Wednesday 10/26/2022

INTRO

Yesterday:

Data says the selling has begun. Selling is a process though. You can’t sell $1 trillion of darkpools in a single day. In preparation for the bear market this year, the boys at mission control sold $10B SPY every day in December. Every single day.

One bad sign today is that I feel bullish, even with the earnings dump after hours. That can be a contrary sign when I feel bullish.

Will the market dump tomorrow? Maybe, but they typically take several days to sell. The chart pattern will look like a few days in a small range where price keeps ramping up and curling over.

Day 2 of selling today. The most important prints today are the close prints. Those are the ones you don’t ever see intraday. They don’t show up in the volume until after 4pm. We don’t know the trade price either. Today would be a good day to try out a free 7 day trial.

Did everyone see price ramp up and curl over today? That is 2 days in a row.

SPY PRINTS

Anybody remember what I said darkpool targets are?

Answer: 7-15%

SPY is up about 7% from the lows.

Yesterday:

I’m skeptical that the end of day SPY print is selling. Might be, but that is really small. If they were in a hurry that number would be $4B (or more). They are not in a hurry to exit yet.

Now look today. $6.5B and price is under that. That 384.83 is a good market pivot now.

Are they in a hurry today? Maybe.