Between August 18, 2023 and August 21, 2023 extremely large block trades were observed crossing the tape for a select group of mega cap stocks in the S&P500. Typically, this action by itself would not be considered for comment, but it was very similar to what occurred between March 15, 2023 and March 16, 2023. Positioning of these trades indicates Market Makers are still expecting to move prices higher.
Stock charts courtesy of StockCharts.com.
