09/25/2020 Market Recap

[Cobra]

Bouncing from the support with a good looking bull bar today, I breathed a sign of relief. Statistically down 4 weeks in a row, the next week favors bulls (see the Weekend Update later).

[JFR]

SPY 5. Up 5.23 for the day. My signals showed short. Glad I basically sat out, aside from some early scalps short. Cannot be trusted these days. So is there enough weight to bring down the market? Or will every pullback bring out the robinhoods and the funds? ''Be careful out there,'' as the man said.

[Cobra]

SUMMARY:

Overall, bias was up today after spotted the double bottom right so easy calls.

NOTE:

Right - called double bottom here (viewtopic.php?f=2&t=4227&p=287636#p287636).

Right - called breakout like as the line has been touched 3 times already (viewtopic.php?f=2&t=4227&p=287642#p287642).

N/A - just a reminder of a possible resistance (viewtopic.php?f=2&t=4227&p=287645#p287645).

Right - called this bull shall have legs here (viewtopic.php?f=2&t=4227&p=287647#p287647).

Right - called more up here (viewtopic.php?f=2&t=4227&p=287648#p287648).

N/A - called the pullback likely would be bought here (viewtopic.php?f=2&t=4227&p=287650#p287650) but reminded be careful as the close was near.

The close.

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.

[Cobra]

SPY 5. Up 5.23 for the day. My signals showed short. Glad I basically sat out, aside from some early scalps short. Cannot be trusted these days. So is there enough weight to bring down the market? Or will every pullback bring out the robinhoods and the funds? ''Be careful out there,'' as the man said.

Screenshot_20200925_134748.jpg

Good up Monday then the situation would be finally clear. Right now, relieved but not completely out of the woods yet. Hopefully the statistics does work.

[JFR]

SPY 5. Up 5.23 for the day. My signals showed short. Glad I basically sat out, aside from some early scalps short. Cannot be trusted these days. So is there enough weight to bring down the market? Or will every pullback bring out the robinhoods and the funds? ''Be careful out there,'' as the man said.

Screenshot_20200925_134748.jpg

Good up Monday then the situation would be finally clear. Right now, relieved but not completely out of the woods yet. Hopefully the statistics does work.

By the weight of values (fundamentals), I think a further decline is in order. But the bulls do not give up. The young ones, the robinhooders, are all in. The funds try to protect their assets. Of course hedge funds can go short, and that is a huge risk for the market. It is a helluva fight. My longer term technical signals, as with many Dow 30 stocks, have changed from day to day, these last few days. Crazy.

[Cobra]

SPY 5. Up 5.23 for the day. My signals showed short. Glad I basically sat out, aside from some early scalps short. Cannot be trusted these days. So is there enough weight to bring down the market? Or will every pullback bring out the robinhoods and the funds? ''Be careful out there,'' as the man said.

Screenshot_20200925_134748.jpg

Good up Monday then the situation would be finally clear. Right now, relieved but not completely out of the woods yet. Hopefully the statistics does work.

By the weight of values (fundamentals), I think a further decline is in order. But the bulls do not give up. The young ones, the robinhooders, are all in. The funds try to protect their assets. Of course hedge funds can go short, and that is a huge risk for the market. It is a helluva fight. My longer term technical signals, as with many Dow 30 stocks, have changed from day to day, these last few days. Crazy.

Yeah, it's up so much, bulls won't easily give up (convinced the good time was over).