Mar. 8 at 3:03 AM
$INTU -17% week. RSI at Aug 2022 lows — the exact level that marked the bottom last cycle.
Chart setup is textbook reversal: multi-year support at
$450–480, long-term trendline at
$380–390, volume spike showing buyers showed up.
But the flow table is alarming. Put after put after put.
$470–473 strikes, 03/20 expiry, stacked in blocks and sweeps. Someone loading puts RIGHT at support, same playbook as
$JEF today.
Bull case:
$442 holds, RSI analog to 2022 plays out →
$520 →
$560 recovery.
Bear case: flow is right, support breaks →
$421 →
$380 trendline. Those
$470 puts print.
Two of the most technically beautiful reversal setups today (
$JEF +
$INTU) both have institutional put walls at support. That's not a coincidence. Macro fear is real.
#INTU #Intuit #hovdid