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05/19/2020 Market Recap

05/19/2020 Market Recap

Postby Cobra » Tue May 19, 2020 4:46 pm

Follow through wanted. Was it a start of another 2 days pullback?
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Re: 05/19/2020 Market Recap

Postby Cobra » Tue May 19, 2020 4:54 pm

SUMMARY:

Range day, did nothing but talk. Didn't see the sharp sell off before the close.

NOTE:

Right - called range day here (viewtopic.php?f=2&t=4021&p=282827#p282827).

N/A - just a comment (viewtopic.php?f=2&t=4021&p=282829#p282829).

Right - called range low here (viewtopic.php?f=2&t=4021&p=282832#p282832).

N/A - just a comment (viewtopic.php?f=2&t=4021&p=282838#p282838).

N/A - just a reminder (viewtopic.php?f=2&t=4021&p=282839#p282839).

N/A - just a reminder of a potential support (viewtopic.php?f=2&t=4021&p=282841#p282841).

Weak close. Gap down open tomorrow?
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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.

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Re: 05/19/2020 Market Recap

Postby JFR » Tue May 19, 2020 5:20 pm

SPY daily. Point and Figure with Traditional method of scaling. Different results from different methods. Dynamic scaling shows a bearish bias. IMO this reflects the market. Mixed signals. There is obviously lots of money with the bulls. And yet the economy and the values of businesses are at great risk. Best to be agile. Just in my opinion.


2020-05-19_1421.png
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