Dave Barnhart analyzes dark pool prints and institutional positions in QQQ and GLD. QQQ is bullish above 713.25 and bearish below 711; GLD is bullish above 404.50 and bearish below 401. He maps intraday support, resistance, and moving averages to track smart money trades.
Chapters
Good morning, traders. It's Tuesday, September 1st at 4:29 AM. All right, 2 stocks for you to trade today. We've got the QQQs, we've got the NASDAQ, and we've got gold, the GLD ETF. So let's go ahead and have a look at QQQs. We're looking at the late prints. These are ones that are reported 24 hours late. And look at some of these sizes. I mean, when you're a $700 stock and then there's 5 million shares, 2 million shares, things like that, this is billions of dollars going back And looking at our month, we can see here 5.5 million back here August 3rd. And this was a great swing entry point because we had pulled back closing above the prints, and they did it again. There's another 8 million here that pushed us up into this consolidation. And so we've got this high where we've pushed off like 9-10 million prints, came back testing it again, pushed off this one, and now we're pushing below. So we've got this high Lower low, lower high, and let's see if we can come down here to about 700 or 687. We need to break above this 723 anyway, at least to get to 730. So let's map this out on the intraday. This one can move about $9. We're going to be bullish above 713 and a quarter. There's a 3.7 million share print right here. So, uh, yeah, we need this to be a support. 714.09, 714.33, 7 $754 up here. This is also my 200 simple moving average. $715.95. I actually stopped right here. I mean, the ATR is $9, uh, but this can be difficult right here. You can continue on if you like. This is the post-market support. We've got a print, 2 cams, 200 simple moving average, 200 exponential, the 50, 1.8 million. In dark pool activity, so I mean whatever you want. I I cut it short here. This can rally, of course, but this is a pretty big lid on that. Just to be careful, we're going to be bearish below 711. We've pulled back to this S2 right now, right to the penny. We've got this print at 711.19, 2.1 million. So you want this as resistance. So we need to break below 711. Maybe come back and test it, roll over. Target 710, 706.98. So 707, that's S3. That's usually oversold, but we'll see what happens. Then we've got 702.57 is S4. 705 is this 8 million that we discussed. And then we've got 698.15, which is S5. All right, moving on. Let's go ahead and look at gold. So this is the gold ETF, and this one's retracing a little bit as well. So here are the largest trades in the last month. This was kicking it up the hill. Well, actually down here, $700K. These are some fairly large ones pushing it up the hill, pulled back, and at the top here, look at this, $4 million. These are the biggest ones when you're watching institutional Levels. The biggest one in the cluster is the one really, really to watch. So 429 was 4 million, and we just been pushed down the hill. So this is retracing back pretty hard. We've got this big one here, 900k at 398.55. That might be a target today with these moving averages, but you really got to get above the 4 and 8 exponential moving average here in order for the trend to change. So let's map this out intraday, and this has moved a little bit. I had to remap it out because gold seems to be dying here a little bit. We're going to be bullish above 404.50. Let's get above this green cam right here. Target 405, 405.95 is this one, 406.27, 407, 407.35, and 37 right here is— there's the pivot line. And this is the same thing as the Q's. There's the 200 simple, 50 simple, 200 exponential, 3 pivots, and the post-market support and this resistance here. You can see how this just pushed up against my 200 exponential and died. Okay, so on the downside, I've already had to change the mapping on this one. We were originally bearish below 402.50, but, uh, it already moved, so we're going to be bearish below 401. Target 400. 399.57 is S3. 398.55 is this 900K we had mentioned. 395.67 is S4. Then 391.77 is S3. And look at this, this is a great, uh, great example when the 4 exponential moving averages riding along the 8. So the 4 is the red one. That's excellent. Look at this momentum. The short-term momentum touching it, pulling back, touching it, pulling back. These pivots are support and resistance. I couldn't ask for a better example of this actually working. And so for those of you that like, what on earth are these pivots and cams? This is them working, right? They're very good. I won't trade without them. All right, happy trading everyone. Please don't forget to like, share, subscribe, do all of that great stuff. Leave some comments in the comment section below, and we will see you tomorrow with all new trade setups. Happy trading. MobyTick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
