Thursday 5/4/2023

tons of fun

Intro

Wednesday

SPY low volume neutral.

QQQ “selling the way down”. Bearish

Macro trend selling.

Realtime prints high volume IWM & SMH.

Close prints elevated. Likely more selling.

Couple of good clues today:

• Watch IWM levels in the chart below, especially 172.46. The boys are trading IWM like crazy here.

• SMH may give us the best clue tomorrow for market direction. Watch 246.39

• Notice that BABA keeps getting high volume trades and just dances around in the same spot.

Thursday

SMH

SPY level catching the low

SPY PRINTS

Fairly high volume, much at the lows. Neutral