Dave Barnhart maps intraday trades for USO and SPY using dark-pool prints and moving averages. USO targets $142.50 to $147.76 if it holds above $140; SPY needs to stay above 658.60 to reach 662.34. Both are testing key support levels with precise entry and exit zones.
Chapters
Good morning, traders. It's Tuesday, April seventh at four twenty-one a.m. All right, two stocks for you today. We've got U.S.O. Oil's been on the rise. I guess you realize that if you drive a car, and we've got the SPY. So let's go ahead and have a look here. I've got on the right-hand side. We'll do our normal dark pool review here for the last thirty days, and you can see this. Right here, we've got lots of prints here. This is March 10th and 11th. You can see this 800K, 600K, 500K. This, this is millions and millions of dollars here. And then we moved up and there were more trades in here. And then we pulled back to test this print here around 108, this 247K. See, testing prints, pulling back. Moving up, break and retest the print. So when you see all of this in here, they're coming back and adding to their position. And so this was really interesting. We had a pullback to the eight exponential moving average, and towards the end of the day we moved up off of that. Now this might look a little bit bearish, but this is actually bullish to come back and test this level, this 250K level right about here, and come back and test the print. So there's your. Break and retest, and then we gapped up. And so this, this 4 exponential moving average here, the 4 and the 8, I always tell you if the 4 and the 8 are running together, then stay in the trade, right? And so this came back and did that. And so now we're trying to push up a little bit higher here. We're retracing a little bit at the moment. So let's go ahead and have a look. So I was mapping this out when we were about here. So it's hit my first target. So I was bearish below $139.75. Then we'll talk about that in a second, but we were bullish above $140, $150. I wanted to get back up above here and then have a target $142.50. $143.25 is R2. $143.53, $145, $147.76 is R3. It's clear on the upside, but it looks like with this, this gap up, they're taking a little bit of profit. So I was bearish below 139.75, but that trade is already on. Look at this volume here right at 4 AM. That was a big upthrust, and we're coming back to test the post-market here. So this is kind of being a little bit melty. Let's see if we can get below this 138.74. I'm gonna scratch out my— it's already hit my first target. So 138.74 is this pivot level. Let's see if we can break below that. Then we've got 138.11, 137.77, 137.70, sorry, 137, 136.58. Then we've got 135, 134.35. Down here is S2. And, uh, okay, so if we— wherever we're at, so the, the levels that I called out, since this one seems that it's gonna move, this can be support area here. And so if we bounce up here and you get the increasing volume and you get a reversal, then by all means. So look, this has come back to test my $139.35 level here, which was one to take some profit on. Let's see if this actually holds, if this is a strong pullback and then move back up. Otherwise, we've got our trading plan. Mind, this here is a little bit of a cushion to see if this actually holds. So from the levels that I called out, if this is going to move quickly, you've got to find an another entry point where you can make at least 50 cents or a dollar on this depending on how you're, how you're trading. But you've got these pockets on the upside and pockets on the downside there. Okay, let's go ahead and look at the SPY. Okay, so SPY, these are the largest prints in the last month, and the biggest— look at the size of some of these— 9.4 million, 7.2 million shares. Right? So if, if 1 million is $658 million, 6, that's $4.2 billion, right? And this is, um, $5.8 billion. And so billions and billions of dollars. I'm doing a webinar on Friday and we're going to discuss this prints at the bottom sort of thing. And, uh, so I can share the link in the description below for the webinar. If you want to join that, it's at noon Eastern on Friday the 10th. So what we have here is we have prints. It looks like they're selling here because we've come back, we've pushed up, tested the prints, tested the prints, moved below them, and then we came down here at the bottom. So you see how this 7 million here, this came in on this day, but we didn't trade there, so this should have been reported in the previous day's candle. So anyway, The next day was a gap, retested a smaller print, and then moved up back to test the print again, moving up. Now it's a little bit tight here, so we'll see. This is overhead resistance. You see these wicks, you see these other prints here. We are above this 9.4 million, so let's see if we can get above here to move higher. We're just stuck in between prints at the moment. We have a waning volume. This might be a little bit exhausted, but anyway, we've got to trade it best of our ability. I'm not sure of the volatility today, but the point is here when we had this print down here, from here to the— for the next 2 days, this is a 22-point move. That was absolutely phenomenal. So let's look on the left-hand side. We're going to be bullish above 658.60. Oh well, it's very close to that. This wound up upthrusting a little bit as well. This here, the 658.54, is support. So you can see this in the post-market, we've, we've got this break and the retest of this level. So we want to be bullish above 658.60. Let's see if we can get back up here. Target 659.31, then we've got 659.70, 660.08, 660.59. You can see there's Not a lot of room in here, but if it's gonna go, we can definitely go move— go through some of those. $661.24, $661.62 is the $5.3 million. Be very careful of that. Then we've got $662.26 and $662.34. Above this R2 is that $6.7 million, and then we've got $6 33.15, and then we've got $6.65 and $6.6646 if this runs up. So just be careful, take your $2.50, you know, just be careful. Um, the even dollar levels, $2.50s, things like that, those are psychological levels that you need to watch as well. We're going to be bearish below $6.57. $6.57.50. Let's get below here. That'll get us below the 7.2 million print and this cam, right? So 657.50, 656.84 is 9.4 million. And you see what happened here right at 4 AM? We hammered on this S1 and on this print. So this is one of the things I'm going to be teaching Is even trading this intraday on these massive ones. And see, this was March 20th, right? So this is a couple weeks. These are still good. This case, so we hammered here, which is bullish, and then we opened, tagged the print, moved up, and then from there we just pushed all the way up. So we're pulling back a little bit, and we'll see what actually happens here. There's news around 8:30. Today, so there might be a little bit of volatility in the market. So let's just just be careful of that. So we're going to be bearish below 657.50, 656.84, which I mentioned here, and then 656.39, 655, 654.71. Then we've got 653.86. Which is this S2 right here, 652.75. Is this 5,649,066 is S3. All right, there you have it. Those are your trade setups for today. So please like, share, subscribe, do all of that great stuff, and we'll 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.
