Started watching Level II several weeks ago. One MM today in the afternoon consistently offering 500+ size on the bid on SPY in the 196 range. SPY declined to 195 range after, but held 196 on the close, and could be an up day tomorrow in the AM.
Looking for 189-199.
Everyone, but everyone, is expecting this week to be down...
Tentative about my new Level II skills, so take this with a great big grain of salt.
~D