Intro

Thursday

SPY now has a $9B base at 445. Decent volume at the lows.

QQQ now has massive volume at the lows. 367.85 is your best clue for market direction tomorrow.

Macro trend selling.

Realtime prints have high volume semiconductors the last couple of days. Sometimes you will see very large trades on semiconductors, and the boys move them first.

Close prints: megacaps neutral. TLT is massive.

It bugs me that we don’t have large megacap trades at the lows except some MSFT & TSLA. They don’t always buy the lows, sometimes they buy into the uptrend (or create the uptrend).

If QQQ is a short cover, we will see a quick rally that fails. The failure will often produce a lower low. If QQQ is a buy, the market will likely “gap up and go” tomorrow and leave people off the train.

Great info today, and rock solid levels.

Friday

SPY continued to leak down on Friday and has been in the same range for 7 days now.

SPY PRINTS

More trades at 445 (again). Are they building a new base at 445?