Market analysts are closely monitoring the gamma levels in the S&P 500 index ($SPX) as significant changes are anticipated. A notable gamma peak has been identified, with a call gamma to put gamma ratio of 0.91, indicating a slight bias towards calls. The gamma flip point is reported at 5946. Analysts suggest that a considerable amount of gamma will roll off in the upcoming expiration, particularly associated with the 6000 strike. Despite this, it is expected that dealers will maintain a long gamma position as they head into the following week. Upcoming newsletters and market minutes will further discuss these gamma levels and their implications for market movements.