The key to understanding the price action always comes back to the SPY. Catching those critical moments where the SPY tells you it’s reversing (double top, strong bar, ETC.), continuing (level break confirmation), or using the 1Op on the SPY 5M, that should be my main signal for trade entry, not the compressions themselves! Kind of a nice epiphany that finally sunk in today while reviewing, and maybe a bit more explanation as to what “market first”-a phrase that could be interpreted in many ways-means to me today in my evolution as a trader. What does “market first” mean to you?
October 5, 2022