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Intro

Wednesday

I’m going to change the writeup again tonight. The indexes have been stuck in a range for 6 trading days.

Zooming out, all the large index trades in the last 6 days are starting to turn a little green. Price is less than 1% away from the trade, so technically the trades are borderline. Large SPY trades are roughly $20B SPY and $8B QQQ since 9/6.

The large megacap trades look similar. The indexes really need AAPL to turn around to get moving. Likely means AAPL over 175.10 before getting too bullish.

Same guidance as last night. I don’t have a good way to glean the direction of any of these trades. When this happens, I sit back and wait for the levels to resolve one way or another.

Thursday

On day 7, something finally happened. SPY gained .86%, QQQ .82%, IWM 1.41%.

Someone I know may have bought IWM at the 200 day moving average (again). Did anyone else think it was obvious? Remember, the boys at mission control execute the same plays over and over again. Look at the pattern. Base for 4 days, stop run to flush the longs, then we get today’s gap and go. Very similar to last time.

Will it hold? Let’s look at the data to see if the darkpools bought the lows. Tonight in the paid section, I’ll talk about “building a base” and targets if we rally from here.

SPY PRINTS

4.5B at the lows. Hmmm.