Tuesday 7/18/2023

spy selling the highs today?

Intro

Monday

SPY neutral. New level at 450.90.

QQQ “buying the way up.” Bullish. New level at 379.05.

Macro stock bullish.

Realtime prints bullish. Normal volume.

Close prints high volume SMH, QQQ, TLSA.

Tuesday

SPY & QQQ continued to climb, as we got several bullish signals yesterday.

SPY PRINTS

Trades at the highs overtaking trades at the lows. Bearish. New level at 454.10

MACRO TREND

Macro trend somewhat flat on a up day. Neutral.

$10B SPY today. Hmmm.

QQQ PRINTS

$1B borderline at the highs. Neutral. New level at $385.77

LARGE PRINTS

AAPL is a close print, so ignore.

Realtime prints are not bearish at all.

UNUSUAL PRINTS

Are they unloading TQQQ and buying SQQQ? Watch SQQQ 16.64

CLOSE PRINTS

China tickers in here

MSFT at the highs.

SUMMARY

SPY prints at the highs overtaking prints at lows. Bearish. Watch 454.10

QQQ $1B at the highs, neutral. Watch 385.77

Macro trend flat on an up day. Neutral.

Realtime prints bullish. Normal volume.

Interesting SQQQ trade at 16.64. Probably our best clue of the day. I’m guessing this is bearish.

Close prints high volume China & MSFT.

In the next few days. I plan to get retro levels for SPY & QQQ (maybe go back a week).

RR oscillator. I’ll post this for a little while and see how it develops.

• 4hr timeframe: Up (bullish), 169

• daily timeframe: Up (bullish) 313

So far the RR 4hr indicator ranges between 400 and -400 under normal market conditions. Still good breadth. The market probably wants a pullback soon to reset technicals.

Rolls

SPY

Need to fill in some of that blank space.

QQQ

Need to fill in some of that blank space.