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Intro

Wednesday

SPY neutral. Watch 445.64.

QQQ neutral. Watch 373.77.

Macro trend downtrend.

Realtime prints low volume.

Close prints low volume.

Prints are not very telling tonight (again). SPY is offering the best levels to see which way we turn out of this dip. Watch the 2 levels below and also the 20 day moving average (red arrow) at around 444.

 

 

Thursday

SPY lost the 445 level and the 20 day moving average this morning and then jumped back up. So basically we’re in the same spot as yesterday, which is pretty neutral.

Anyone see QQQ dip to within 2 cents of my level?

Darkpool Lesson

I will often draw very large megacap trades on charts. If you check out AAPL in the chart below, it bounced from one of these levels that traded on 8/17. That $554M at 175.10 looks like a short cover very close to the same level.

People ask me how long you can use levels. The answer is a long time, sometimes weeks, months, or years.

 

SPY PRINTS

No huge volume here, so they didn’t buy the dip yesterday.