ES / SPY Trickery Afoot, and Around the Whale Filters
Banter!
🕵️♀️SPY Analysis:
SPY is headed up, but today there was caution for one reason—MMs love this single trick to bag retail.
Wednesday, in its simplest form, was a nasty backtest of the lower monthly level (in red) that dipped just beneath to tap perfectly off the weekly level in white.
To the undiscerning eye it’s a passed backtest of the monthly and we move on—but remember, each level is verifiable in it’s own right, so technically, they just backtested one of those two levels.
Today: the random drop we saw wasn’t random at all, but instead a testing of the second of those levels on ES, the monthly, which we passed:
But buyer beware—on SPY they still have one of those levels open on the downside, and any significant break (like the one we’ll describe below) is likely that backtest come to fruition:
🌅For tomorrow:
Watch this hourly wedge forming if the their touch sets here on the downside slope—this will lead to a large movement to the up or downside
🪙BTCUSD
There is a backtest at 67,000 looming, but it has support here at 67,700.
The Flow Section:
Around the Filters: Looking at some results from our key filters. For access to the filter links so you can view them yourself, whenever you’d like, the entire list with explainers and weekly tutorials is available to annual subscribers.