2022-08-01

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09:30:00 Pete	PRE-OPEN MARKET COMMENTS MONDAY – The reaction to the FOMC statement and earnings from the tech giants has been excellent. The rally the last few days has come on volume and that legitimizes support at the low of the year....
09:44:00 Pete	Two nice stacked candles. We do not have 1OP to lean on, but I think you can be fairly aggressive if you see the right stock here
09:58:00 Pete	There is not an indicator in the world that could have signaled a buy this morning as quickly as reading the price action and understanding "context". I knew within the first two bars we were going higher. These are the...
10:12:00 Pete	The price action early is the start of a bullish trend day in my opinion.
10:13:00 Pete	The bid was tested and buyers lifted every offer they could find. We filled in the gap on the first attempt on stacked green candles and we are back above the 100-day MA. Might it provide some resistance here? Yes....
10:17:00 Pete	If you have nice gains from your longs, take some gains. We should expect a pause here. Let the 1OP bear cycle run and see what it produces. Look for signs of support as it drops and get ready to...
10:19:00 Pete	We did not have a "mamby pamby" bounce with mixed over lapping candles - We Attacked the Gap and the 100-Day MA. That tells us that buyers are still aggressive. How we get from point A to point B matters...
10:25:00 Pete	That was a very long red bearish engulfing candle off of the hod. I am respecting it. If it is erased immediately, it will just be profit taking. If we can't get thru the halfway point in the next few...
10:27:00 Pete	ISM man 52.8% which was better than expected (51.8), That sparked the final push higher.
10:30:00 Pete	These are long red candles and it tempers some of my bullishness. We went thru a similar strong move Fri and a substantial pullback. Off of that support level we started to see nice consistent upward price action.
10:40:00 Pete	on this bounce we want to take a nice chunk out of that long red candle. If we do that in next 10 min we are still in rally mode
10:46:00 Pete	Everybody back in the pool. The action is still strong
12:16:00 Pete	This is a double top formation. We are likely to see more selling. There have been long red candles earlier in the day and that is a sign that there is some profit taking. I would use caution with longs....
13:24:00 Pete
14:00:00 Pete	We are seeing some tails under body here. 1OP has been flat lining in neg territory. It is not much help and the bullish cycle has seen selling pressure. It is likely a bear div even though the trend has...
15:26:00 Pete	We have a bearish 1OP cross coming up and I expect to see us close on a weak note. lod should be safe, but this has not been a very strong bounce.