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Thursday

I’m going to skip the usual summary. Everything looks bearish. Duh

So how does darkpool data help?

Great question. First thing, I want to see volume on SPY & QQQ at the lows. Most of the time, they buy the main indexes. Sometimes they buy semiconductors. Right now, we are seeing IWM and megacap trades. I believe IWM is in a spot where the investment banks want to accumulate. Does that mean IWM goes up tomorrow? No. The darkpools like to pick a zone to buy, wait, and then pick a zone to sell. What about the megacaps? Price is a long way away from the large trades. Before getting bullish, you want price over that large trade.

A good example would be TSLA 225.82, trade size about $500M (big trade for TSLA these days). Right now, price is 3.86% under that level. If the investment banks are buying TSLA into the lows, you want to see price overtake 225.82, retest that level, and then keep going.

Good luck, and keep watching levels. Remember, a chart looks the most bearish right before it gets bullish.

 

Friday

Friday was an opex day, so my writeup will exclude any trades from 9:30 – 9:40. Those trades are typically dealer activity.

Friday was also another downtrend day and landed just above the 420 SPY level and under the 200 day moving average.

SPY PRINTS

Very large trade at the highs and medium’ish volume at the lows. Bearish.

We are a long way from that trade. Bulls will want to overtake that strong level before getting agressive.