Market Overview
The SPY is sitting on 6 consecutive closes above the 21 EMA and the trend is clean. Price is at 779.05 with the 8 EMA at 774.96 and the 21 EMA at 770.30, so the stack is intact and there is meaningful separation between all three levels. VIX at 15.1 tells you the market is not pricing in any fear right now. This is a bull trend until the chart says otherwise, and the 8 EMA is your first line of defense on any intraday dip.
The main issues here are AI names getting smacked overnight with the KOSPI down 3% overnight and yet again Trump is not managing to keep control of oil, which is up over 2% today. So once again we have a day of chop and Bessent still has the rates market to deal with. Not much in the way of interesting flow today other than some mildly interesting flow in VRT and CCJ. There was also a big bullish GOOG trade today, that followed more bullish flow that we saw on Friday.
This is how the live flow comes into the live flow channel in my Discord. It also shows live in the flow database/dashboard.
