4/16/20 MARKET CLOSE Update - INDEXES

Dramamine day.

SPY: Chart with Detailed Levels

Market Structure: Still overall Bearish

Momentum: Bullish (exhaustion)

Internals: Turned back up

Block Volume: Positive

GEX: Negative


SPY Summary: All over the place during RTH and up 3% after hours tonight. That move will not change the MSL but we need to watch this tomorrow during RTH to get a better feel. Full MSL level over the weekend once OPEX is completed.

QQQ: Chart with Detailed Levels

Market Structure: Still overall Bearish (but getting closer to neutral)

Momentum: Bullish Exhaustion

Internals: Turned up - bent

Block Volume: Negative

GEX: Positive


QQQ Summary: Hit the MSL in the after hours session. Just like the rest we will need to see what happens during tomorrow's session and also how OPEX completes. More this weekend...

SOXX: Chart with Detailed Levels

Market Structure: Neutral

Momentum: Bullish Exhaustion

Internals: Turned up hard

Block Volume: Neutral

GEX: Neutral (with no positive gamma strikes surrounding it)


SOXX Summary: AMD and NVDA carrying the weight. Hit the MSL on the nose in after hours. So let's see what tomorrow brings with OPEX and the close of the week!

IWM: Chart with Detailed Levels

Market Structure: Still overall Bearish

Momentum: Neutral (bearish x-over not confirmed)

Internals: Turning down (need to monitor this tomorrow)

Block Volume: Positive

GEX: Negative (still very heavy negative bias)


IWM Summary: This too was up 7% in the after hours...but then Trump wouldn't commit to more PPP funding lol and dumped down 4% but finished up after hours 5.5%. Have to see what tomorrow brings and this is still way far from MSL. Full write up this weekend on this once we clear OPEX. Right now as I type June RTY futures were limit up and are now fading...

VIX: Chart with Detailed Levels

Market Structure: Bullish

Momentum: Reset to Zero (not bullish until there is a cross-over)

Internals: N/A

Block Volume: N/A


VXX: Chart with Detailed Levels

Market Structure: Bullish

Momentum: Neutral (for now)

Internals: Neutral

Block Volume: Turned Up (selling underneath is diminishing/no buying yet)

GEX: Neutral (I was shocked personally when I just ran this)


VIX/VXX Summary: This was about to break up and out during RTH and then the after hours bandits came through with their six shooters and shot it back into the accumulation zones. There was steady accumulation of this during the Trumpathon presser AND the lower FVG pre-market gap that was left yesterday is now filled...so we will have to see what this brings next week (OPEX still looming tomorrow).

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