Right after the RTH open, a massive 1101-lot buy limit order appeared at 6604, acting as a magnet for liquidity. Price dipped precisely into that level, absorbed the selling pressure, and launched a sharp rally — a textbook example of institutional defense. That order wasn’t random; it was a wall built by big players to accumulate positions before the move.
The rally extended nearly 120 points, reaching 6722, where the market met resistance from a 1055-lot sell limit order. This symmetrical reaction — heavy buying at the bottom, heavy selling at the top — reflects clear smart money positioning.
Now, connect this to Powell’s speech today:
The tone was cautiously optimistic but still signaled “data dependency.” Markets interpreted it as a green light for risk assets, fueling the rally from the earlier institutional buy wall. However, the 1055-lot sell order at 6711 suggests large players are already distributing into strength, preparing for volatility once the short-term optimism fades.
In short:
Smart money bought fear and sold euphoria.
📊 Market Message:
6604 = Institutional Defense Zone
6711 = Institutional Distribution Zone
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