💡THURSDAY’S FLOW NOTES

Similar to what we’ve been seeing all week, Thursday’s session got off with a bang in regards to both sweeper activity & price action .. Activity eventually dried up once again into the afternoon, with the next uptick in sweepers arriving 10 minutes before the bell .. Sweepers were focused mostly in the underbelly software & momentum names, that’s where all the juice has been .. PINS saw some put selling & short dated spec buying .. WORK saw tack-on buying from Wednesday’s session & the stock had some solid momentum .. Another underbelly software play DDOG with recent buying saw repeat sweeps & caught fire .. All the momentum has been & continues to be in these type names with earnings season working as a catalyst .. As a matter of fact, most of these jaw dropping moves we’re seeing have been set off from earnings .. We did see some order flow elsewhere today for a change, so that’s constructive .. BHC October & JAN call accumulation, TPX September buying and keep an eye on TWTR off tomorrow’s open ..

We get a lot of info in regards to sentiment & positioning tomorrow .. Weekly AAII Sentiment starting things off with a fresh BULLISH signal today .. Tomorrow we get updates on BULL/BEAR, SHARPIES/RIFF-RAFF & couple others .. All & if any heat out of sentiment is coming from tech & some pockets of momentum .. Eventually we’re going to need to see some legit rotation out of these names, some of them have just put on too much weight here .. Regardless this likely leads to a healthy flush in these hot pockets & that’s where we would want to keep an eye sweepers for possible post-earnings entries ..