig, Mr. Andrea ladies and gentlemen first of all, thank you very much for for having me here It's a great honor great pleasure Not every day in occasion to speak to such a large audience. I was not aware that 3,000 people are watching us So I'm pretty stressed But anyway, the financial crisis and its wake the European sovereign that crisis clearly illustrated the major impact of the financials in this services industry on on the economy and The reflex of member states protect national interests and their own banks confronted us with the fact that European market cannot do without an advanced integration of its financial sector No doubt about that the progress that has been made in creating a European banking union since 2012 is Positive and it's resulted in more robust healthy and stable financial sector in Europe Our recent experience with the pandemic has been a case in point and one might say That is due to a massive intervention from public authorities or central banks true But still in this case the commercial banks were part of the solution Whereas in 2008 the commercial banks were part of the problem. Now. We should not take this accomplishment lightly Because implementing a common supervisory and resolution framework for the biggest financial institutions in 19 countries in the eurozone Each with their own structure is which their own culture each with their own operation performance is quite an achievement So congratulations. It was also a highly needed achievement if I may add Because I'm pretty well placed to admit that in the years leading to the financial crisis banks commercial banks have made serious mistakes As I said There's no doubt that the ECB and the SRB have done an excellent and thorough job We cannot however Stay blind to the fact that a lot of work rate remains still to be done to mitigate several existing flaws And we have should we should have ambition to complete the work or to say it with the quote of a book Let's move from good to great So let me share with you some critical reflections and I do apologize in advance But the goal of the banking union is to create a robust and resilient European financial institution by implementing a comprehensive package of risk reduction measures This should safeguard national government's budgets from being jeopardized By a potential failure of too big to fail banks Today both the single supervisory mechanism and the single resolution mechanism Contribute to this goal of creating what is called a level playing field in the stable financial sector in their approach Both ECB and SRB do their utmost best to treat all financial institutions equally starting from the concept of a level playing field now in its Setup, this is a clearly logical step and both the ECB and the SRB are Applying this strictly to avoid. I think any legal mistakes because let's face it Europe is quite complex And I fully understand that position But what's the definition of a level playing field and can that interpretation of level playing field vary upon circumstances next to that and often hear that the downside of constantly using the so-called Benchmark as the reference for all or for some policies of the industry is Putting the bar at the level of the average of the industry I would even say it puts the bar at the level of the weakest banks and in my opinion the approach Pays insufficient attention to as I would call them positive outliers. If if you want to negative outliers, so let me illustrate what I say that and let me use a quite controversial Example Let me refer to the dividend ban for all banks in the early days of the COVID pandemic One could argue this to be justified as A precautionary measure because it has safeguarded the stability of the financial industry during a very stressed period of the economy And I fully agree it has worked out But was it really necessary and to me an easy one now to say with hindsight No, perhaps we could have done differently because let's face it. There were some well capitalized highly liquid banks profitable banks and Perhaps the measure which we have taken has caused in that perspective some hampering of the free market approach And for sure it has definitely not supported any potential consolidation of the financial industry in the European domain Consolidation which is so strongly argued for by the ECB So it's a quid pro quo In my view to strengthen European banking landscape once a certain level of stability has been reached and I repeat once that Level of stability has been reached a common denominator for a sector benchmark approach applied by a supervisor is not Necessarily the right way forward If a business model proves to be superior to another if an institution to be Shows to be better performing Than others this should perhaps be more recognized And the opposite is true as well if it do was it should be recognized as well And let's face it in Putting everything at the level of the benchmark. It might create a significant concentration risk as well Now centralized potential supervision has reshaped and harmonized How do you resume significance? banking institutions are supervised and has further aligned the application of EU's single rule book at the same time centralized Recovering a resolution planning as well as dedicated European Eurozone level resolution fund provide Confidence that a crisis in a systemic bank can be managed efficiently and without cost to taxpayers So notwithstanding the centralized supervision at the European level National regulators and supervisors continue to play an important role Both in sharing and shaping regulation as well in day-to-day supervision as These national authorities have an understandable national tendency to give priority to national interest this implies that on the field The banking union is not yet as much as reality as one could hope for ring fencing is still alive and kicking and You could say it's a bit more subtle than it was before for good reasons now regulation is still Interpreter differently across EU member states Resulting in different practices in day-to-day supervision across the EU Now we as commercial banks notice a clear difference in the interpretation of regulation between different member states Being CEO of a group, which is across Europe under SSM northern as as an SSM countries We clearly make we clearly notice their difference and a certain discrepancy between non SSM member states is Understandable to a certain extent But even within SSM countries We can't help notice that European supervisors turns a blind eye when it comes to aligning the implementation of European rules And we wonder why Although we agree that robust and healthy banks are necessary to create a safe financial system that can absorb shocks and crises We must always keep in mind that We act in a competitive global market and that providing financial services to the European economy should be both convenient and Acceptable prices for our customers because that's the reason why we are here We are not here for us. We are not here for us supervisors. We are not here for us commercial banks Now a strong EU economy Requires healthy and competitive banks and that's what it starts with. This is something that should be considered More regulation more in supervision more by us. I have a Clear message in this respect Please do cut the red tape The enormous complexity and disproportionate amount of information required by the supervisor comes at a significant cost For the banks probably for you as well and therefore the overall economy is hampered as fact as well it is of utmost importance that this money is well spent and To illustrate a little bit Let me give you a couple of examples The first example I would like to refer to time and energy consuming fit them proper process Proceeding denomination for instance of a director to the supervisory board or a member to the executive committee or whatever member and an appointment of a senior general manager in very specific roles This process is lasting months and I'm not speaking one or two months. I'm speaking about a multiple of that number and in the meanwhile Those positions are vacant and we are waiting same can be said about the Yeah approval process of acquisitions and you know next to the very cumbersome and sometimes very painful administrative Process which goes along with with that approval process the throughput time of such an approval process is very long and Very long now I'm the first one and I think all my colleagues will follow to recognize the complexity of such an approval and the importance of doing it Right. I fully agree But does it need to take so much time seriously? You know, we need to be aware that the acquired company the acquired assets the acquired liabilities The employee and the employees and that acquired entity are during during the long approval process Subject to scrutiny by the markets scrutiny by the competition And this leads to financial impact for the acquirer. I know one could say so be it. It's your problem. I agree But it also may lead to destabilization of the acquired Entity and that's no longer our problem. But it is our problem. You include it another case in point KBC is required to deliver 5,880 reports and templates to the authorities supervisory authorities. Let me repeat almost 6,000 reports It was 4,700 three years ago. So it's an increase of 20 percent, which is quite a lot even if the number 4,700 was a lot in itself Now there's enormous workload implies a significant financial cost and to illustrate to create all those reports I mean the system in itself not the generation of every every a single report of every single template KBC has set up a project with a total investment cost of 200 million euro and counting Now interesting to note that in times of crisis We have expired a couple of them in the recent past We did not use a lot of those reports and The same is true for the supervisors. They only use the limited number of those reports And I would say, you know, I could count them on one hand the fingers of one hand perhaps the fingers of two hands But still why do we need to issue all those reports? What concerns me even more that is a potential next step The supervisory authorities may request tomorrow access to the underlying database which Yeah triggers an interesting point of discussion but It allows them for sure to distill out of that data their own reports and Present them or at least the conclusions derived from those reports or those data analysis to us And this would what I would call this kind of Reporting I would call it direct reporting. This would create a very strange reporting strangled Because you know the outcome and interpretation of any kind of report of any kind of template is strongly depending on the knowledge of the underlying businesses and Therefore is not necessarily unique This would often lead to what one could call reconciliation problems with us and as a consequence a lot of extra labor to be done So I'm not necessarily a fan You know anyway, it would generate potentially for both sides an extra cost and what's the added value? Now the fact that different authorities require the same or different information Without proper coordination makes a bank often the object of an international and an institutional ping-pong game ECB and SRB sometimes take opposite stances on the same problem leaving banks in limbo how to deal with the situation Being the CEO of a group of 45,000 employees. I Sometimes wonder if top managers me included knows what's really going on on the lower levels at the lower levels of the organization When people in the big organization well intended Execute tasks within the framework set by top management The outcome and definitely the way how the work is delivered may differ from the original intent I'm still speaking about my own institution But why would it be different at supervisory authorities? Why would it be different in supervisory institutions? Too often it is set by senior officials will intend it that according to the information provided by their own Organization that nothing is wrong or that banks are exaggerating but believe me There is a significant proportion of Inefficiency embedded in the current supervisory system, and I started with saying that you guys are doing a great job Finally the banks organized the way banks organize and operationalize their business models should not lead To unfair regulatory consequences for financial issues and depending on the way how they are set up Even if the underlying risks are exactly the same And in that perspective I also support to call from the head of the UK prudential regulation authority to Simplify the capital requirements framework and to do away with an array of extra capital Cautions such as pillar to add-ons by supervisors capital conservation buffers and counter-cyclical buffers How can we get forward? We all know that piece of the puzzle of the European Banking Union is still missing Edis European deposit insurance scheme for bank deposits in the euro area Currently, we still have different national deposit guarantee schemes We all know and this should be resolved by introducing that overarching European scheme Which then would provide a stronger and more uniform degree of a year insurance insurance cover Ensuring that the level of deposit are confident would not depend on the bank's location as a consequence on the member state Therefore we do regret that Europe Europe groups in recent recent initiative to revamp the project has been put on hold by the member states And we hope nonetheless that further progress will be made in the near future Now although we are in favor of adding this essential third pillar to the banking Union framework Let me raise a couple of intention points First of all, I'm wondering what happens to the contributions that already have been made to national guarantee schemes regardless If the local governments have set them aside in a separate fund of not And this is of course not a message to you, but this is a message to other people as well Will be to build those funds be transferred to European level question mark and we're talking about big amounts Secondly, it is implied solidarity between all the banks of the banking Union That's why it's set up. Although the difference in risk profiles between those financial institutions can still be quite significant Hence, it is my opinion that Solidarity cannot be achieved when there are no equal obligations in terms of capital requirements of risks that bank take Particularly for example, if the amount of bad loans is not cut by us Below a certain threshold or if sound profitability levels triggered by us are not achieved So complimentary to the banking Union, it's paramount that we further step into the integration of Europe the integration of European capital markets Divergence in national regulations and taxation regimes hamper the creation of European capital markets Union and we know that it is a patchwork of of tax systems indeed in Europe, but Strengthening a real banking Union needs to have a more uniform financial or capital markets Union and Today European companies are disproportionately reliant on banking financing in comparison to the markets such as the USA Now the creation of a capital markets Union would therefore provide an opportunity to balance the scale and lead to a healthier Financially financing mix and the definition of healthier leave up to your interpretation As a side note I would like to add that the much hard reference to the US capital markets as the ultimate The ultimate final outcome for the EU Does not take into account the specific setup and features of the different markets Example giving the regulatory context in Europe is completely different than the US capital markets On top of this The reality of financial services evolves quickly and our regulators supervisory framework needs to keep pace new actors in the field of decentralized finance digital currency stable coins crypto I mean they are disrupting the financial services and in order to main To maintain stability supervisor regulators must take these into their scope into their attention Fortunately awareness amongst regulators Supervisors is rising as illustrated by recent statements by the national supervisors amongst which DCB amongst which also fat Bank of England and I can continue but We need to move faster and If he would allow the new marketplaces not new market players, sorry to roam free The risks of a new financial crisis would become much more imminent Building upon this topic. I grant Lee support and I greatly support ECB's effort in creating a digital euro Or what is then called the central bank digital currency? It's my strong belief that the current evolution towards digital money is inevitable and It would be wise to acknowledge this by all of us And I will repeat us means including commercial banks for good understanding I'm not referring to the so-called stable coins, but I'm really referring to Digital money issued by central banks and having the legal status of money In my view central banks should take the lead into developing a digital currency One that central banks control themselves. I Would say one which allows to build an economy upon Discussions on the position of the commercial banks in such a system is of course part of the debate. I agree and Let's say it differently. Let's not drag our feet because let me clear private players Across the globe big tags or not Will not hesitate to take the place of our monetary institutions when they are offered the opportunity Nonetheless, we should remember that significant benefits that the banking union could deliver to European citizens like a chair a Different one than these ones in the room But like a chair the banking union needs each of its legs to be strong and balanced It is if it this should be working as it should Now I have had the opportunity and the privilege to witness the unfolding of the EU banking union project From the front row as a CEO of KBC group since 2012 a lot of achievements are a fact and As I said a lot of achievements can be qualified as good But a lot of challenges are on the road in front of us I realize and I apologized in advance that some of my comments may be highly critical on certain topics but we Commercial banks and supervisors are having the same interest and I'm working together better On the level of equals We will be able to tackle successfully the upcoming challenges to the benefit of the European consumer and Corporate institutions Thank you very much. Ladies and gentlemen Thank you very much. Mr. Tais We have a couple of questions from our online audience, but first I'll see if there's any questions in the room any hands raised I Don't see any so we'll give the preference to our online audience So coming back for your remarks about fit and proper and acquisitions. What would be your proposals to make those processes lighter? I mean first of all I said it's not an easy process a complex process and we have to take into the supervisors have to take into account a Lot of measures Obviously, you have a huge amount of difference in the different regulations of taxes and so on support but for the strict approval process Where I'm referring to Not necessarily anti-competition but the strict approval process of the ultimate ownership and so on support that process can be significantly speeded up Definitely when financial institutions have been on a Recent in the recent timeframe doing exactly same transactions sex the same acquisitions That process can be easily easily copied on the back of what was experienced six months eight months twelve months twenty months before and you know It looks perhaps exaggerated But we are talking about processes which goes nine months twelve months And then that's in those circumstances We need to be aware that the acquired assets, but I said it as well the acquired staff Including the swap the staff of the acquired entity is underscrutin and sometimes the administrative process to burdensome Thank you very much. Any questions in the room Fabia Thanks a lot Just one question You mentioned the integration as something that is needed further integration my question would be Given the regulatory framework are the banks also leveraging as much as they can on the framework To move in that direction. Is there something more that you can also do with the with the current framework? Yeah, I spoke on several occasions on integration. Which specific part are you referring to? More cross-border activities more European So I think indeed. Let me first say something Which it perhaps pretty strictly personal and not necessarily shared by colleagues. I'm not convinced that big is always better For good understanding. So in that perspective Integration consolidation and so on support. Yes, okay, but it needs to fit the purpose So I'm personally more convinced that when it fits the purpose and purpose can be on different occasions strategic I mean the ultimate goal is to serve customers better and to have a stable financial issues so we can guarantee the long-term Purpose which I just said so if you if it makes sense from a strategic perspective It makes sense from a financial perspective creating stability income profitability can be translated and higher capital ratios and higher Returns ultimately to your shareholders and then a good service to your customers if all those boxes are ticked consolidation makes sense and in order to facilitate and I Assume these to be European in general is indeed fostering the same position if those boxes are ticked the system should facilitate Now what's the system the system is the regulatory party supervisory part for sure But also the political part also the tax system and so on support and then within Europe We have quite a lot of differences which hamper that I touched upon one of them That is how to protect the deposit of policy of deposit holders within the European frame. This is fundamentally different So if you go into a consolidation often we are asked financial issues confronted with those difference which hamper integration Thank you very much and maybe a last question It's quite a broad question But you mentioned you have been in the front seat watching the evolution of the banking union since its conception So if you had a magic wand, what would you as a banker wish to see from politics and regulation for your industry? and the consumer In in brief over half an hour now and you have brief I think you know and I'm twisting it from both angles So I'm testing it from the angle of a commercial institution, but also from the angle of a Supervisor let's work better together. I Think we all have the same goal You know, we're on the same ship and the same ship is providing financial services to fulfill customer needs And if we understand good from both sides, what that means from our side I mean, let's face it. We need to be able to generate capital So we create stability so we can get at the to our deposit holders and so on that we will be there even in a moment of crisis If we fully understand that grasp that position and supervises facilitate that in a very effective Also effective in terms of administration so on way of working then I think we're both doing things together So it's not they should but as we should fantastic. Thank you very much. Mr. Heis. Please. Thank you


Hello, everyone. Welcome to Options with Doug, streaming live daily on Bookmap Discord in the Bookmap YouTube channel at 1.30 p.m. Eastern Time. 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. First disclosure, trading futures, equities, and options involves substantial risk of loss and is not suitable for all investors. Pass performance is not necessarily indicative of future results. The focus of my presentation and the focus of the Options-Doug chat channel and Discord 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, and the first is planning, and I use positional analysis. I look at how market makers and traders are positioned in 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 my process is execution, and I look at real-time order flow in Bookmap and real-time market maker hedging flow in SpotGamma Hero to confirm my thesis and for setups for entries and exits. And questions and comments are welcome, and I will be watching the Options-Doug chat channel and Discord and the chat in YouTube for your questions and comments. So please feel free to post on-topic questions and comments, and it will definitely make it more interesting for me and hopefully for everyone else as well. All right, let's get started. And what I want to cover today, my agenda for today is, first of all, go over news items for the week, economic data, as well as key earnings that will be coming up later on in the week. Then I'll go through my positional analysis for both the S&P 500 and the NASDAQ. And then finally, I'll talk about setups. All right, so first of all, news items, economic data for the week, and there are a few higher impact data releases this week, and first of all, tomorrow, and I don't know how high an impact that's going to be, consumer comments, tomorrow at 10 a.m., change my color here. All right, so that is it, tomorrow at 10 a.m., and then on Wednesday the 26th, this may be a little bit higher impact, durable goods waters, 8.30 a.m. Eastern time, and then on Thursday GDP at 8.30 a.m. Eastern time, and then finally on Friday, and this should be a bigger day for data releases. First of all, there's the PCE at 8.30 a.m. Eastern time, and then another consumer sentiment number, Michigan consumer sentiment at 10 a.m. So that wraps up the key or higher impact data releases for the week, and then there are also some key earnings. So on Tuesday, after the market closes, Google and Microsoft both report, and then on Wednesday after the market closes, meta reports, and then on Thursday after the market close, Amazon reports. So a bigger week this week than last for economic data and earnings. All right, let's take a look at some charts now. Go over my positional analysis, and we'll start with the S&P 500. This is the S&P 500 futures, ES futures, and book map. Before I go any further in this chart, I'm going to take a look at a larger time frame, and this is the SPX showing price. This is a thinkorswim 20-day one-hour chart showing SPX price and key spot gamma levels, and these levels are shown in the red horizontal lines. They're provided to spot gamma subscribers for a variety of platforms, and let me just point out a couple of the key levels. First of all, there's the put wall, the SPX put wall at 4,000, and that's also the key gamma strike. So the put wall is the strike with the largest net negative gamma that can be expected to act as support, and it's also the key gamma strike or absolute gamma strike, and that's the strike with the largest absolute gamma. And note that level did consolidate, so the put wall moved up from 3,900 last week, and remember last Friday was April expiration, so as expected a number of the levels did change from Friday to today, and then the key gamma strike last week was at 4,150, and today it has moved down to 4,000, so emphasizing the importance of that 4,000 level. And then the volatility trigger is at 4,115, that is spot gamma's proprietary gamma flip level. Below that level, market makers position is negative gamma, and they have to trade with price to hedge their delta exposure, and that tends to increase volatility. And above that level, like SPX is trading now, market makers position on the gamma curve is positive, and they have to trade against price to hedge their delta exposure. And then finally the call wall is at 4,200. So those are the key daily levels that I track every day, and there are a few other levels on that chart, and we can look at those right now in another thinkorswim chart, and this is the one day one minute chart, again thinkorswim, showing the key levels that are in play for today, as well as price, and as shown on the chart, the SPX is trading in a very narrow range today, above the volatility trigger, and below the 4,150 level that has frequently been resistance. And that was noted as resistance today in the spot gamma AM founders note, 4,150 load noted as resistance. All right, let's take a look at book about now, and we'll see the same levels. Actually, in this range today, the only level, the SPX level that's in range now is the 4,115 volatility trigger. That's the SPX, 4,115 volatility trigger. I've got two columns of notes here. The first is the spot gamma cloud notes, and as you can see showing the key SPX levels, and it looks like spot gamma is using the same ES-SPX difference that I'm using today, which is 22 points, and it may be a little bit less than that. It looked like it was, when I checked a couple of hours ago, it was between 21.5 and 22, and that's the difference between ES and SPX. So what these levels are showing, and this is my cloud notes, showing this key SPX levels converted to an equivalent ES number, and then shown on the chart. And I'm also showing key SPI levels. There's the SPI 4,11 volatility trigger and the SPI 4,12 key gamma strike. And then notice here this 4,13 level was definitely in play today in this morning acting as resistance. So that is SPI 4,13 acted as resistance today. So I'm showing SPI levels, SPX levels, and then finally also big round numbers in ES. So that is, I show the zeros in the 50s. So that is the ES 4,150 level. All right, so that is the, that's the S&P 500. And let's take a look at the NASDAQ now. So the NASDAQ reversed lower around 945. Then did a retest of the, this yellow line is the QQQ 317. And it's also the NQ 13,100 level. So the NASDAQ found resistance at those two levels. Again the NQ 13,100 and the QQQ 317 and chopped around at the kind of these combined levels. This is the NDX 12,936 that's a C4 level, Combo 4 level. And the rank of importance is one being the most important, the highest level of gamma and five being the lowest. And then that is also the QQQ 315 key gamma strike. And that's probably the more important of the two levels there. So price chopped around that level, found resistance at the 317 level. Chopped around the 315 level and finally move lower to the lower edge, the daily expected move. And this is something that I added to my chart over the weekend. I've been doing this for the last week. And this, these levels for the NQ have been gold. They're working great. So notice first of all, with the reversal lower at around 1030, that that level was a target. And then when price finally reached that level, it reversed higher, very close to that actual level. Just amazing, but those levels are working great. And again that is the lower edge of the daily expected move. All right, so I'm again, I have the same type of levels on my NQ chart. First of all, spot gamma levels. Here's the 12 callwall 12975. And note that spot gamma, I believe, is using the same point difference. Let me just check on that. For NDX, NQ, and ES, SPX, and that is, that's not right. Oops, let me see if I can find that. Yeah, they're using a 22 point difference and I calculated an 87 point difference. So these levels shown here for spot gamma are not, not in the right place. So show, for example, here is the, that combo level, the 12936 shown down here and it's actually up here. Right around the QQQ315 level. So I'm showing my, my cloud notes here probably are more accurate. So key NDX levels, there's the 13,000 level and also 2QQ levels. And then finally this lower edge of the daily expected move. Okay, I'll go over setups in a few minutes. So that is showing the, the levels that are in play for today and Luke comments in YouTube. Luke, I appreciate your kind words. Contact me in Discord if you want to have a longer conversation. I'm in Discord. My name is Doug P. So I'll, I'll be able to interact there. All right, so let's talk about shifts in levels now. And as I mentioned, last Friday was the end of the April expiration cycle, expiration on the third Friday of the month. So a lot of levels are being reset now and there were quite a few shifts in levels. First of all for SPX, volatility trigger lower, put wall higher, call wall higher and key gamma strike lower. And we'll look at these levels in just a minute. We'll look at the absolute gamma levels. So shifts higher and lower for the SPX and for spy, the volatility trigger shifted lower. And then the key gamma strike shifted higher and for NDX, all the levels shifted lower. Volatility trigger, put wall, call wall and key gamma strike. And then finally for QQQ, the volatility trigger shifted higher, put wall shifted lower and the call wall shifted higher. So quite a, quite a bit of reshuffling of the absolute gamma levels. So let's take a look at those now. All right, let's start with SPX and I'll go through SPX by NDX and QQQ.  That's the strike with the largest absolute gamma. That's the absolute gamma strike at 4,000 and that's also the put wall, the strike with the largest net negative gamma and that can be expected to act as support. And then the call wall remains at 4,200 or I'm sorry, moved higher from 4,150 last week to 4,200 today and that's the strike with the largest net positive gamma and that can be expected to act as resistance. All right, so that is the SPX, those are the gamma levels that are really defining the range, the near term range for SPX, 4,000 on the downside to 4,200 on the upside, the put wall to the call wall and your spy, zoom in on this. And for spy, the key gamma strike is now at 412, the strike with the largest absolute gamma. Put wall down at 400, that's pretty obvious, the strike with the largest net negative gamma and just to point out what this chart is showing is absolute gamma, market makers position at these strikes and above the zero line, positive gamma or call gamma is shown with the orange bars and below the zero line, negative gamma or put gamma is shown with the blue bars. So positive gamma or call gamma shown with the orange bars above and negative gamma or put gamma shown with the blue bars below. So there's the put wall, the strike with the largest net negative gamma and we saw the key gamma strike at 412 and then here's the call wall, that's pretty obvious. The strike with the largest net positive gamma and that can be expected to act as resistance and spot gamma was calling for support at the 410 level today and resistance at the 415. Those are the levels for spy. And Hector, good morning, ask a question in discord, I'll take a look at that later. It's kind of beyond the webinar so I'll take a look later. All right, let's see if we can take a look at NDX, probably not, need to do a refresh for some reason. So let's go to NDX now and really no need to zoom in here. So this is the 12,975 strike and that is the key gamma strike and the call wall. Put wall is not in the range of this chart. Now let's take a look at QQQ, going to zoom in on this. So for QQQ, 315 is the key gamma strike, 310 is the put wall and the call wall has moved on up to 330 now. So for QQQ, the call wall moved higher, the put wall moved lower, so there's the range for QQQ. 310 support at the put wall and up to 330 resistance at the call wall. All right, let's take a look now. Go back to SPX, I want to point out a couple of other things. So first of all, I showed this on Friday and again remember Friday was April expiration, pointing out the, and this is again from last Friday, pointing out the change from the current expiration, which would be Friday, that's shown by the green line there and this is the gamma model and then the next expiration, which would be today for SPX showing that dropping lower. And what this was showing on Friday was the drop in gamma and positive gamma there, indicating that a lot of that gamma, positive gamma that was supporting the market, was set to expire on Friday and that would lead to higher volatility and wider trading range today and that was expected again based on the expiration of the strikes with a lot of positive gamma. All right, the next thing to take a look at is the Vana model and I do talk about this every day. This is showing two curves. This is for SPX, this first curve, this light gray line, is showing how market makers delta notional changes with changes in price and price alone, that shown here on the vertical axis and price, the strike price is shown here and what this is showing is that as price increases, market makers delta notional increases and they have to sell futures to hedge their delta exposure as price increases and that is typical of a positive gamma environment with market makers trading against price to hedge their delta exposure and again that tends to subdue volatility and then on the other hand, this pink curve is adding in the impact of changes in implied volatility and that's the Vana effect, the change in implied volatility, the change in delta with the change in implied volatility. So what this is showing is on the upside, there's really not much of a Vana tailwind for a move higher. The gray curve and the pink curve are pretty similar and then on the other hand, if price decreases and implied volatility increases, this is showing that market makers delta notional will increase and they'll have to sell futures to hedge their delta exposure and that's pretty typical as the market shifts from positive gamma to negative gamma. Right, that's the Vana model and we'll just look at it for SPX. Then finally, I want to take a look at some data and first of all, I'm going to look at two things here. First, I'm going to look at gamma notional. This is market makers position on the gamma curve for SPX, SPI, NDX and QQQ and note these numbers are all positive indicating market makers position on the gamma curve for all these NDX products is positive and again in a positive gamma environment, this means that traders are short calls, market makers are long calls and they have to sell futures as price increases to hedge their delta exposure and then as price drops, they can buy back their short futures. So they're trading against price to hedge their delta exposure in a positive gamma environment and these numbers did drop from last week. So for example, just for SPX, gamma notional is 5.3 billion and today it is 4.1 billion and on Friday for SPI, gamma notional was 9.2 billion. Today at 7.9 and for QQQ, on Friday it was 4.2 billion and today it was 3.3 billion. And one other thing I want to point out is this spot gamma, gamma NDX and what that is, you can read this pop up and it's a proprietary measurement of the total amount of market gamma and the reason I'm pointing this out is I posted a chart in Discord and I'll show it here of the last 30 days for SPX and what I wanted to illustrate is the impact and how you can use that number positive or negative gamma to anticipate volatility and trading range and unfortunately the number that I've been following for quite some time, the gamma notional, when spot gamma changed the interface on April 1st apparently changed the algorithm for the gamma notional number but they kept that spot gamma, gamma NDX at the same number so I could compare that number before this date March 30th shown by the number 2 here. So what this is showing is that spot gamma, gamma NDX when it's negative that's indicating market makers position is negative gamma and that indicates and they used to have a scatter plot showed that showed that as the spot gamma, gamma NDX the SGI dropped below zero that the daily range would expand and that's shown here in this uptrend labeled number one. So what this is showing is the SPX moved 260 point higher in 13 trading days and that was when the SGI was less than zero market makers position on the gamma curve was negative and remember they're trading with price to hedge their delta exposure and then the SGI flipped to positive on March 30th and notice then after that SPX settles in a trading range in approximately 100 point trading range that at the time that I put this together over the weekend had been SPX had been trading in that more narrow range for the last 17 days. So that is a clear indication of the power of tracking that number positive or negative gamma and I posted this in discord. Okay so again remember that's also this gamma index all of these numbers SGI dropped from last week and still positive for SPX and this is the number that I for the SGI that I track more more most closely I think it's the most meaningful all right let's take a look at some setups so overall I was expecting and this is what spot gamma noted in the AM founders note and they have been noting this for a while noting that again that positive gamma expired last week looking for higher volatility wider training range and they were favoring actually a move down alright so let's take a look at the S&P 500 we'll start with the S&P 500 whoops I'm showing a combined signal whoops wrong tool a combined signal for the S&P 500 showing SPX spy XSP which is not significant and ES so these are showing options trades and SPX spy and ES and showing the hedging impact of those options trades in real time so this is hero hedging impact of real-time options and this white line is showing price and the purple line is the hero signal and we'll take a closer look at this in a minute and normally this is the signal that I look at for any trading the S&P 500 and let's just take a look at the components so we'll start with SPX and then we'll come back to this signal but I just want to take a look at the individual signals and notice overall the this notional value is about minus 500 million alright so we'll start with SPX and notice this number is positive at 416 417 million and let's take a look at a spy minus 561 million and then ES minus 362 million so ES has been overall just judging by the direction and the the line here the most negative so let's go back to the combined signal zoom in on this and we'll talk about some setups this morning so first of all there was a couple of divergence setups it took a while for this to play out notice that hero drop drops more price it did drop a little bit then made a similar high and that's at the spy I believe that was the spy 413 level and then hero diverges again setting up a short so let's go take a look at book map now go back to SP 500 and yes that was at the 413 level so traders were taking negative delta positions as price approached a level it's the way to approach this once you see the divergence set up in hero is to watch book map here for a a potential level for a reversal and there it was not a not a really significant level but the spy 413 level acted as resistance again and you can see the the shift in order flow here in the S futures trend break and notice the pink volume dots note the clear shift from green moving up to the 413 level to now pink as price breaks this trend line at the 413 level again traders were taking negative delta positions and watching the order flow here these lines in the sub chart were showing that first of all the dark blue to pink line that's cumulative volume delta and also the yellow line that's cell stop orders fueling the move lower right let me check for questions and Hector I ask when you have a consolidation through a lot of days how do you know if it is accumulation or distribution and you wait for a breakout of higher low or lower low and this this is not something that I look at I'm day trading so I'm looking at new day every day and I talk I'm talking about what I look at every day I'm looking at levels and how traders and market makers positioned how those levels change from day to day and then looking at order flow and hedging flows so I'm not looking at consolidation through a number of days well that you know I did look at that SPX chart but that was just in showing the impact of a positive gamma environment so I'm anticipating that some of that positive gamma was released on Friday leading to a you know potentially higher volatility and larger trading ranges for the day so that's how I look at that alright so there's the SPX the short setup let's go back and take a look at hero now so we saw again the divergent setups took a while to play out about an hour so the the short was at spy 413 at 1030 trend break shift in order flow let's go back and take a look at hero so here's the current signal it looks like traders are taking negative delta positions again where they were taking negative delta positions and then they decided to join the party now negative delta again it looks like that you know of course the best move so far was this morning the two divergent setups and the one that finally paid at 1030 right let's take a look at Nasdaq now and for Nasdaq I'll look at QQQ and very nice divergent setups here this morning and QQQ so note the falling hero line and then price reverses lower and this started earlier in the S&P 500 and then there was a move higher reversal higher and hero makes a lower high and price makes a lower high and there was the the best setup just right around 1030 a little bit before just a little bit before the S&P 500 move lower right let's go take a look at we'll take a look at first of all NQ so as I mentioned before here's that the first let's zoom in on this here's the morning session the first reversal lower not really at any discernible level there there may be something as traders were taking negative delta positions then a retest of the 13100 level again as traders were taking negative delta positions and there's the best setup the reversal right before 1030 down to the lower edge the daily expected move and order flow was was bearish no cumulative volume delta pink here indicating it's negative so shifts from dark blue positive to negative and then also the falling yellow line indicates that sell stop orders were helping to fuel the move lower so there's again as the the short setup reversal at the QQQ 317 level the NQ 13100 level and then the NDAX 13000 level as water flow shifts bearish with all the pink dots coming in market sell orders right so that's the setup and the NASDAQ and then let's take a look now at how traders options traders were reacting at this touch of the lower edge of the expected move for the day and let's go back let's check the time so that was right around 12 noon Eastern time let's go back and take a look at hero now and note that as the NASDAQ was heading down toward that level options traders were taking positive delta positions anticipating a reversal at at that level that didn't last long but so far prices continued to move higher as water flow shifts bullish knows note the rising cumulative volume delta CVD and also iceberg orders that helped to initiate the move higher these are shown by this light blue line larger traders buying buying the weakness with iceberg orders they used to hide their size alright so the NASDAQ continues higher let's go back and take a look at at hero and so far this afternoon traders are after this first move higher starting around 1240 taking negative delta positions let's just zoom in on this afternoon session yeah still negative delta let's see what they're doing so net today and this is pretty typical of an index they are traders are buying calls that's a positive number shown by the orange line and they're also buying puts shown by that negative number there and net net the total is negative well let's take a look at some stocks and the first one I want to take a look at is Amazon and this was a good short setup this morning not quite a divergence here but a clear confirmation of a short call wall above at 110 price makes it up to about 109 and then options traders started taking neg negative delta positions and price moves lower let's go take a look at book mount go to an Amazon and there's the reversal at the 109 level I'm going to zoom in on this there's the reversal call wall up up up above about 310 note the shift in order flow green dots to pink dots market buy orders and then aggressive sellers sellers start to come in at 109 shown by the pink dots pink volume dots there then a break below feewap and price moves lower and the primary target was the 105 liquidity level so nice four-point move lower lower and Amazon with a clear signal from hero from options traders and let's take a look at meta go back and take a look at hero and assume in on the on the morning session and I thought this was setting up in the morning a divergence short not not as clear as the S&P 500 and NASDAQ hero falling price falls and one other thing to point out here is this actually a confirmation of a long setup here in the afternoon let's go back and take a look at book map now and note the reversal at the this level should not be there that was from last week I I need to clean that up the reversal higher at the 211 level let's go back I want to take a look at hero again see if so there are no no key gamma levels no gamma levels in play for meta just that 211 level all right let's I want to take a look at one other thing earlier today actually yesterday marty mcspy I doesn't look like he's in here maybe he's in youtube I asked please tell me why you prefer to trade shares instead of options so I set up an example in thinkorswim and this is a simulated trade in meta so I was looking at meta at that around that lower lower strike lower point of the day and again just a simulated trade took a long call this is a call that expires on on friday and that's for stocks single stocks that if you want that's the shortest term available the friday expiration and one thing that I want to point out now the implied volatility is quite high that's because meta reports earnings this week that's noted here implied volatility 107.40 quite high so you're paying a lot for the call and notice it's 925 dollars so from my point of entry so actually let me show them so there's the breakeven at expiration and that is the 212 strike plus 925 comes out to 221.75 that's shown here so by the end of the week to make any money at all meta has to trade above 221.75 what this is showing for those of you who may not be familiar with the risk graph this is showing a profit and loss line for today and then this is showing profit loss at expiration on friday at the end of the day on friday and this is showing as as time passes this purple line will drop down to the blue line so you're paying a pretty stiff penalty for owning this call and that penalty is right now theta is 100 minus 120 almost 121 dollars a day so just to own this call you're paying losing 121 dollars a day so that's why I don't don't like to buy options and especially calls and especially high price calls so marty again it looks like you may not be in here i'll post this in and discord later and urge you to watch this recording all right so right now it's up 85 dollars uh i guess the only advantage of this is you have a built-in stop loss so but you're paying quite a penalty and this theta number will increase every day so you'll pay a higher and higher penalty as price moves on and the purple line drops down to the blue line so that's why i don't like to trade buy options i i prefer to be a seller of options all right the next setup let's take a look at nvidia good short setup in this uh this morning let's take a look at hero go to nvidia and there's a as usual pretty strong confirmation between hedging flow and price action shown here for nvidia let's see what traders are doing so net it is still negative so that means they're buying puts and selling calls i'm looking at this notional value this number purple number over on the right right side of the screen the vertical axis let's take a look at order flow and as traders were taking negative delta positions nvidia made a series of lower highs and 1030 move below vwap and a couple of actually three higher liquidity targets below there at 270 268 and then finally at 267 around noon noon eastern time one other stocks that that was about when the qqq the nq reached that lower edge the expected move for the day and started to move higher let's go back to hero and see if there were any yama levels in play and no the the hedge wall down below it at 265 and that's not in range today and note the shift higher again around noon as traders started taking positive delta positions all right let's take a look at tesla and tesla is another stock with a very strong correlation between hedging flow and price action and note that tesla reverses lower at the 165 hedge wall right here and traders start taking negative delta positions and price moves lower let's go take a look at book mount and again note the sharp drop lower at the 165 hedge wall and no and i'm but not really marking those uh key gamma levels on stocks anymore i'm just trying to save some time in the morning those levels are shown on the hero charts and that's enough it's just a little bit too much work to show these key gamma levels that change from day to day on my stock charts so i'm just marking the gamma levels on nq and es and that's it so here's the short setup in tesla today reversal at the 165 hedge wall lower high break below vwap with a 160 high liquidity target there's tesla let's do a quick check of the indices again so it looks like now that the s of p500 is starting to stall a bit at the 412 key gamma strike the spy 412 key gamma strike let's take a look at nasdaq also consolidating a bit just below the qqq 316 level and the nq 13 0 50 level all right let me take a final look at questions uh hector again i hope i answered your question so i'm when i was showing this this chart here and this may be what you're thinking about or referencing in this consolidation i'm not really thinking about accumulation or distribution and a breakout higher or lower what i'm pointing out in this chart is the change in market structure based on market makers position on the gamma curve and the way i use this in a negative gamma environment shown in the range of this up arrow on the left the one number one i'm looking for a higher trading range every day in a negative gamma environment in higher volatility higher trading range and as market makers position changes from negative gamma to positive gamma shown with this number two here here i'm looking for more range trading range type days that's how i'm using this lower volatility and a more narrow trading range up and down notice there were more more trend days in this range shown by number one and more range days trading up and down that's how i approach this looking at the change the difference in negative gamma and positive gamma and how that might have an impact on trading during the day so i'm not looking at this as any long-term uh long-term impact other than what what i might expect during the trading day okay all right that's all i have for today i want to thank you for watching thanks for your question to comments and i will see you tomorrow thanks again bye


Team keep it clean. What's going on? It's engraving here with another video and in this video real good news Great news actually And we always talk about how timing is everything. It it just never fails. So of course Gus Edwards I remember somebody asked me a question a couple of weeks ago. They were like angry who who do you think is the better running back between Gus Edwards and JK Dobbins and initially I was like That's a tough question. It was a really tough question because when they put me on the spot right there in the nails I don't know but after getting a refresher course on who Gus Edwards is and what he does I had to go with him. I had to go with Gus Edwards and again That's not a shot at JK Dobbins at all It's really not because both of them bring their own skill set both of them are good running backs But I just think that Gus Edwards is the best running back on this team That's why upon his return because he was he was missed badly Because in a show that he was missed badly over the past two. I mean excuse me over the past year and a half Because last year they definitely missed them especially in this year with all the the short yardage Convergence the fourth downs the failed fourth down attempts fourth and one fourth inches fourth and two a lot of times You can just hand it off to Gus and get those yards, but he ain't got Gus And they don't want to use pericard in that form of fashion. They want to use pericard for everything else They were using for everything else except being a short yardage back blows my mind, but anyway In the Bucks game Gus Edwards was running hard Gus Edwards brought life to the offense I remember especially in the third quarter when the Ravens were looking down and out They handed the ball they handed the ball to Gus Edwards and he just broke It was the their first drive at a third quarter I think they they were backed up on like the six-yard line or something like that and I was thinking Oh, well, hopefully we get like the 95 yard 94 yard touchdown drive Well, we'll see especially had offense had been they handed it off to Gus life energy right away But then and he was running hard that game He's running hard the past couple of games and running good the past couple of games And and I was so surprised with him being back That they were giving him just so many carries right away Sighted the camera keep fogging up because it's a little warm outside, but anyway, he looked good in his return That's why when he went down in that Bucks game a lot of us was scared a lot of us were like, oh boy Come on. Let's say it ain't so man And when he went down he was sort of holding his hamstring And I was like I was hoping that what it was a hamstring and then he stayed down for a little bit I was like, I don't know and then he got up and he was still holding the hamstring, but he was walking by himself I was like, oh, okay. He's straight. He'll be good So I ain't think it was anything serious, but getting this good news this official good news from Ian rapper poor It's a beautiful thing. I'm not that Gus is injured obviously But that the fact that it's not a significant or serious injury And that the timing of it is big too because let's just read it straight from him. He said Good news for Raven's running back Gus Edwards the hamstring injury he suffered on Thursday is described as a minor or as minor He wrote he meant to write as minor, but he wrote as a minor But I'm sure he meant as a minor injury or as minor whatever y'all get it So I said and if he misses time, it's likely just a week or so Now I know that just that likely just a week or so especially with a hamstring injury It can linger it can be a week, but he said if he even misses time So it's possible that he may not even miss time and this is what I was talking about earlier with timing because the They got a game on the next game is next Monday So they they had that game on Thursday night. So they have to rest they have Friday Saturday Sunday Then Monday Tuesday Wednesday Thursday Friday Saturday Sunday Then another Monday. So they got like what 10 11 days arrest before the next game So Best case scenario Gus Edwards is ready to go against the Saints come Monday night football in New Orleans. That should be a fun one, too Worst case and hate by the way things are going Ravens might not even play it be playing against Alvin Kamara. So we'll see what happens. But anyway So worst case, I mean, excuse me best case scenario. He might not be able to go against New Orleans Worst case scenario if he does if he does have to miss a little worst case scenario will be missing like a couple of weeks, but another The best worst case scenario, I guess would be him missing one game and it's like, okay If he misses the game against New Orleans Not that you can sleep on any opponents anything like that. But if he misses the game against New Orleans then Ravens on a bye week So he would have even more time to because we have these 11 days these 10 11 days to get right and Then on top of that he would have a whole nother week to get right So, I mean, hey, if that's how it's got to be, okay, cool that no problem with me I mean, we were much rather have Gus Edwards even against New Orleans I know they looking like a lesser team right now, but sorry, I know these Ravens and the King sleep on nobody So with that being said, we'll see we'll see what happens with them The the Ravens they do have their Fair share of backs currently on the roster They have Obviously Kenny and Drake who's been looking better and better as the season has gone along They have Justice Hill who when he's been given his opportunity He's been killing it and I know y'all heard me say this before I got to say it again I did not think that he was gonna be on the roster this year I thought that Justice Hill was gonna be at on the practice squad at the most I did not think he was gonna be on the active roster now I'm sure JK Dobbins that may have his injury and whatnot them not being ready to really unleash JK Dobbins from jump That probably has something to do with it and with Tyler Beatty They drafted him but they cut him and put him on the practice squad So I'm sure that had a lot to do with it But and then Justice Hill just showing showing himself not just the other guys But what just not what the other guys haven't done but also what Justice Hill did do that had a lot to do with him Making the roster so I don't want to just put it like oh, yeah Justice Hill only made it because those guys didn't look good But no Justice Hill made it because he looked good in training camp in practice and all that so he's done his thing I'm happy for him. I'm happy for him. So it's been Working out for him for sure and we hope it continues to um So let's see how that goes. They also got uh, Mike Davis. So I Guess Mike Davis if Gus Edwards ends up and this is all only if Gus Edwards misses the game If he ends up missing the game that Mike Davis would be active obviously um And it was it's so crazy because I remember going into the season like We were all wondering who the Ravens gonna keep at running back who they gonna have at running back because Before we knew like really knew when Gus or JK were gonna be back like officially It was like all right Ravens got JK. They got Gus. They got Justice. They got Beatty They got Mike Davis. Then they messed around and signed Key and Drake too. It was like, whoa, like What are they doing? Why they they got like five running backs on the team? They ain't no way to keeping all of them And the way unfortunately the way that it worked out with the injuries and all that It made them keep all of them. But again the timing again timing is everything whether it's good or bad It's just everything But the timing of them keeping all of them some of them were out some of them were in and y'all y'all know the rest of the story But with Mike Davis, um He is uh If Gus is out you figure that he's gonna get a chance Now, you know what somebody was messing with me, uh, oh my god blue my god blue on instagram He said what he said and this was actually a question from subscriber two from my god gold morano So My god gold morano put any questions themselves and my god blue. He talked about it to me on instagram He's like man, what if Ravens mess around and trade for a running bag? That's that's the big splash move that they make come to deadline. I told I say don't play with me, man Don't don't don't play with me. But then I was like at the same time These ravens boy they I could see them doing it I would hope that they wouldn't but I could see them doing something like that But I mean, we'll see what they do. Anyway, appreciate y'all Uh, I love y'all. Thank you all for everything. Thank you for supporting like crazy And just like hopefully Gus Edwards won't have to be We out


narcissistic fathers if you are watching my videos it's likely you had a narcissistic parent and that parent may have been your father the narcissistic father enforces strict obedience to his authority at the expense of your personal freedom which may leave you feeling trapped in an undesirable situation because they also lack warmth they're very unfriendly they're invalidating they're extremely offensive and insulting they don't give you the proper care or attention which affects your self-worth and your self-esteem it makes you feel like you're not good enough which sets you up to meet a narcissistic partner at least once in your life you may feel this need to win over the narcissistic father you may wish to persuade them to accept and support you when this is something that shouldn't need to be earned but it sets you up to develop this mentality of feeling that you need to do a complicated and difficult series of things in order to make them happy which leaves you feeling like you're never good enough when your father is supposed to be your role model your father is supposed to be an example to be imitated you are meant to emulate their behavior example and success but most of the time the narcissistic father doesn't even notice you their regard for you is dependent on whether you do what they tell you to do if you do exactly what they want you to do they will be there for you but if you choose to be your own person they can be very invalidating they're also very uncomfortable with the emotions of their children they will shame you for having emotions which can also cause their children to become narcissists because narcissism is characterized by shame narcissists are shame-based people but if you are watching my videos it's likely that you are not a narcissist you may feel uncomfortable with your reactions feelings sensations and memories you may have difficulty with relationships you may find yourself always seeking other people's approval and you may take excessive measures in attempting to correct or make amends for an error weakness or problem you may try to make lots of money so that you can prove the narcissistic father wrong if you have a narcissistic father you may constantly find that you are experiencing shame because you understand that things in your family were not okay and you may often blame yourself you may feel like you don't want anyone to know about your family but there's no reason for you to feel humiliated or distressed for it because you are not the creator of your family system instead you need to practice radical acceptance stop fighting reality let go of any bitterness that may be keeping you trapped in a cycle of suffering and just recognize that you know who they are a narcissistic father can have very significant effects on the child's life they can cause significant psychological harm to you which may leave you feeling like you don't have any respect for him because narcissistic fathers have difficulty controlling their tempers they could not admit their own flaws and that lack of accountability is then what destroys everything in their lives which then alienates you it isolates you and leaves you feeling estranged healthy fathers want their children to be better than them they want you to be more successful than them in everything it is a natural desire but for a narcissistic father that is the last thing they want to see when they feel like you are becoming better than them they get very envious they get very bitter and resentful and then they just want to shut you down when a healthy father would be proud of that they would encourage it because a healthy father would be happy for their child which would then cause that child to always respect their father the greatest quality that a healthy father could possess is the ability to set aside their emotions and then use their logic reason knowledge and experience to dictate their actions instead of letting their emotions dictate their actions a narcissistic father's actions will always be dictated by their emotions they have difficulty controlling that anger envy and resentment they will only control it when there are other people around because their image is very important to them but when you're at home they can be very decent indecent because they're very dishonest they hide who they really are narcissistic fathers do not act like men and that is why you may not respect your father because they didn't give their best they allowed their impulses to run their life which is why you may even hate your father but this is something you need to overcome you may not love what they do but that doesn't mean that you should hate them the opposite of love is not hate the opposite of love is indifference it is to have a lack of interest concern and sympathy for them which is why hate should eventually become indifference because although they may have disappointed you although they didn't live up to your expectations although they didn't use the qualities they had to be someone you admired and respected if you hate them it will only hurt you in the end especially if you are the scapegoat child because the narcissistic father doesn't care if their scapegoat child hates them they may even want you to hate them so instead of hating the narcissistic father be indifferent the reason why people hate is because deep down they secretly love and admire something about that person there is actually a very fine line between love and hate which is why the opposite of love is indifference the opposite of love is to let go of everything you expected them to be and to not let them affect your life thank you for watching I hope this video resonate with you please like comment share and subscribe if you would like to donate my PayPal link is in the video description coaching inquiries you can email me at coach at an art survivor at a UK thank you for watching and I'll talk to you soon


Hi, my name is Leon Roe currency trader in trading culture trading 180 comm and in this video We're going to really explain why this demand zone Didn't work right here. I mean it did here many traders who trade a supply and demand Just from a technical perspective, you know may have made a bit of money But on the pullback and the fresher area of demand right at the bottom. Why didn't this work, right? A lot of traders will Not really understand that technical traders. Anyway, we'll understand that fundamental analysis is really the reason why Supply and demand or any technical strategy will work You really need to understand that the fundamentals behind why price is moving the way it is and there's no Technical level whether it's supply whether it's demand whether it's support whether it's resistance Whatever indicator you can think of is not going to work if it's going against fundamentals or risk sentiment analysis and so The reason why is because of blockbuster jobs reports to push fed to hike and key rates hike Hi So we had on the 3rd of February non-farm payrolls come out and the data was fantastic Right, so it's you mean that was the 3rd of February the data was fantastic But what does that actually, you know mean really what it means is that the jobs means that the economy is doing Okay, or doing well as the the numbers were fantastic and the impact of that means that the Federal Reserve Can or gives license to the Federal Reserve to continue hiking rates and hiking rates typically appreciates a currency now currencies are trading and traded in pairs and so It's not a 100% guarantee at the moment It depends on who is hiking more and who's hiking bigger than another Bank right just because one bank is hiking if it's you know against another bank that is hiking even more and for longer then the Central bank that is hiking for more and longer will be in the will try to appreciate their currency and And that currency should appreciate against the one that is not hiking as much and is maybe not hiking for as long So with that being said it gave license to the Fed To put a higher rate peak on the table, which means that they are Can hike the market is expecting them to hike an extra 25 basis points Which then means that they the currency should appreciate which is basically what is happening right now now? How much it will appreciate is another story, but that's beyond the scope of this video What I'm just talking about is why this level? Yeah, why this level of demand did not work and why levels of supply and demand or certain levels of supply and demand Don't work and why some do and it's really imperative To your technical trading that you understand what is going on behind them beyond What price is telling you right you can see with your eyes everyone can see what's going on in the price chart But it's what is going on beyond what you don't see that is really moving price Especially over the medium to long-term and even in the short term price is really driven by liquidity market making and the such anyways, I hope you found that useful Take care and to all those Fundamental naysayers I'm gonna keep making these videos to prove to you that fundamental analysis is what is driving the market Anyone who says that technicals, you know all you need is technicals You know, I believe that they are They're wrong and I'm gonna prove it anyways take care until the next video Tell me what you think if you do think that technicals You know all the reason why you know, I'd love to hear your case But you know, I've got the proof as to why fundamentals and Understanding and having a deep understanding of fundamentals is really the reason why I have a levels will work or they won't work Anyways, take care. Have a great trading week. I'd love to hear your comments and feedback and All the best to the next video