Friday 11/10/2023

did they sell the highs?

Intro

Thursday

SPY & QQQ low volume at not helpful. No new levels. $1.6B QQQ underwater.

Realtime prints high volume NVDA & AAPL.

Ongoing prints VXX green. Adding USO, SLV, and NEM.

Macro trend downtrend.

It looks to me like the darkpool selling was heavier on Tuesday and Wednesday. Today looked light. Notice that the darkpools filled their sell orders before the drop. SPY & QQQ have not dropped much relative to the climb. IWM & TSLA have taken a beating, but I don’t see enough selling to offset the giant (IWM/TSLA) trades at the lows.

Friday

SPY found support at the 433 level and shot straight up to 440 (very close to the phantom print).

Today, I’m including the close prints section for paid subscribers, as it’s very relevant to what happens next. I’ll also talk about distribution in an uptrend.

SPY PRINTS

Notice more volume as SPY gets higher. Normally, I’d say that the 433 print is a buy, but today I don’t.