TMAD Weekly: GEX on SPY and QQQ is Heating Up to the Upside

$AMD $SPX $QQQ $SPY $QURE

Hi everyone,

Pretty quiet week in the rearview. Markets held their ground near highs without much drama, powered by solid earnings (especially the AI complex), cooling odds of a near-term Fed hike, and an economy that still looks resilient even as it slows a bit.

Wednesday brings the FOMC minutes from the July 28–29 meeting. That’s the one where the committee held rates at 3.50–3.75% but three members dissented in favor of a hike. We’ll be reading closely for any shift in the internal debate—how worried they really were about inflation versus the softer data, and what that implies for September.

Layer on oil and Hormuz developments (still the biggest wild-card for inflation and risk sentiment) plus the wave of consumer earnings (Home Depot, Walmart and the rest). Those will tell us whether the recent soft retail sales print was a one-off or the start of something stickier.

Overall setup remains cautiously constructive / mildly bullish in the near term. Earnings strength, lower rate-hike probabilities, and decent activity are still supporting prices. But the usual late-August into September seasonality is starting to loom, geopolitics hasn’t gone away, and those elevated long-term yields remain a quiet headwind. A flare-up in the Middle East is still the clearest risk that could change the tone quickly.

This is exactly where precision tools matter. Looking at platforms that combine real-time options flow, gamma exposure (GEX) by strike, momentum scoring, and supply/demand zones, certain levels on SPY and QQQ are standing out as potential “ultimate targets” before any seasonal digestion sets in.

If you want to see those levels, the GEX walls, the momentum scores, and the full scanner yourself, check out TMAD.app. It’s built for exactly this: unusual options flow, GEX by expiry and strike, momentum ranking across 950+ names, daily/weekly zones, and an agentic score that surfaces high-probability setups.

Full access comes with a paid Substack subscription.

Head over, lock in access, and put the data to work. The next few weeks are going to reward the people who can see the real positioning. Not just technicals.

Let’s begin!