Wednesday 9/20/2023

anyone think we'll hit the phantom print?

Intro

Tuesday

I recommend using the same pivots as yesterday. SPY 433.28 and QQQ 370.68

We are under those levels and also the high volume trade box, which is a bearish development. IWM is under the 200 day moving average, which is also a bearish development.

Wednesday

The early part of the day was looking quite nice, and Powell must have said a few hawkish things. Last night, I was pretty sure the boys at mission control were going to drop the market no matter what Powell said.

Remember when I said there wasn’t much darkpool support until much lower? Check out the SPY chart below. We landed within a few cents of my level.

SPY

QQQ levels beautiful today

QQQ

SPY PRINTS

More trades at the lows than highs today. Watch 438.55.

The 443 trades look like sells.