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Evaluating the Market’s Next Move as Uncertainty Grows

The Ivory Hill RiskSIGNAL™ remains green, confirming that pullbacks are buying opportunities. Our short-term signal is also green while our mid-term volatility signal has turned red—often an early warning of larger moves ahead. There are a lot of reasons to be bullish in the short term. Market makers are positioned long gamma, suggesting a period of lower volatility. In this positive gamma environment, option dealers adjust their hedges by selling futures as prices increase a