Back to www.cobrasmarketview.com

   

09/09/2020 Market Recap

09/09/2020 Market Recap

Postby Cobra » Wed Sep 09, 2020 4:28 pm

No comments. The last time down 3 days in a row, the rebound lasted 3 days (blue cycle). Will this time be the same?
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: 47263
Joined: Sat Feb 12, 2011 10:29 pm

Re: 09/09/2020 Market Recap

Postby Cobra » Wed Sep 09, 2020 4:43 pm

SUMMARY:

Called uptrend day early enough, the rest of the day should then be easy. Didn't see the near close sharp sell off coming though.

NOTE:

N/A - reminded a possible resistance at the open (viewtopic.php?f=2&t=4199&p=286897#p286897).

Right - basically called uptrend day here (viewtopic.php?f=2&t=4199&p=286900#p286900).

Right - reiterated uptrend day here (viewtopic.php?f=2&t=4199&p=286911#p286911).

N/A - reminded EMA buy setup here (viewtopic.php?f=2&t=4199&p=286932#p286932).

Right but the breakout was a false one - called breakout more likely here (viewtopic.php?f=2&t=4199&p=286939#p286939).

The close was disappointing but it could mean bulls were careful so shouldn't read much into it.
2.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: 47263
Joined: Sat Feb 12, 2011 10:29 pm

Re: 09/09/2020 Market Recap

Postby Cobra » Wed Sep 09, 2020 4:53 pm

For now not sure whether it's the Stockcharts data delay again, will have to check it tomorrow. Just based on the current data, up 1.9% but it's not even close to a Major Accumulation Day is bad. Noticed even during the intraday the NYSE up volume to down volume ratio never even reached 3 which was very weeak.
Attachments
2.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: 47263
Joined: Sat Feb 12, 2011 10:29 pm

Re: 09/09/2020 Market Recap

Postby JFR » Wed Sep 09, 2020 8:53 pm

SPY 5 minutes. Up 6.58 for the day. After flying high, it finally met up with the EMA 20. A relatively easy day playing some longs. Hello, p bar.


2020-09-09_17-48-07.png
User avatar
JFR
 
Posts: 4571
Joined: Sun Dec 02, 2012 7:24 pm


Return to Traders Lounge

Who is online

Users browsing this forum: Google [Bot] and 12 guests