Transcript of The 2nd Largest SPY Trade Ever...
FX Evolution - Trading Academy
0:00the second largest transaction cluster0:02ever recorded for the spy. You've just0:05witnessed history whether you're a0:06trader or an investor this week. And0:09with rejections off weekly mean0:11reversion, one of Wall Street's favorite0:13reads, it's clear that something started0:15to happen underneath. But is this good,0:18bad, or ugly for us as investors and0:21traders? Well, we have to look a little0:23bit deeper with diesel prices starting0:25to move over the weekend due to0:27geopolitical concerns once again and0:30many actually watching pizza orders just0:32like we did back in 2024 with Bitcoin0:35squeezing to resistance and a whole0:37bunch of questions starting to get asked0:39about the health of the overall bond0:42system. There's a lot to get into for0:45this weekend special edition. Whether0:47you like stocks, commodities, or0:48cryptos, join us as we unpack some0:51massive news across the board. See you0:53soon.0:57Well, welcome back to one of the largest0:59daily shows on the planet. It's great to1:01have you here and we've got a doozy1:02today because we need to unpack what's1:04going on in the macro world, Wall Street1:06flows, and of course, a couple of sneaky1:08darkpool transactions that have gone1:11through as of Friday. that is secret1:13trades between the biggest players out1:16there. Got a lot to get into, so stick1:19around if you love markets like we do1:21and you love the approach of price1:22action, data, and of course, a little1:24bit of those flows. Let's begin here1:26with Domino's, though, because the story1:29going around this weekend anyway seems1:31to be that we're tracking pizza again.1:33Is it 2024? Is it 2025? Or is it 2026?1:36Pizza reports coming in according to1:39around the Pentagon being at unusually1:41high levels. And in the past, some1:43people have looked at this as the1:44potential of something going on. We've1:47also seen Trump moving destinations as1:49well, at least according to the latest1:51reports. Some other big news that's1:53going through this weekend before we1:55touch on that later when we look at oil1:56because it is up over 1.6% so far this1:59weekend is Michael Barry's come out and2:02said that he doesn't like Oracle.2:04Basically, he thinks that big tech2:06filings are hiding something and this is2:08now potentially becoming the big short.2:11Now, of course, it's not the first time2:12Michael Bur said something negative2:14about any of these AI businesses, but we2:16are also seeing other reports that we2:18wrote over on X as well that are saying2:21that even Oracle is starting to have2:22problems getting some of their data2:24centers through quickly enough. And of2:26course, if they can't build the revenue2:28stream, then they won't be able to pay2:30back the huge debts as well. And there2:32are some debts coming. There's a lot of2:33companies that owe a lot in 2027, 28, 292:37into 2030. Remember, if companies can't2:40come up with the money, that's when you2:42get the repricing and Wall Street can2:44get brutal quickly. Just think about2:46semiconductors and hardware stocks, how2:48fast they dropped just a few weeks ago.2:50When we take a look at the US dollar2:51yen, some interesting things have2:52happened. And macro charts at macro2:54charts over on X, shout out to you.2:56You've got a good one as always, which2:58basically shows that positioning is so3:00fast here in 2026. We went from3:03extremely extremely sold here in terms3:07of of course short yen to all the way3:10back into extreme long yens and we're3:12just basically at support and this is3:14the importance also in some ways of3:16technical analysis. Okay, we see this3:18extreme positioning often when you line3:20these up it changes the game. But that's3:22the power of TA. Take a look here.3:25Support extreme positioning long. You're3:28hitting that major support and guess3:29what? It turns around. It's a beautiful3:31thing price action and that's why3:33sometimes the narratives can shift so3:35quickly but still it's surprising to3:38have these uh these shifts so fast in3:40these markets. I think a lot of it's got3:42to do with alos on the small time3:44frames. Will the dollar yen hold that3:46support this week? Well, it's worthwhile3:48probably having an alert there just to3:49note that that could be now a critical3:52level for everything that we talk about3:54on this channel, which is of course3:55particularly bonds, bonds, bonds and3:57central banks freaking out. Speaking of3:59which, The Economist and Time had some4:02interesting covers this week. This one4:04from Jim Biano Biano Research over on X.4:07He shared it, but basically it says4:09here, "Time, how dangerous are you?" Of4:11course, the AI tipping point and can the4:13AI arms race be stopped. Now, whenever4:16you see these extreme things, there's4:18always that idea of if it's in the4:19press, it's in the price. And this4:21marks, I guess, week two or three of4:24heavy covers in the AI world. So, all4:27leading into probably the IPO for4:29Anthropic and what that could mean.4:32Speaking of AI, you know, IPOs in4:35general and even like remember last4:37weekend that big news of all three of4:38the major guys coming out and agreeing4:41with each other it was a bit too4:42powerful. Well, could this start to4:44explain some of it? A lot of you guys4:46very smart and the engineering world,4:48software engineering world, you let me4:50know in the comments section your4:51opinion. Some of you were still, you4:53know, very bullish on AI. Some of you4:55were like, you know what, we're probably4:57starting to see readerative returns for4:59now. We're maybe hitting a bit of a5:00ceiling. Maybe there's some kind of5:02bottleneck coming. But take a look here,5:04according to open versus closed token5:07volumes. Now, this one here was shared5:08from mayhem for markets. Shout out to5:10Mayhem over on X. And you can see here5:13it's uh from versel.com/ai5:16gateway. But basically, it shows here5:18that open weights are starting to make5:20some pretty big ground. So yeah,5:24Frontier models starting to get a little5:27bit worrying and of course this comes5:28off the back of also Nvidia getting kind5:30of involved with that uh company as5:32well. So a lot of stuff happening here5:35when it comes to different companies5:37saying different things and then at the5:40same time basically the race to the5:41bottom for compute costs and who ends up5:44winning the race. Remember you are a5:46little bit damned if you do, damned if5:48you don't when it comes to AI. So5:50companies just all have to jump in and5:52this is what happened with electricity.5:53This is what happened with rail. This is5:54what happened with the internet. And5:56there always going to be some winners5:57and there always going to be some heavy5:59losers. And the problem is even the6:00winners and I wrote about this actually6:02in a newsletter and just a reminder sign6:04up free newsletter links in the6:06description down below if you like what6:07you're hearing so far or even if you've6:08been there for a while and you haven't6:09done it, get it done guys. Links in the6:11description totally free. But I actually6:13wrote about the similarities of the6:16right idea maybe not even being bullish6:18enough on the idea long term but the6:21wrong timing that is the wrong6:22investment at the period. Speaking of6:24changes in the air firstly here Bitcoin6:27another big story of the weekend or6:29coming into the weekend was that squeeze6:31we saw last week and you can see here6:33the flow numbers are in and guys it went6:36from being pretty topsyturvy. Remember6:38we talked about it being likely a pit.6:41So far so good. We'll see whether it can6:42squeeze through couple of net expiration6:45calls soon. But this level here, such a6:48critical zone and squeezes straight back6:51up to resistance, putting on like 6% in6:53a session just like that. You know, you6:55see a little bit of relaxing here from6:57the government. It's funny the the thing6:58about AI or or crypto or anything, it7:01seems to always just be really a7:02government thing. It always has been,7:04but nowadays more so than ever before.7:06You've got to look at those ETF flows7:08and you've got to understand the options7:09market if you're a crypto trader. Uh,7:11it's so important. Let's now take a look7:13at how the S&P generally trades over the7:16next coming month and a half leading7:18into, of course, the allimp important7:19midterm elections. Now, we're really in7:22that kind of closeness now to that. And7:24Polycarp FX here is just written down7:26kind of like the countdown weeks and7:28what's happened in the past. Does this7:30mean what it's going to happen in the7:31future? Of course, the answer is no. But7:34often the weakness is kind of around7:36this area and then it becomes strong,7:38which is weird because of course we7:40ended up with a bullish hammer last week7:43on the S&P. So, you know, the price7:47action so far has actually been a little7:48bit more bullish side. We'll need to7:50clear a few levels to actually see that,7:52you know, the options goes into positive7:55gamma and some stuff like that. But7:56still big rejection off the weekly 20.7:59And if you don't have the weekly 20 on8:00your charts, what are you doing? You got8:01to put the weekly 20 on your charts.8:03It's like the best basic indicator and8:06we know this in many ways because we've8:08talked about it for six, seven years on8:10this channel, but also we've just8:12discussed the idea that Wall Street8:13tends to like that weekly 20. Now, we8:16spoke about the second largest cluster8:18trade ever. And usually, you know, that8:20can mean different things, but this8:22happened on the spy. Take a look. It all8:24happened around that kind of resistance8:26high. And this was huge. I mean, it it8:29came in here according to volume8:30leaders. And if we put it in some I8:32guess concepts here. Yes, it happened8:35into a big net expiration. But still, I8:38mean, it could be a buy, it could be8:39sell, we don't know yet. But take a look8:41here. The last time we got a big one,8:43this was the number one uh back there at8:46the end of last year, the start of this8:48year. And basically what happened was8:49the market just went sideways for a8:51while. So you might think, well, much to8:52do about nothing, but then it ended up8:54dropping. So, I guess you would have8:56said that's probably someone selling and8:58then they just keep selling smaller9:00clusters leads into some kind of panic.9:02And you might say, how do they know9:03something like that's happening?9:04Remember, there's always an excuse.9:06There's always a reason. It's probably9:08something was going to happen and they9:09were going to use it. And then we ended9:11up getting, of course, a massive rally.9:14But you can kind of get an idea here of9:16how important these clusters are. They9:18tend to happen at critical points. So,9:21even this cluster here of number eight,9:23you might be thinking, what's that?9:24Well, that is the break and retest of9:28the support becoming the resistance, the9:30roll reversal kind of area. So, yeah,9:33love a good bit of darkpool, but that9:35was a big one there. The second largest9:37cluster ever. Some other big ones, AAPL,9:39old Apple's been doing relatively well9:42and they released the Duo and the market9:44thought that was pretty fantastic. I9:45asked you guys, are you going to buy the9:47Duo? Oh, I put a poll out there of the9:49Apple people. A few of you said yes. I9:52was thinking about it, but you know9:53what? I can't get past guys the9:55fingerprint reader and also the price.9:57[laughter] That price is woo. I tell you9:59what, here in Australia it ain't cheap.10:012,000 US sounds a bit better than the10:03converted price to Australia because 310:05and a half grand here. I think the ones10:07that I feel worst for in terms of the10:09Western countries might be the UK. I10:11heard you guys are paying £2,000 for the10:13basic. So, might not sell too well10:15there, but we'll find out. Probably10:17sells out day one. Still big Apple10:19trade. Could it be a buy or sell?10:20Certainly critical point. These are10:22though net expirations. So these are10:24those massive expirations you get in the10:26witching and witching lived up to its10:28name creating quite a lot of V. Another10:30one was Chevron. We saw a the numbers10:32one largest cluster trade ever for10:35Chevron according to volume leaders and10:38this has happened and then of course the10:39weekend's come and we've seen some10:41rising prices here when it comes to oil.10:43US margin debt over time. Now we put10:46this chart a little bit together. It's10:47actually uh 1 I think four something. I10:51think it's like here right now. So, it's10:53not the highest ever. But, I just want10:54to kind of show you that yes, this is10:56important. And and of course, more debt10:58in the system always looks scary, but11:01you've also got to look and I'm writing11:02a newsletter about this at the11:04difference between it relative to other11:06things. So, a lot of you look at it11:07relative to GDP and it still looks11:09pretty high. I mean, it's the highest11:11we've seen recorded over here. But then11:13you do it during market cap and it looks11:15kind of like okay, much do about11:17nothing. So, remember data can be11:18presented different ways. It's11:21understanding which key characteristic11:23really matters. And I find a lot of the11:25biggest most trending stuff. It often11:27looks shocking or it looks super11:29bullish, but it's not really necessarily11:32the the proper way of kind of cutting11:34things back. And the classic is Warren11:36Buffett's, you know, stockpile. We talk11:38about all the time the cash holding.11:40It's not about cash holding. It's about11:42cash to asset value. So that is how much11:45cash is he holding in comparison to his11:47fund value. you'll find yes it's11:48slightly higher than it was pre GFC but11:51still it's not like this massive11:53difference in terms of when you look at11:55the presented in a different way another11:58one last week was probably how did we12:00rally a lot of people are scratching12:01their head thinking oh it should have12:02been so bad or when you see those12:04sentiment reports wow you get an idea12:07fear ac across all the fear boards and12:09the double AI sentiment survey 53.3%12:13bearish we saw like 20% of stocks or12:16something above12:17the 20 moving average as well. It's a12:20very strange market underneath and we'll12:22explain that very very soon. When you12:23see reads this low as well, according to12:26Blue Kurdic Market Insights here, one12:29month later, usually it's a turnaround12:31event. 100% of the time the markets are12:33up and that's strange considering you're12:35leading into of course a midterm12:37election. Usually a bit of a weaker kind12:39of period. Another thing that happened12:41is we touched that 20 weekly moving12:44average. Now, when you do that and you12:46kind of come down and then you you maybe12:48dip it and then rally, then that12:50actually is fairly good for markets.12:52Again, you know, I take these things.12:54They're all an extra little, you know,12:56thought process, but you do need to take12:58everything with a grain of salt, but12:59that's actually quite bullish as well.13:00So, for the bulls out there, there are13:02some things to look at. And for the13:04bears, well, of course, you're going to13:06be just talking about inflation and oil13:08price. You know, when is this going to13:09hit the economy? Will it hit the13:10economy? Those types of things. This one13:12here from Tavi Costa basically just13:14shows the runaway of commodities prices.13:17Remember copper in particular just13:20rallied again weekly 20 by the way.13:22We'll look at that soon. And it went13:24bonkers. It went boom straight back up13:26which is good cuz if you're a bull cuz13:28Dr. Copper is still rallying. And the13:31GDP numbers for the US as well. I I put13:33that in this weekend's report over on X13:35and wow it's um they're strong numbers.13:37I mean that capex spend the numbers from13:41the overall u yeah it was it's just wild13:44isn't it with the the amount of money13:45spent in AI and it's not unusual this is13:47exactly what happens every single one of13:49these tech kind of cycles or new13:51innovation cycles but you've got to ask13:54yourself are we getting close remember13:56it's earnings earnings earnings IPOs13:58IPOs IPOs bonds bonds bonds the bonds14:00are starting to sweat a little14:04kind of IPOs well we saw Altman say I'm14:07not doing it this year anymore. And14:09we're also getting a bit of a, you know,14:11I don't even know what you want to call14:12it, but three guys from AI kind of14:14coming together and agreeing with each14:16other about the powers. And all of these14:18types of things make my uh Spidey senses14:20go off a little bit. So, what are we14:22going to be focusing on moving forward?14:23Sub for this guys. It's going to be14:25those earnings. Those earnings,14:26especially the first three to five14:28reports that you see from the banks and14:30those airlines, so important. the14:33American consumer and basically debt you14:37how much debt's being created because14:39debt creation is growth but are people14:42starting to pull back and more14:43importantly are the banks which should14:44be technically lending more are they14:47starting to see a decline because of14:49things like this is home builders and we14:52just saw one of America's largest14:54builders they went from building 550k14:58550k average house what are they now15:00like 370 380 or something like that so15:02basic Basically, no one can afford the15:04550K. Well, at least not enough people.15:06So, they're building 370, 380K houses to15:10kind of make it work. And this is15:12obviously starting to put significant15:14pressure on as we get inflation, as we15:16get crazy diesel price. And it is going15:18to maybe get crazier. Looks like it's15:21getting crazier. And we've got here15:22number one transaction last week on ITB.15:25And since then, we've got a chart coming15:27up soon. It's actually weakened a little15:29bit more. So, it's pressuring in on that15:30level. We also saw ZOP, which is of15:33course oil and gas. Um, and this had15:36some big trades on as well. So again,15:38when this type of stuff happens, if the15:40market does boost out, it just kind of15:42goes to show someone generally knows15:44something pretty strong. So it's key15:45levels here being hit. It looks like15:47across the board so many places. When we15:50go to rotation, the Friday session15:53actually had more of the same. But the15:55good news I guess for the market bulls15:57was tech continues to be okay. And we16:01saw here software and healthcare being16:05number one and number two. Now we've16:07talked a lot about software on the16:08channel. We've talked about healthcare.16:10We talked about biotech. We've talked16:12about of course just started talking16:14about tech again. It's been a long time16:16since we had to do that because it's16:18just been kangaroo up down all around.16:20But then you look at the last kind of16:21fiveday runs. Oh actually this is the16:23one day run. That was the 5day run, but16:25you look at the 1-day run here, 2.21 and16:28also ekking out just here, tech and16:32semiconductors. So again, the tech seems16:35to be improving a bit. And if it starts16:37to rally, what usually happens when it16:39comes to a bad breath market, what16:41rallies you out generally gamma stocks,16:43generally these these kind of uh16:45positions. So it could be a good sign16:48for the bulls even in a terrible time in16:50the world in terms of the markets if if16:53it does rally up. And that's because16:54remember the economy and the stock16:56market they are different things and16:58these GDP advance kind of figures that17:00we're getting they're really still17:02showing a lot of money out there. The17:04interesting one for me is going to be17:06whether OpenAI does get funding because17:09remember they're going for that private17:10funding again and what valuation that17:12could be such a key here moving forward17:14and maybe not discussed enough. What17:17about if we follow the standard17:19trajectory of a previous most closely17:22structured year as 2026 in terms of17:24dynamics? Well, that would bode badly17:26for the election. Blue Kurtic here17:29putting it together. Guys, just a17:30reminder, I've already said it once17:32today, but I'll say it one more time.17:33One chart, one story, one market lesson.17:35Links in the description. Totally free17:37to sign up. Get the newsletter. I've got17:38a new one coming in just a few days. I17:41think you'll really enjoy it. So, uh,17:42you'll get some value out of that one, I17:43believe. Let's take a look here at17:45what's happening. What is the story?17:47Usually, you would say this is a market17:50that's pulled back a lot. The percentage17:52of stocks above the 20-day moving17:54average. And when this whole kangaroo17:56kind of thing started, we actually17:58talked about the idea that could it be a18:012021 scenario where we actually saw, let18:04me have a look here if I've got it in my18:06mind. Yeah. Uh yeah, around here. So18:082020 2021 where we saw this huge decline18:12in markets and at this point we were18:15actually kangarooing after that first18:16rally from the pandemic and then all of18:19a sudden tech took off and the rest came18:20with it. So tech often leads still. This18:24is actually where like those kind of I18:27guess you would say more aggressive18:29people they sometimes go for markets18:31around this 20 level and the reason is18:34because it looks like that first kind of18:36you know selloff dip that first panic18:38dip and we did hit that weekly 20. That18:40being said it's already rejected and18:42picked up you know 1 and a half 2%. What18:44about the percentage of stocks above the18:4650? Well that's under 30 now. Look, it's18:48still terrible, terrible breadth18:50underneath the hood. Getting close to18:52what you'd usually expect in a like kind18:54of more like 7 to 10% pullback in18:57markets. So, it just goes to show that18:59certain stocks are holding up better19:01than others. What about the Buffer yield19:03spreads? Again, the options market and19:05bonds are not freaking out just yet.19:07We've got a quick check here on Carvana19:10just because we're interested to see19:11what's happening with delinquencies in19:13some ways. And this was that famous19:14short that destroyed everybody. So,19:17we're getting closer to putting, you19:20know, some pressure on the support. What19:22about the VIX? Well, the VIX is back19:23down at 14.82. So, again, pretty much to19:28do about nothing. It might open on the19:31Monday session up because of what we're19:34hearing on the weekend and some of the19:35things that actually been happening. Uh,19:37but still volatility remaining quite19:39suppressed for this time of year.19:40Usually, it's a lot higher coming into19:43the midterm elections. And you can see19:46here Cosby futures there's a little bit19:48of things in the air here. There's wick19:50wick wick wick wick and even this19:52bullish kind of hammer thing on the end19:54of last week. We've got this kind of19:56resistance high and Cosby being South19:58Korean market looks very similar to20:00semiconductors. So semiconductors we20:03have the possibility of a little island20:04reversal. Remember one of the larger20:06transactions came through here and so20:09far the reaction has been more bullish.20:12So, that's a good sign for, you know,20:14people that are looking at tech and20:15saying, "Oh, I think tech's starting to20:17bounce again." Okay, it's the first20:20little kind of, you know, I guess, okay,20:23well, there's something going on, isn't20:24there? And we've got, you know,20:25potentials of new highs here on XLK and20:28of course the chart that we've all been20:30looking at for a while, the Magnificent20:317 and the Mags versus SPY, which we'll20:34unpack in the next video. Let's go to20:36the New York Stock Exchange Composite20:39Index. Again, just showing here more20:41declining stocks, low breadth, but the20:44ones that are the big market cap size,20:46that is those tech ones, they're20:48holding, if not rallying a little bit.20:50What about copper? The doctor is so far20:53happy. And you might think, how? Well,20:56inflation's actually not terrible for20:57these types of usable metals because20:59inflation often shows huge amounts of21:02gov spend as well. And in this case,21:04you've got this huge weak rejection on21:07copper. So again, for the bulls, that's21:10a positive signal. Although all of this21:13eventually puts massive pressure on this21:16K-shaped economy, particularly, of21:18course, the bottom end of the K. I think21:21it's, you know, it's starting to come,21:22guys. I I was watching some videos in21:25America just on got to you got to get21:27away from the hyper bowl a bit, but just21:29on cars and the yards, you know, I'm21:31always interested in in cars21:32particularly, and the cars and the21:35yards, the the premiums off them. So21:38they're going from Yeah. Okay. They're21:40they're some of them are horrible in21:41these cheap yards, but they're still21:43they're dropping them now. Like they're21:44having to go 5,000,000,000,00021:47off. And that's showing real demand21:49problems at the bottom. And rightfully21:51so. This is getting extremely expensive.21:53The memes are out as well on you know,21:56take someone21:58expensive and it's just like someone22:00having a dinner at a at a Shell station22:03or something. Anyway, let's have a look22:05here at gold versus US. What is22:08happening? Well, it managed to close at22:10its first signs of life. And the thing22:13is, if gold actually starts to push,22:15that would be unusual because it's a22:17high interest rate environment. And on22:19top of that, you've also got gold going22:21up, which is the oldest currency in the22:23world. They don't tend to like it unless22:26you're going into kind of like almost a22:27stagflation.22:29But I think it's also a reminder of the22:30power of T8 because a lot of people will22:33think, "Oh, head and shoulders, head and22:34shoulders. Look at the head and22:35shoulders." And they could still be22:37right. But the thing about it was that22:39we still held that little bit of the22:41neckline demand. And the same thing22:43happened on silver. So there was a lot22:45to learn out of last week. Secret little22:48demand. And silver actually pumped up22:50because it's more of a usable metal as22:52well. And it's now will it defend or22:55kind of go through 68. 68 such a crit22:58zone there for it. Homebuilders again23:01pressure onto that 87 mark. Many many23:04many levels here and you can see since23:06the largest transaction we've or one of23:08the largest we've we've now pulled down23:11back to the support. So something I'll23:13be watching. We'll probably track it23:14here together. US oil hit resistance23:17last week and then of course sold off23:19but it has recovered or moved up a23:22little bit over the weekend and23:24depending on what happens there. UK oil23:26as well has uh moved up a little bit but23:30still power of TA the resistance the23:32cross analysis that didn't stop crack23:34though diesel price still rocketing um23:38so yeah okay future paper contracts23:40whatever those spreads but look at that23:42diesel look at the diesel price no23:44wonder look at that I'm actually going23:45to go measure this now so this is April23:48to now23:50173%23:53damn and they say that won't hurt23:56people. Of course, it's going to. I23:57mean, that's, you know, this has to stop23:59soon. Otherwise, it's just it's24:01everywhere, guys. It's it four times24:04into the food in every way you can think24:05of, you know. It just it's just it's24:07pretty brutal stuff. I hope everyone is24:10okay that's watching this right now.24:13Let's go to the Q's. The Q's here bounce24:16off 20, which is again what you want to24:18see. The 20 is good, but because this is24:21say a lower high right now, very24:23important that we get a higher high to24:25keep the rallies going if you want24:27rallies to keep going because we kind of24:30hit 720. That's net expiration. We ended24:32up closing on the net expiration. This24:34is the data we've got so far. As we go24:37to next week, we'll see what happens24:41with the new expirations plus the nets.24:43I wouldn't be surprised at all at 73024:46becomes the key resistance before we24:48really get what we call positive gamma.24:50And the reason is because when you look24:52at the S&P, it's not quite at those net24:56expiration calls or the key technicals.24:58So that's a beautiful bullish hammer.25:01And of course, it looks very very25:02strong. And you go down and you think,25:04well, what about this 7750 cuz 7750 is25:08the previous highs. So it's pretty25:09critical zone. still technically lower25:11lows, lower highs on the S&P. A lot of25:14people getting very bullish on it. I25:16guess they love that. And of course,25:17that's a the weekly 20. It's just, you25:19know, it's a great level. We've we've25:21discussed it for years. But again, 7750.25:25Wouldn't be surprised if a lot of the25:26options move to that level. We'll see25:28how that ends up playing. On Bitcoin25:30side, well, good news for you guys. If25:33you were liking the pit or whatever and25:35you recognized during the session, it25:37just pumped. And although it hasn't25:39taken the high out here of like a 465025:41on IBIT, it is through and it's now25:44pushed that net expiration out to 50 as25:47it squeezes a bunch of gamma. And that's25:50actually starting to put gamma squeeze25:51on. And you'll note here this huge rally25:54taking out the 80,000 and it's sliced25:57and diced. Look at that. Just big25:59candle. Boom. Straight through. When you26:01get a candle like that, you know it's uh26:03taking with it a bunch of shortters. And26:05that's what happened last time when we26:07were sitting here. You basically have26:09all these dudes here shorting. Hopefully26:11this wasn't you guys. And then he just26:13gets smashed. And then in this case, it26:15just became a squeeze to the next level26:17of what we call equilibrium. Are we26:19through the resistance yet? No. Uh do we26:22have some of the good signs here? And we26:23can start putting some anchored VWAPs on26:25here. And I did notice that one of the26:28things that maybe hadn't done is if you26:30put a VWAP, that was a it's pretty26:32beautiful. We did talk about that a few26:34times, but I'm also going to put a VWAP26:36here now and watch the way if it does26:39come back here, how it interacts with26:41this zone. Very interesting times here26:43for Bitcoin. The pit, the pull back in26:46time. Will it end up causing a squeeze26:49this week? Could be pivotal. 82,000.26:52Still waiting on of course some more26:53news, some more government stuff26:55probably before it is able to break26:58free. Or maybe, you know, could still be27:00a trap. You never know. It's there's27:03always two ways to look at it, but so27:04far so good. The flows were positive.27:07For the week ahead, guys, let's have a27:08quick look here and we'll scroll27:10through. We had that FOMC of course last27:13week. Please remember uh there is a bank27:15holiday in Japan on the kind of Monday27:18session here and then it goes into the27:21Tuesday as well. So, what's this this27:24kind of week about? Well, it's going to27:26be I think there's a China trip or27:28something happening and then we do start27:30into the daylight time savings around27:32the world. So, if you're a trader around27:34the world, do remember that's all27:35happening and becomes all fandangled27:37even for these videos. They'll actually27:39go forward for you guys in the US, which27:40is awesome. So, you'll get them even27:43earlier and I'm really excited to bring27:44them to you and keep the quality. So,27:47guys, yeah, I mean this week ahead it's27:50going to be these geopolitical tensions.27:52I'm sure there'll be some curve balls27:53thrown. We'll update you as it goes. In27:55terms of summaries right now, what are27:58we really seeing? Well, it's a market28:00that I think is telling us multiple28:02different stories. There could be an28:03improvement in tech soon. Who knows? We28:05might actually break out of the28:06kangaroo. If that happens, well, the28:08markets will do what the markets do. But28:10there's a real weakness in the breadth.28:12Of course, that's the story we've been28:14talking about for really a month and a28:17half. I mean, it's not not everyone now28:19knows. I mean, you can see everyone's28:20talking about it, but we're at levels28:22where the the stocks would usually be at28:24a 7 to 8% pullback. So, it's just those28:28big tech stocks have just kangarooed28:30around really tight ranges. Bitcoin also28:33just goes to show you again that markets28:35are sneaky. They they look like they're28:37going short, then suddenly bam, they28:38reverse out. And that goes back to that28:40statement, patience, react, don't28:42predict. Have a fantastic weekend. I28:44know you are. And I will see you very28:47soon. Bye for now.
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