In this February 2, 2026 market commentary, Dave Barnhart reviews the day’s trade setups for the S&P 500 ETF (SPY) and the silver ETF (SLV). Using TrendSpider charts overlaid with real‑time dark‑pool data from Mobytick, he walks through large institutional prints from the past 60 days, explains how price action around these prints signals potential moves, and outlines his entry and exit criteria. For SPY he set a bullish trigger above $688.12 and a bearish stop below $686, citing specific $4‑5 billion trades that tagged key price levels and describing the subsequent breakout to near $697. For silver he identified a bullish zone above $72 and a bearish zone below $69.75, referencing a 313 million‑share trade that preceded a sharp price drop and later a rebound toward $76‑$77.55 targets. Throughout, Barnhart emphasizes the educational value of watching institutional volume rather than relying on traditional support/resistance, and he promotes the Mobytick‑TrendSpider partnership, encouraging viewers to use their indicators for real‑time trade alerts.
Chapters
Good afternoon, traders. It's Monday, February 2nd at 3:18 PM. Let's review our trade setups we had for today. We had SPY and we had silver. So SPY bullish above 688.12, bearish below 686. And so I wanted to show you this. This is using Trendspiders. So I've got, um, the largest trades in the last 60 days here. And so See this daily candle here? This one, look what it did. It opened, comes down, tags the 681.78, $4.3 billion from back here, December, December, whatever it is right here, December 15th, tags that, starts moving up, right? When we look at this on the intraday, this is how we can determine if things are really going to take off. We come down, tag the print, and then take off with some actual volume, right? You see that all the time. Now, here on the left-hand side, it's the overlay of this as well, plus these ones here are ones that just showed up today. So, when you're looking at this, 45 million, 49 million, 50 million, there's 4 or 5 of them right there. And so, as they come in, when you're watching this, and so here we actually We actually came up, break, retest off a print level. Then we break, retest off a print. This is a nice $700 million share trade right here. And then break, and then there's more prints today. Break, retest, tag the print, test, pull back, get more. And then here we're back retesting these prints from way up here, which is a 4-point What's this one that we're, um, we're tagging right here? $4.5 billion, $693.89. $4.5 billion trade from right here, January 14th. So those of you that can't see it right here on your chart as they— the, the trades occur within 60 seconds of editing the tape, right on your, right on your chart. So anyway, I just wanted to show you that, but we're bullish above $688.12, bearish below $686, $688.12. Uh, well, the 686, let's cover that one first. 686, this occurred right here at the 8 AM candle. You really don't count that. I'm not going to count that as, uh, as an entry point because the 8 AM candle, what actually happens here is you get a lot of trades that are reported, you know, they run out of time to report. So 8 AM, you just get this flurry of trades and you see this massive price action here but it doesn't really mean too much but we came down almost to this print level here and, and took off. Now this I mentioned could be interesting as well because we did come down almost tag this print then you have this was a lot of volume comes back breaking up test the print come back breaking above so we could be off to the races there so I'm not going to count this as an entry in this mess that's there. So, um, uh, bullish above 688.12. So this, when we got up to the open here, we were testing almost 690, it was 689.50 level, and this just took off. So 688.12, that would be down here, and this would have been an entry coming back here. We mapped this out super early. Like back around here we were looking at 688.12, we pulled back, came back and tagged it, had this whole cluster right here, and then took off. And so yeah, I had mapped this out to 691.61, and we actually blew past that. 695, 696, 696.21. We got a high up here of almost 697. Did we hit that? Almost $697. So when you have it riding the 4 and the 8 exponential moving average, no reason to get out. You know, you've got this pullback. You could have gotten out here, maybe get back in. But anyway, great trade there on the upside. Let's go ahead and look at silver. Okay, so silver. I mentioned about the crash the other day on Thursday. I think that was Thursday. We wound up getting this 313 million share trade. This was 3 million shares at 10:17 in the morning, and that was on this previous day. You see this one here, the 29th, and you see this big wick that's there. There was 313 million one trade. And the next day, boom, we tanked down. Now I see a lot of things on Twitter. It's manipulated. Yeah, of course the market's been manipulated for decades. It was 1971 or something like that when they were able to trade in alternative exchanges. So look at the low of this. The low was 69.12. And then look at this, 68.88, 69.25, 130 million. All this All this together, this was 3 million shares in here as well, just like up here was 3 million shares. So this wound up— if they were buying down here, clearly they were, right? They were buying back here, added to their position, come all the way back up here, dump 3 million shares on the open market, and then of course, yeah, we pulled back and everybody's screaming. It's like, yeah, if you watch the Dark Pools, you know. So you can at least be prepared. So here's where we're at today. We, um, we opened, wicked down to this bottom, came up, almost tested this print, pulled back. So now we're stuck in between on these prints back here from around January. So we'll see what actually happens. And so for silver, we were bullish above $72, bearish below $69.75. So the $72 came pre-market. So this one here, we came up, pulled back to more prints, came up to about 76, which was a target. And then I had another target at 77.55, which would have been one of the, uh, one of the pivots. So 76 on the upside, but then we were bearish below 69.75. I didn't count this mess right at 8 o'clock. And then 67.95 Here we didn't hit that entry point, so it was just on the upside. I really want to focus on the education part of these dark pool trades. I know when people hear about dark pools, they're like, yeah, and that's the end of it. Don't understand how to trade it. I'm looking at this with no support and resistance, just looking at how the price action behaves with the institutional volume. And I don't trade stocks that don't have institutional volume. And look at this. So when you get the heads up watching this sort of thing, could you imagine trading silver and all of a sudden a 3 million share trade comes on your chart and it starts dropping? What are you going to do, right? You don't want to be down here where everybody's panicking, being WTF, when you saw this come in, right? So that's the point. So check out mobyticktrading.com, trendspider.com, and then you can get the Mobytick indicators if you like as well. All right, there you have it. Happy trading everyone, and we'll see you tomorrow with all new trade setups. Mobytick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
