SPX: New All-Time High — With a Little Help from GEXS&P 500 IndexTVC:SPXGexviewwDid you see it coming? If you feel nervous during every trading session—constantly second-guessing your decisions—you’re not alone. But instead of wasting time and money, consider focusing on what truly matters: Gamma Exposure. Take a look at the chart. No annotations, no moving averages, no trend lines—just Historical Gamma Exposure levels. It’s as if we’ve laid all the cards on the table. The first thing to notice is the classic V-shaped rebound. But why did it happen? Honestly, we don’t know—and more importantly, we don’t need to. What matters is what happened, not why. And what happened was a complete shift in Gamma Exposure following the end of Q1 2026. Throughout most of February and March, the SPX traded almost entirely within a negative gamma environment (red bars). However, starting April 1, both 0DTE(thin lines) and All Expirations (thick lines) GEX levels flipped from red to green. In other words, the SPX transitioned from a negative to a positive gamma regime. Looking more closely, you’ll notice that the red bars gradually shrink—and in some cases disappear entirely—while new green levels emerge. From a Position Analysis perspective, this signals that market makers have shifted into a positive gamma stance. To conclude, I’ll share one final SPX chart focused solely on 0DTE Gamma Exposure levels. The image speaks for itself. To me, it reflects Jesse Livermore’s “path of least resistance”—redefined for today’s digital, options-driven market.