Daily Flow Deep Dive — July 15, 2026
Market Pulse
SPY notches its 12th straight close above the 21 EMA. Price at 754.81 sits clean above all key averages. The 8 EMA at 750.47 stacks over the 21 at 746.2 and the 50 at 742.11. This is a textbook uptrend and it is not wavering. Bulls stay in control until the 21 breaks.
QQQ logs its first close below the 21 EMA after an extended run. Price at 717.74 is now under the 8, 21, and just barely holding the 50 at 717.55. The moving averages are compressed and flat here. This is a stall, not a break, but the leadership has shifted to SPY. Watch the 50 SMA for the next tell.
VIX 15.67 (-5.03%)
Opening
Directional flow leaned heavily bullish at $588.6M against $110.7M bearish for a net BULL read of $477.9M. Semis and software dominated the top of the tape with CRM at $85.2M, MU at $51.1M, and TSM at $41.7M. Bearish premium was thin and scattered with no single name over $13M.
Options Flow Heat Map
Dark Pool Heat Map
Dark Pool Side Accuracy
The prints shown here represent filtered institutional block activity from the raw SIP tape. Extended-hours clearing prints, broker-matched crosses, and post-close settlement noise are removed before scoring. Side direction is classified using execution price relative to the live bid/ask at each print — the AGG% score shows how decisively price crossed the spread: 100% swept the ask, 0% hit the bid.
Prints marked ◆ carry the highest conviction. A corresponding options hedge was detected on the same name within 30 seconds, independently confirming both the block and its direction via Black-Scholes delta matching. Where the options tape and dark pool agree on the same name simultaneously, the signal is institutional across both markets.
For unconfirmed prints, side is a strong inference. Confidence is highest in liquid, tight-spread names. In wide markets or lower-ADV names, treat direction as context rather than conviction until corroborated by the options tape or the technical picture.
