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Intro
Tuesday
SPY staying above high volume trade box. Price is under about $8.5B in trades and slightly under the 455 level. The chart pattern looks like distribution (selling).
QQQ pivot at 384 (no change). The boys snuck in almost $10B in trades above price.
Macro trend selling.
Realtime prints mixed:
- Mega volume on IWM, 196.56 is level to watch, likely selling (bearish). Bonus chart below.
- Very high volume GOOG, watch 130.75
Close prints neutral. High volume on metals last few days.
Wednesday
I start getting worried when the boys sneak in several billion dollars of index trades, and then you see price curl under those trades. My bias was bearish last night, which was confirmed today by watching SPY & QQQ breach levels to the downside.
SPY PRINTS
Prints at the highs overtaking prints at the lows. Bearish.
