2022-10-24

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09:30:13 Pete	PRE-OPEN MARKET COMMENTS MONDAY – The market has bounced off of the low of the year and there is some optimism as earnings season kicks into high gear this week. SPY $380 is a resistance level that we need to...
10:02:44 Pete	Mixed overlapping candles on this rally (weak bounce) with a long red candle and a bearish 1OP cross. Good to short here!
12:57:27 Pete	Very light volume float higher. Not a lot of conviction on the part of buyers. Small pullbacks so this is nothing I would fade unless I had some long red candles. It means that when trading from the long side,...
14:05:13 Pete	BennettN wrote: Question Trying to work on reading SPY and getting more accurate with my bias. I notice at this time that SPY is above VWAP, up for the day, and in a bullish 1OP cycle. However, when it comes...
14:13:47 Pete	lilsgymdan wrote: Question How valid is the COVID low d1 candle as a starting point for an algo line? Is it extremely powerful or less powerful? This of course factors in the amount of touch points etcThat low will be used...
14:44:38 Pete	Light volume rally with tiny bodied candles and a long green candle to a new hod on a bearish 1OP cross. Anyone besides me suspecting a "solo" to mark the high of day?
15:19:20 Pete	No "solo". We just keep floating higher on light volume. We are thru horiz resist at $379.50 and testing the D1 down trend line.
15:35:08 Pete
15:35:40 Pete
15:36:19 Pete	Those two charts are very similar. This is what happened one quarter ago in July.
15:39:04 Pete	I don't know that we will see a repeat, but that did result in a nice market bounce. It was a light volume rally on "better than feared" results and when it ended, the selling pressure was heavy. The point...