The host uses dark-pool volume prints from the past 60 days to explain why SPY and QQQ rallied hard on April 8. Large sell-offs of 7M, 11M, and 9.4M shares marked swing-entry zones. He maps specific price targets: SPY bullish above 677 with targets to 690, QQQ bullish above 608 with targets to 617.
Chapters
Good morning, traders. It's Wednesday, April 8th at 4:19 AM. All right, what a massive market rally! SPY's up $16.85. We can see that up here. But let's see, did we see this coming? Of course we did with the dark pool. Now I've gone back 60 days because we need to include some of these higher prints. But look at this, look at this massive sell-off here going back here. 5.3 million, 4.4 million. And so we pull back Test the print, pull back. Test the print, pull back. Test the print, pull back. Now this was the key here: seven million at the bottom and this rejection breaking above another print this day, March 31st, was a great swing entry. And I'll be talking about this sort of stuff in my upcoming webinar on Friday at noon Eastern. If you'd like to join, I'll put the link in the description below. Anyway, we got shot up here and we closed above these— this 11 million, this 9.4 million. So all of this, and then there's this catalyst now, there's something going on, ceasefire with Iran or whatever the deal is, but then the market just took right off. So what do we have above us? 4.4 million, 5.3 million, up here 681, 685. Right, so this is pretty interesting, and we do have a retracement trade. So let's go ahead and and look at what we have. We're already above R three, which is usually overbought, but we're going to be bullish above six seventy seven. Target six eighty, six eighty one seventy four is this four point four million print. Six eighty two twenty eight. Then we've got six eighty four, six eighty five fifty two, and then six eighty seven fifty, six ninety, six ninety eighty three is R five. That would get us another 14 points on top. Our ATR is $10. We're already 60% past that. But anyway, on the downside, we're going to be bearish below 673.50. Let's get below this R3. We need this to be resistance for a retracement trade, and we have to be careful because this is so strong. We'll see if we bounce here for another entry, perhaps 672.50, 670, 669.02 is This 6.3 million, 667.88. Then we've got 666, 665.18, 663.92, 662.30 is this, um, 6.7 million. 661.62 was this 5.3 million. And I've stopped here. These pivots and cams are really tight together. We've got these prints, we've got my 200 exponential moving average Here as well. So if you see this, like what's happened here, this was six o'clock at night when this really started taking off. You can see the four and the eight exponential moving average running together right now. There's no reason to get out of the trade because we didn't close below them, right? So this is still really strong at the moment. We've got some waning volume, but it's it's we're only. 3, 4 candles into the day. So this, this is pretty low here, but look at this massive volume that started when the market— after the market closed. So that's pretty exciting there. Let's go ahead and look at the QQQs as well. They're up— well, market's up quite a bit. The Q's are up $19.49. Similar sort of thing here. I don't have to go through everything, but we've got 8 million. So 8, 10, 12.5, 15.5 million up here. That was this huge distribution level And then at the bottom, 2.3 million here. And you see how this was on this day, but we never traded there. These are late prints from the previous day, and we had this massive increasing volume. Then you have this rejection of the bottom, so that's a great entry point here. And then more prints, 3 million, test the print, close high, increasing volume, and probably add to your position at that point. And then boom, we're up. Any of you that are trading options or anything like that, I'm sure you'd be quite happy today. So we're going to be bullish above 608, uh, and then target 608.72, 609.32. So this makes up the 5.5 million that's right there. We've got 610, uh, 612, 613.14. Then we've got 615, 616.42, and 617.06. That is R4. I've mapped this out, just $2.50 levels, $6.20, and then I've got, um, well, $6.25, $6.2250, $6.25, $6.2764 is R5. So for the retracement, we got to be careful because this is so strong. Just make sure you're getting out, um, you're getting out a little bit. Oh, and FOMC minutes today at 2 o'clock, so put a vertical line on your chart for that so you don't forget. Bearish below 605.50. Let's get below this print. We want this 606.48, 605.50 to be resistance. There's a little bit of a gap here on the 5-minute this might fill. So 605.50 target, 604, 602.50, 600, 599.36 right here. Then we've got 595.90, 594.41 is the cam. Then we've got 593.10 is this 5.9 million. Then we've got 592.25. I put it back here to, uh, down to this level. That's giving us what? That's, uh, 13 points on the retracement. But you know, there's these big pockets here, so on the retracement just be careful because there will be some profit taking for sure. On this, so we might pull back and then start moving up again on that if if that actually happens. So that's just a warning with this being so bullish at the moment. Okay, there you have it. Those are your two trade setups for today. So please like, share, subscribe, leave some comments in the comment section below. It's always great to hear from our traders. And yeah, we'll see you Friday at my webinar, which is called. What it means to follow the money. I've got some great examples, and we'll look at some swing trades that you can take on the same day. All right, happy trading everyone. Take care. Mobitick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
