I have been watching the Dark Pool trading action for the last several months and I have to say that what the big money does is really interesting as far as what their trades say about market direction.

A few days ago I spotted a huge print on IAU over 5 million shares traded in one block trade at the $11.29 price. I am guessing it might have been dark pool short covering because it happened at the end of big opening gap down. Today IAU closed below the $11.29 price which means that gold is still in a bearish posture for tomorrow.

Do you see that big volume spiker on November 30? That was a dark pool print at $11.29, over 5 million shares traded in one block trade. It is a good level to watch for bearishness or bullishness.