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Intro

Thursday

I’m going to deviate from the standard summary again tonight. Everything in the data looks bullish.

How do those trades since 9/6 look tonight? Hint: green. I call this practice “building a base.” It looks to me like the darkpools have built a bullish position here. If they took 6 days to build a position, they’ll need several days to sell. I’m expecting some sort of rally from here.

Friday

Friday was a “Quad Witch” day, which always includes a flurry of dealer activity for scanners that looks for large trades. My practice for Quad Witch days excludes any trades between 9:30 and 9:40.

The day quickly turned into a massive selloff. I’ll talk more about historical quad witch days in the summary section.

 

SPY PRINTS

Prints at the highs overtaking prints at the lows. $4B at the lows is a lot though.

Notice that the highs on Thursday were not sold heavily. The early trades on Friday appear to have traded on Friday.