SPX vs GEX Cycles
- Dealers' gamma exposure (GEX) data from SqueezeMetrics has similar (almost the same) cycles as SPX.
- Positive GEX means dealers are long gamma and should sell rallies and buy dips. Negative means they are short gamma and should trade with the move.
- However, the GEX cycle composite leads SPX cycle composite by about 1-3 weeks
- Not sure how to use this cycle lead time, but getting the same cycles from different data is a good confirmation of SPX cycles and turning points
