Thursday 9/21/2023

sell day #2

Intro

Wednesday

SPY has more prints at the lows than the highs. Watch 438.55. SPY is about $1 away from the phantom print and the A=C 1.27 fib extension.

QQQ has very little volume at the lows.

IWM trades appear to be heavy selling.

Realtime trades bearish.

Macro trend bearish.

Thursday

Let’s take a look and see what the market makers have been doing.

• Thursday 9/14: Zoom up day after several days of consolidation. Most thought we were heading back up, but the boys were selling.

• Friday 9/15: Dump 1.5% into Opex day. Bulls from 9/14 are trapped

• Monday 9/16: Nothing

• Tuesday 9/17: The boys created a “V Bottom”. Many traders would have seen this as a bullish “inverse head and shoulders pattern.” Another trap.

• 9/18 - 9/19: 2 dump days in a row

Something to remember. The market makers can paint anything on the chart that they want.

SPY PRINTS

Data today does not look like they bought the bottom.