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Intro
Wednesday
SPY prints at the lows overtaking prints at the highs. Bullish.
QQQ has about the smallest trade I use for a level at the highs. Neutral.
Macro trend strong uptrend.
Realtime prints normal volume megacaps. Normal volume at the highs, no large trades at the lows. Neutral.
Notice the high volume IWM, SPY, TLT, & XLV trades. Those stand out.
Close prints high volume all megacaps. High volume close prints can mean selling the highs or “buying the way up”. The best way to tell is to draw a high volume trade box and watch how price reacts. Do we drop under the box or climb over? Check the SPY chart below.
The 2 days of unusual trades have a caveat where this rally may be short lived. Most of the volume is under $30 million. Lots of small trades. Easy to get in. Easy to get out. Yep, easy to get out.
Thursday
Another meltup day. How did the levels work?
QQQ bounced right off “Slim”.
SPY bounce off 415
SPY PRINTS
Bullish, trades at the lows overtaking trades at the highs. (day 2)
