The Market Maker accumulation process was in full swing on August 5, 2024. For example, it appears they accumulated at least 5 times the number of shares in the SPY that they normally would on an average day. This inventory will be redistributed as the markets move higher. In the background, CNN’s Fear and Greed Index hit 18 with an intraday low of 16. In comparison this index closed with a low of 17 on October 11, 2022. The Dow is still on track with the 2021 eight point chart shown below.
Note that this information is for educational purposes only and not a recommendation.
Charts are courtesy of StockCharts.com.
