We definitely got that “sell the close” institutional selling that I was looking for and then some. This makes 6 out of the last 7 trading sessions that the key index tracking etf’s (SPY & QQQ) were met with high volume selling into the close. This is commonly seen during phases of institutional distribution, especially during the latter stages of a market top/early stages of a new downtrend as the smart money gladly passes the baton to the dumb money (retail buyers), especially on days the market trades higher. A gap down tomorrow, although not necessary, would sure help solidify the bearish primary scenario. Updated 5 minute SPY & QQQ charts highlighting the end of day, high-volume dump into the close.