Back to www.cobrasmarketview.com

   

09/16/2019 Market Recap

09/16/2019 Market Recap

Postby Cobra » Mon Sep 16, 2019 4:36 pm

No idea whether the pullback was over or not. The chart is not bearish yet.
Attachments
spy.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 44795
Joined: Sat Feb 12, 2011 10:29 pm

Re: 09/16/2019 Market Recap

Postby Cobra » Mon Sep 16, 2019 4:44 pm

SUMMARY:

Range day, nothing interesting.

NOTE:

Called range day here (viewtopic.php?f=2&t=3643&p=272292#p272292).

Bulls indeed took the first chance to rebound making seemingly a double bottom.
2.png


But it failed, decisively broke below the double bottom low but just when people would think it'd be downtrend day, it reversed up all the way to the close, so it'd be difficult to trade. Gladly I didn't even bother to comment.
3.png


No conclusion drawn from the close.
1.png


DISCLAIMER:

The trading log above is meant for myself only which main purpose is to help improving my market sense.

    My blah blah about how the market would go in the next dozens of minutes everyday in this forum, is a way to force me to focus on the market, because by speaking loud, if the prediction is wrong, I'd be embarrassed, which of course I'd like to avoid as much as possible.
    Day trading is not my strongest point. Just for the same pattern, it can repeat frequently on the 5 min chart while on daily chart it may take months to appear once and another month to know whether the idea of trading such a pattern is right or wrong THIS time, so practicing on the 5 min chart is a fastest way to learn to trade.
    Day trading inevitably would have good days and bad days, it's a part of the game. If I always have good days, it means I'm either lying or already the richest person in the world (then why I'm still trading?), so please don't blame me for making any bad calls. The log is for myself only, not meant to be followed.

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 44795
Joined: Sat Feb 12, 2011 10:29 pm

Re: 09/16/2019 Market Recap

Postby Cobra » Mon Sep 16, 2019 4:48 pm

Despite oil up a lot today, it's still in a range bounded by blue lines.
https://stockcharts.com/public/1684859/ ... /533449375

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 44795
Joined: Sat Feb 12, 2011 10:29 pm


Return to Traders Lounge

Who is online

Users browsing this forum: Google [Bot], Google Adsense [Bot] and 11 guests