9/8 in review

9/8 - SPY up by 2.51%

Secondary:  has defined a new up cycle; continued positive divergence in the slope

Primary: SW: +1775, Slope: +477, Change: +15, Value: +1888

SPY MP: down on the day.

SPY Liquidity (All): down on the day

SPY Algos Liquidity: down

SPY Dark Pools Liquidity: down

VXX MP: flat

Key components for the trading day:

• Constant highly positive SW
• Afternoon reversal marked by MP/Liquidity/VXX MP
• High upside burst given the reversal, very strong activity into the close (they bought the close)

Due to an extensive analysis during the day, I will keep this post short. The Secondary has identified a new up cycle with massive positive divergence on a very strong day - today was possibly the strongest day since the panic, based on volatility and constant buying after afternoon reversal after a partial up gap fill. However, liquidity still doesn't support the price action. 

We are at an intersection point right now, where the momentum could push us higher, or it could weaken into the resistance level. The value of the Primary is also relatively high for a solid up move.

So far, 199.6 is our target based on the positioning of the Primary, Liquidity and VXX MP. 

Tomorrow should give us some clues about the identified up cycle on The Secondary, since this is the second time it happens during the past 3 trading days.