🚨 Orange Swan Filter Flashed Extreme Sell-Off Warning for Two Days — What Now?
An analysis of Index Flow and Levels with an eye on what's next, and a whale pick
🧠 Orange Swan Flashed Extreme Sell-Off Warning for Two Days — What Now?
Yesterday’s Orange Swan reading basically screamed sell.
That set the tone heading into today. The question was does that pressure keep pushing, or do we get a breather?
🦢 Today’s Orange Swan Read; Is it a leading flow indicator?
Score: 3.29 / 10
Calls $1.87 M Puts $3.81 M Gross $5.68 M → Risk-off tilt
Today’s print cooled off a bit. The score ticked up to 3.29 from 0.62 — still bearish, but not the “get me out now” zone from before. The index-only side (SPY, QQQ, SPX, NDX) came in around 1.05, so puts still outweigh calls, but the panic’s easing.
That little bump tells you the worst of the pressure probably passed. If the next session comes in without another wave of index puts, that’s when SPY will start working its way back to the upper gap.
🧭 SPY Levels
Key: 🔴 Monthly ⚪ Weekly 🟡 Homemade 🔵 Gap
(colors correspond to chart)
