Overall sweeper activity was mixed on Wednesday. The flow had a bullish print in most of the session, then protection started to mix in throughout the afternoon. Most of the order flow Wednesday, especially the size, likely was August position replacement. Every round of buying that looked interesting, and multiple August positions in open interest are set to expire on Friday. What does that mean? Doesn't mean much of anything, not a bullish or bearish bias, so we can look for post-August expiration buying in any of this week's activity that may be interesting or confirmation.
On the sentiment front...