$UVIX - Things were moving way too fast to share updates here, but the Discord was hot today. From a $VIX ETF perspective, today's sell played out much like it has in the past. 1 - Setting the stage. Early positioning before lunch arrives in the form of four ranked trades. Price holds near the prints. VL provided context tells us how rare they are, which in turn lets us know we should be ready to react. 2 - Go time. A very large dark pool sweep arrives (#6) and price immediately spikes. Institutions were even kind enough to provide a gentlemen's entry for those who were late to act when price came back to test #6 from above moments after the initial spike. 3 - Exits at the HOD. Several large prints arrive and volatility quickly retreats. This is among the best "all clear" signals I've seen, and suggests the selling in $SPY is wrapping up and $VIX ETF longs are being exited. Institutions don't waste time with these ETFs as they're so sensitive. Nobody wants to be holding this trash once the $SPY sell has reached its target. Image two illustrates the same phenomenon but in cluster form. Those clusters include all trades that qualify for inclusion in VL, not just those that are ranked in the top-100. Image three and four are just me blabbing on with play by play, but since we're all watching this data together, the whole group was chiming in. A true team effort. volumeleaders.com/register

$ES_F 9/16/26 - Pre-FOMC Much anticipated event tomorrow. Because of the current market pricing of expected move and the significance of this particular FOMC, I am rotating towards prior/current developing weekly auction references. ES TPO Chart: Continues to remain in a multi-session balance with a this week's daily auctions creating accepted value below the prior weekly Value Area Low (pW-VAL at ES 7689). The Daily Volume POCs are also situated below the pW-VAL with Tuesday diverging heavily vs 9/14's VPOC. As of this current week's auction development, I have also marked the Developing VPOC and VAH shifts which can be interpreted as rejected migration attempts, both situated above last week's VAL; This will be the MAIN focal point here. Although the auctions are shifting lower, they remain above last week's low of ES 7650.75; this will be the SECONDARY focal point. $SPY closed back below its 50-day SMA (ES 7673.75) and overlaps with the Monday 9/14 VPOC (ES 7674.50). Also sits below the prior weekly VAL. MAIN WATCH: LAAF ES 7689 (Prior Weekly VAL) - Current week developing VPOC and VAH has shifted materially since the start of this week. Any revisits above the pW-VAL should seek LAAF dynamics here, extending into the weekly VPOC shift (ES 7694) and as his as the weekly VAH shift (ES 7712) - Weekly Open is at ES 7680, allow overshoot if observed. SECONDARY WATCH: Acceptance below ES 7650.75 (PWL) - Daily value has maintained above the prior weekly low but at risk of discovering lower. - Seek strong initiative selling below this price point with failed reclaims. Happy FOMC Day! #ES #SPY Disclaimer: For educational and informational purposes only. This is market commentary, not financial advice or a recommendation to buy or sell any security or futures contract. Trading involves substantial risk.

$SOXS - Large clusters (pink rectangles) appearing near local highs and lows, which is exactly where you'd expect to see them. Today we got three top-100 ranked individual trades as well. Most of today's action happening near the LLZ ™️ - $SMH $541-$549

$TSLA 9/15/26 Recently peaked my interest given the arrival of $TSLL as shown here on the 7-day view back chart. We will break this down from the auction to the order flow. Value is steadily shifting value control (TPO POCs) lower over the last few days with responsive selling emerging on retests of VAHs. Today's upside attempts failed to reclaim the prior weekly lower edge (pW-VAL) at 363.60 and now shares the same price area with today's VAH and Developing VPOC shift which rejected the second upside attempt. This will be the focal point into tomorrow. TSLL (2x Leveraged Long TSLA ETF) recently showing large size not seen since November 2025. 4.4M shares last Friday and 3M shares today. Data credit: @VolumeLeaders Given how slow these auctions have progressed lower and all while TSLA remains above the 20 and 50-day SMA without strong continuation can be interpreted as profit taking/distributive in a larger upside trend that might take a a breather. After all, TSLL has done 40% since August without a meaningful rotation. MAIN WATCH: LAAF/Acceptance Above 363.50-364 (Prior weekly VAL + Monday VAH + Failed VPOC acceptance) - Developing VPOC failed to gain acceptance here within short and larger timeframe auction edges. - Rejection here would increase the confidence of distribution among TSLA and TSLL SECONDARY WATCH: Acceptance below 360.30 (VPOC) - Today's VPOC control sits near the lower edge of today's value low and skews the auction towards continuation lower under the observation that sellers reject upside attempts here or at the MAIN WATCH #TSLA Disclaimer: For educational and informational purposes only. This is market commentary, not financial advice or a recommendation to buy or sell any security or futures contract. Trading involves substantial risk.

$ES_F 9/15/26 *NOTE* Analysis is fixed to December 2026 (ESZ26) contract. Constructive close into the beginning of the week after the overnight sell from AI-related headlines. However, this constructivism needs to be unpacked further. Value remains in a multi-day balance while today's transacted business shows the constructive posture; settlement remains far above today's Volume POC (ES 7674.50). The part we will unpack briefly is the developing Value Area (dotted white) and POC (dotted purple) In the top left panel. Although the close does support rejected lower prices, today's VPOC remains fixed lower without steady shifts of higher POCs. Same. goes for the developing Value Area with the D-VAL remaining flat while the D-VAH shifts higher; this is more expansion of value rather than gradual migration higher. Because of this dynamic and still relatively fresh headlines, any downside being brushed off would require the auction to revisit the price level with the heaviest business (VPOC at ES 7674.50) which also overlaps with the $SPY 50-Day SMA and hold firm. Further downside below the VPOC opens the door to the VAL and PWL despite a higher timeframe $SPY trade level sitting here, derived from @VolumeLeaders data and converted to ES. MAIN WATCH: LBAF/Acceptance Below ES 7674.50 (VPOC + SPY 50D SMA) - Overlapping a higher timeframe moving average, any downside that is being mitigated will find responsive buyers here. - Lack of response opens the door back towards the VAL (ES 7665), SPY trade level (ES 7661), and PWL (ES 7650.65) which has remain untested. SECONDARY WATCH: LAAF/Acceptance Above ES 7701 (VAH) - Lack of developing volume reduces confidence of upside participation and today could be viewed as a relief bounce of heavy overnight downside. - Seek buyer absorption or lack of seller response here. Will determine if the VPOC/50D SMA is revisited for another test. #ES #SPY Disclaimer: For educational and informational purposes only. This is market commentary, not financial advice or a recommendation to buy or sell any security or futures contract. Trading involves substantial risk.

$ES_F 9/14/26 *NOTE* I am currently on the ESZ26 (December 2026 contract) going forward this week. This will be brief and to the point as we are currently gapping down materially vs the prior session on AI-related headlines. $NQ_F is currently outside of its Prior Weekly Low and other significant references (as noted by the wide spread in overnight performance) while $ES_F still remains encased inside of the prior week range. Therefore, this will be the main asset of focus. SPY-Derived Implied Move Box 📦 (Raw straddle premium + IV-by-strike distribution) - Lower Boundary: ES 7686-7664 Excluding upper boundary as we are significantly away from it. IM-Box calculated from Friday 9/11 EOD snapshot. $SPY is currently at the 50-Day SMA and covered to $ES_F is at 7670 and inside the lower boundary of the IM-Box. Still can attempt to expand beyond and tag the PWL at ES 7650.75. Several key areas to monitor tonight include: - The Prior Weekly VAL (ES 7689) which is currently above the overnight VAH - SPY 50D-SMA (ES 7670) which is inside today's 0DTE downside IM-Box - The Prior Weekly Low (ES 7650.75). Because of the downward migration in tonight's value, the better probability rejection level will be the pW-VAL at ES 7689. LAAF dynamics are to be observed here with successful order flow allowing rotation back towards the SPY 50D-SMA at ES 7670 and even the PWL at 7650.75 #ES #SPY Disclaimer: For educational and informational purposes only. This is market commentary, not financial advice or a recommendation to buy or sell any security or futures contract. Trading involves substantial risk.

Reorganizing a lot of charts so no write ups just yet! Hope everyone is having a great start to the short trading week! I expect to resume write-ups by Tomorrow or Thursday the latest!

$ES_F 9/4/26 - Intraday Update No write up for Friday's profiles but was monitoring ES overnight to see if we were going to accept above the close and Volume POC for continuation. NFP news kept it in check today with strong numbers. ES traded all the way down to its lower implied move boundary. Derived the box from SPY 9/4 EXP as I was not around to grab the ES FOP chain. Small 100+ passive buyer lots in the box with a current passive seller at Weekly Open (7723.50) Lower 0DTE boundary overlapped with prior day VAH at 7718s with the upper dark pool VAH as well at 7719. Looking back at it, it took time to see if price was going to respond here, passive buys were relatively small and no cross-asset ETF blocks down here either. Just mixed +/- deltas on the micro auction footprints but so far has held the boundary. #SPY #ES

$ES_F $NQ_F 9/3/26 Keeping it short today as I will be a tad occupied. Levels are all set for today. Biggest objective today is to accept above the VAHs today. More detailed Friday write up will be put out later. Rest upper and lower boundary tests. #ES #SPY #NQ #QQQ

$ES_F $NQ_F 9/2/26 Both ES and NQ have completed the ETH/RTH session forming a downside double distribution "B-shaped" auction. The key takeaway with double distributions is the LVN/Single TPO seam that separates the two distributions and belongs to the side who initiated the move in that direction. In this case, sellers are in control and now must defend the new distribution we formed lower. The move lower once again is backed by volume with a very noticeable divergence between the Value POC (TPOC) and the Volume POC (VPOC). Relative to last week's daily auctions, there is a genuine attempt by sellers looking to break away from that balanced range and initiate much lower. #ES VPOC sits below today's VAL which is strong for downside continuation. The prior weekly Dark Pool VPOC and VAL sit above today's VAL at 7651 while the 9/2 EXP upper boundary is encased inside the single TPO seam from today. ES FOP (Futures Options) 9/2 EXP: +/-38pts; Raw premium budget + IV-by-strike distribution. - Upper Boundary: ES 7686-7693 - Lower Boundary: 7608-7602 Updated 9/4 weekly boundaries are included in the event acceptance outside of the daily "box" is achieved. MAIN WATCH: ES 7657-7662 (Dark Pool VPOC/VAL) - Allowing extensions above today's VAL that can produce LAAF dynamics. Seek absorption of upside aggression above this price point. - Negate if accepted above; auction may repair some of the singles from today as high as the upside implied boundary from ES 7686-7693 SECONDARY WATCH: Acceptance Below ES 7642.50 (pVPOC) - VPOC below today's VAL has strong participation behind it for further downside discovery. #NQ Exact same outcome here compared to ES; VPOC situated below today's VAL. strong conditions for downside discovery if accepted below the VAL. Level placement is not as tight vs ES. NQ is still inside of the prior weekly Dark Pool distribution and just above today's VAL is the DP VPOC which will be the focus here in regards to extensions above today's VAL at NQ 29168. NQ FOP (Futures Options) 9/2 EXP: +/-213pts; Raw premium budget + IV-by-strike distribution. - Upper Boundary: NQ 29349-29393 - Lower Boundary: NQ 28922-28872 Updated 9/4 weekly boundaries are included in the event acceptance outside of the daily "box" is achieved. MAIN WATCH: Above NQ 29168 (pVAL) - Lower edge of Tuesday's profile. First signs of responsive selling can emerge here. SECONDARY WATCH: At/Above NQ 29268 (DP VPOC) - The prior weekly Volume POC from QQQ Dark Pool activity. Extensions above today's VAL that fail to attract responsive selling can look for selling interest at the price point with the most amount of business completed by smart participants/off-exchange. #QQQ #SPY Disclaimer: For educational and informational purposes only. This is market commentary, not financial advice or a recommendation to buy or sell any security or futures contract. Trading involves substantial risk.

$NQ_F 9/1/26 - Intraday Update #NQ Exact same setup with ES, NQ manages to trade all the way back to today's 9/1 EXP lower boundary, interacts with the zone and a large passive seller does business here leading to another larger rotation lower. At the same time, ES creates a double top and very likely a poor high from pure eye observations.

$ES_F 9/1/26 - Intraday Update #ES Traded well below the pVAL from ES 7682 and extended past the 8/31 ES FOP lower boundary (ES 7669-7664) leading into the RTH Open. Because of how far below we are relative to last session's profile, there is strict management here if one is seeking immediate short continuation or higher prices at another reference to take sells. That higher reference was the lower implied move for the 8/31 expiration. Interestingly, we spent a lot of time below the "box" 📦 and as we traded into it, a flurry of passive sell lots began to do business within the price boundary. Didn't take long for some footprint observations to be noted: - Increasing negative deltas - Large passive sells - Stagnant price above the current session VWAP All of this combined to me (personally) suggests market is comfortable transacting at prices below what was priced as of close yesterday and we got the rotation here. Still keeping an eye as the day progresses but here is a good example of order flow and level/zone pairing! #ES #SPY

$ES_F $NQ_F 9/1/26 Dual post and likely going to keep it this way for both #ES and #NQ in the meantime. Let's get right to it as we kick off September. #ES The VPOC<TPOC divergence from last Friday confirmed the possibility of the auction migration lower and currently now settled back inside the 3-day balanced range from the prior week. Unfortunately, the migration lower produced another balanced profile. Edge advantages in D-shaped auctions will stem from VAH and VAL; avoid trades inside balance unless you are an algo. ES FOP (Futures Options) 9/1 EXP: +/-31pts; Raw premium budget + IV-by-strike distribution. - Upper Boundary: ES 7733-7739 - Lower Boundary: ES 7669-7664 Weekly Boundaries are also included in the attached charts; derived from 9/1 5pm EST close. Because the auction shifted lower, this has some skew towards sellers who will need to defend the upper edge within a neutral, two-way profile. MAIN WATCH: Above ES 7706 (pVAH) - Monday's upper edge of value where responsive selling should be achieved. - Noted prior weekly Dark Pool VAH sits above here at ES 7722, would produce an annoying overshoot above the pVAH. SECONDARY WATCH: Below ES 7682 (pVAL) - Monday's lower edge of value where responsive buying should be achieved. - The downside migration of value does offer a bit more skew towards sellers but as mentioned before, profiling should introduce the "what if's". #NQ Similarly to ES, the VPOC<TPOC divergence from Friday has allows NQ to migrate the value area lower. Additionally, Monday has completed as a balanced D-shaped profile and therefore the same approach should be considered here; trade the VAH or VAL. NQ FOP (Futures Options) 9/1 EXP: +/-172pts; Raw premium budget + IV-by-strike distribution. - Upper Boundary: NQ 29692-29741 - Lower Boundary: NQ 29347-29309 Weekly Boundaries are also included in the attached charts; derived from 9/1 5pm EST close. MAIN WATCH: Above NQ 29504 (pVAH) - Monday's upper edge of value inline with the prior weekly Dark Pool VAH from QQQ DP blocks at 29503. - Seek responsive selling that is achieved here. SECONDARY WATCH: Below NQ 29376 (pVAL) - Monday's lower edge of value. - Likewise with ES, the auction, despite being neutral, has seller skew due to the migration of the value area lower. - Additionally, the what if here is to watch for responsive buying that is achieved. #QQQ #SPY Disclaimer: For educational and informational purposes only. This is market commentary, not financial advice or a recommendation to buy or sell any security or futures contract. Trading involves substantial risk.

$QQQ - The largest trade since inception just printed. $2.44B across 3.4M shares. $714.60 is your pass/fail line. Price may wash above and below it multiple times before resolving. There's some speculation in the VL Discord that it's tied to an options trade that expires EOY. Cannot confirm. Cannot deny. Regardless, give it time to resolve. It's not likely going to happen in the next 15 minutes. MSCI Rebalance and EOM positioning at the bell today. Might be more behind this. TBD. Lastly, $PSQ (1x Bear $QQQ) is still meandering amid these recent large prints. Explore further on the site. volumeleaders.com/register

$ES_F $NQ_F 8/31/26 Dual instrument post for ES and NQ below as we ramp up another week. Also worked on moving around chart layouts on TradingView as well as MotiveWave which will be a surprise itself later when I share intraday order flow relative to auction references with a twist. #ES Post-JH, the session settled materially lower below the Value POC (TPOC) at ES 7739.50 while volume (VPOC) at ES 7723.50 supporting the moving lower, creating another POC divergence here (VPOC<TPOC). Structurally, the auction is not skewed to one side but the control is handed to sellers here and will need to defend at the TPOC. The established lower edge of value shares the VPOC very closely which is where the next daily auction should seek to accept under given the settlement stance. ES FOP (Futures Options) 8/31 EXP: +/-35pts; Raw premium budget + IV-strike distribution factored. - Upper Boundary: ES 7759-7766 - Lower Boundary: ES 7689-7683 MAIN WATCH: LAAF At/Above ES 7739.50 (pTPOC) - Friday's control with settlement handed to sellers who closed below the value control. Seek absorption attempts over the TPOC. Negate LAAF if upside aggression is rewarded/accepted. SECONDARY WATCH: LBAF/Acceptance Below ES 7723-7722 (VPOC + VAL) - Downside participation supports the settlement lower but requires next session acceptance below the VAL to migrate the auction lower. Seek seller aggression below here that is rewarded/accepted. Negate if Seller aggression is absorbed, this will likely rotate the auction back towards upper references. #NQ Likewise wit ES, post-JH auction settled below its auction control (TPOC) with volume following the move lower. Same VPOC<TPOC divergence is observed here with one exception; VPOC sits below VAL which implies the initiative opportunity to discover lower is stronger on NQ vs ES. But like all profile analysis, we need to open the door for the "what if's". NQ FOP (Futures Options) 8/31 EXP: +/-196pts; Raw premium budget + IV-strike distribution factored. - Upper Boundary: NQ 29704-29747 - Lower Boundary: NQ 29313-29278 MAIN WATCH: NQ 29536 (pVAL) - The lower edge of Friday's value is the first checkpoint to validate the VPOC/Settlement outside of value. Seek LAAF/Absorption of upside aggression here. Negate if aggression continues strongly above value, this will check Friday's TPOC. SECONDARY WATCH: NQ 29620 (pTPOC) - Friday's auction hands the control towards sellers with an outside-value close supported by volume. If new sellers seek to enter at much favorable prices inside value, focus on the TPOC. Seek Absorption of upside aggression here. Negate if acceptance of price develops above the control point. As always, I will do my best to refine write ups and any intraday updates! Context always matters here. Open to any and all questions/comments! #QQQ #SPY Disclaimer: For educational and informational purposes only. This is market commentary, not financial advice or a recommendation to buy or sell any security or futures contract. Trading involves substantial risk.

This was one of the better trades I have done all year, I ended paying for my entire vacation with this move up in Solana, and I announced live during the broadcast. Excited at red arrow powered by @avantisfi I literally made over 12x one this trade, making it one of my best trades of my life

$ES_F $NQ_F 8/28/26; Pre-Jackson Hole Dual chart post going into tomorrow so may be slightly lengthy as I cover both. #ES Overnight gap up from $NVDA ER was sustained but session did not continue directionally to the upside. Thursday ended as a balanced two-way auction going into an anticipated event tomorrow. Balanced "D-shaped" profiles best opportunities come from trading failed/successful breaks of either the VAH or VAL. ES also remains inside the prior weekly DP volume profile and now at the upper edge of the distribution which will also be part of the focus when discussing a break of the VAH. ES FOP (Futures Options) 8/28EXP: +/-42pts Implied boundaries factor premium budget + skew aware IV-by-strike distribution. - Upper Implied Boundary: ES 7775-7783 - Lower Implied Boundary: ES 7690-7781 *Derived from 8/27 5pm EST EOD* MAIN WACTH: AT/Above ES 7745.50 (Dark Pool VAH) - Above the pVAH. Elected as the primary watch as attempts to initiative above balanced profiles are common and currently sits above the prior day VAH at 7737. - LAAF/Acceptance Above dynamics to be observed here. SECONDARY WATCH: ES 7702.75 (DP VAL + PDL) - Aligned level with Thursday low and densest dark pool concentration from prior week. - Sits below VAL and elected secondary watch if upper targets fail to continue higher post-gap up. - LBAF/Acceptance Below dynamics to be observed here. #NQ Balanced auction similar to ES with the exception that NQ has managed to develop above its prior weekly dark pool profile VAH. One profile does not do justice and requires continuation due to today's neutral, two-way auction. NQ FOP (Futures Options) 8/28EXP: +/-216pts Implied boundaries factor premium budget + skew aware IV-by-strike distribution. - Upper Implied Boundary: NQ 29853-29892 - Lower Implied Boundary: NQ 29419-29380 *Derived from 8/27 5pm EST EOD* MAIN WATCH: NQ 29632 (pVAH) - Today's value high sitting comfortably above the dark pool VAH at 29504. Balanced profiles can resolve to the upside but require value built above here as well as supportive order flow. - LAAF/Acceptance Above dynamics to be observed here. SECONDARY WATCH: NQ 29370 (Dark Pool VPOC) - Densest $QQQ dark pool concentration from the prior week and close proximity to PDL and the lower implied boundary - In the event we slip back into the dark pool distribution, seek to trade towards the densest area of participation for LBAF/Acceptance Below dynamics. Let's have a great end to the week. Open to any and all questions on the matter above! #QQQ #SPY Disclaimer: For educational and informational purposes only. This is market commentary, not financial advice or a recommendation to buy or sell any security or futures contract. Trading involves substantial risk.

$ES_F $NQ_F 8/27/26 - Intraday Update #ES Held the DP prior weekly VPOC and extended into the upper edge of the DP distribution + upper implied boundary from 7750-7758. - Noted negative delta build up above the DP VAH which was accompanied by ranked $SSO dark pools (2x long leveraged SP500 ETF) - Look-Above-And-Fail dynamics played out with some patience #NQ Accompanied ES with noted delta divergence in the 12:00 30M footprint candle. - +delta cluster +POC in the wick which absorbed upside aggression - Extended back into upper implied boundary with ES simultaneously. #QQQ #SPY Awesome order flow pairing with correlated cross-asset movement @VolumeLeaders

$ES_F 8/27/26 Below I have attached the $NQ_F plan for tomorrow as both ES and NQ have favorable levels to trade from with depending on the kind of stress you want to deal with. ES's prior weekly dark pool volume profile is wider and although NQ has pressed over its DP-VAH, ES has yet to interact with this or the upper implied boundary. I suspect either we reach this tonight or retreat lower to tag lower references first before deciding if rotating back up is an option. ES FOP (Futures Options) 8/27 EXP; +/-40pts; raw premium budget + IV-by-strike factored in boundaries: - Upper Boundary: ES 7750-7758 - Lower Boundary: ES 7670-7660 Boundaries are much tighter with auction references so I am leaning on clean order flow and interactions with them. *Derived from 8/26 5pm EST close* Again, ES remains inside of the dark pool distribution with no value development above the DP-VAH or VPOC. Avoid blind chases and allow overnight to facilitate trade better assessing if upper references attract responsive selling or lower references attract responsive buying. MAIN WATCH: At/Above ES 7747 (DP-VAH) - Upper edge of dark pool distribution - LAAF dynamics can be expected here given the large gap up from $NVDA ER. SECONDARY WATCH: ES 7704.50 (DP-VPOC) - Densest volume-by-price of DP activity from prior week. - Rejections of the DP-VAH or upper boundary can seek auction to rotate lower to fill the gap and trade where business was mostly concentrated. #SPY #ES Disclaimer: For educational and informational purposes only. This is market commentary, not financial advice or a recommendation to buy or sell any security or futures contract. Trading involves substantial risk.