2022-08-29

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09:30:00 Pete	PRE-OPEN MARKET COMMENTS MONDAY – Last Friday the market was bracing for the Jackson Hole speech from the Fed Chairman. This was like waiting for an FOMC statement and it did not disappoint. The rhetoric was hawkish and it was...
09:32:25 Pete
10:02:49 Pete	right now we have a compression at the lod with a bearish 1OP cycle. That is mildly bullish. I would like to see a nice little short sqz to shake out short sellers during the next bullish cycle. We could...
10:35:53 Pete	That last green candle was an attempt to get buyers excited and to force a little short covering. It was instantly smacked down and it is bearish
10:37:08 Russ	@Pete Seems like we saw the ideal setup for shorts this morning, right? Wimpy bounce with mixed overlapping candles that could not even close the gap, followed by a bear cross with stacked red candles, breaching the trendline of the wimpy...
10:37:12 Pete	We barely got into the gap. That is the "solo" green candle I was referencing and it is bearish! Those are the "tells" you need to be aware of. Now we will probe for support. and the lod could fail.
10:37:36 Pete	@Russ Yes
13:29:07 Pete	Hariseldon wrote: Watch for a bearish divergence hereRead my mind
13:30:28 Pete	So: gap fill, drift lower in bullish cycle, bearish cross, M5 up trend line breach, nasty D1 for SPY.
13:31:55 Pete	Given the dull price action, it does not mean to load up on shorts, but you would at very least prepare for a weak cycle.
15:40:03 Pete	Hariseldon wrote: I know SPY  has to test the SMA 50, SPY knows it, Institutions know it, Traders know it - Either way - SPY is not knocking me out of these shorts - not today SPY, not today (well, maybe today....)I agree...
16:07:50 Pete	The end of Private Ryan "Tell me I've been a good man." Not to be confused with the X-rate version "Shaving Ryan's Privates". That one might have had some tears too.
16:27:32 Pete	SubZer0 wrote: Question I'm starting to learn how to build my market thesis, both on a long term and intra-day basis. I was watching SPY on M5 between 11AM and 2PM, it was consistently making HH and HL (market structure on...
16:49:08 Pete	SubZer0 wrote: Pete wrote: After watching the market until 2:00 you would have concluded that it is not going anywhere. There were no stacked consecutive candles for SPY, 1OVol was below average and we were not able to get thru...
18:22:32 Pete