I’ve created a “Market Pulse” section every morning on Patreon using Charles’ options data. The excerpts from my recent posts were signaling what’s happening now: (Thank you Charles 🖤🦇)

Market Pulse – 3 Days Ago ❗️
SPY is back near all-time highs, yet we’re seeing outflows in broad indices like $SPY, $Q, and IVV. This suggests institutional money is either de-risking or stepping back temporarily with plans to re-enter.

Market Pulse – 5 Days Ago ❗️
Today was a green session on the surface, but red underneath. Although SPY closed near all-time highs, dark pool outflows and option flow suggest fewer investors are trusting the rally. The -$3.79B dark pool outflow from SPY confirms institutional exit.

Such an aggressive hedge move could be a form of pre-earnings insurance or the start of a systematic sell-off.
SPY is rising, but institutional money is quietly pulling back.
This “silent scream” in the market might be the setup for a major move. Either a trap is being laid up top or a door is opening below.