With the 'Powell Put' being repriced drastically lower, the strategy that has created more 'genius' stock market investors than ever before (BTFD), has stopped working...

In fact, it appears the BTFD mentality has been fading all year as Smart Money Flow has not been the ubiquitous buyer at the end of the day that it has been for years...

[The Smart Money Flow Index is calculated by taking the action of the Dow in two time periods: the first 30 minutes and the close. The first 30 minutes represent emotional buying, driven by greed and fear of the crowd based on good and bad news. There is also a lot of buying on market orders and short covering at the opening. Smart money waits until the end and they very often test the market before by shorting heavily just to see how the market reacts. Then they move in the big way. These heavy hitters also have the best possible information available to them and they do have the edge on all the other market participants.]

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For old time's sake...