02/27/2020 Market Recap

[Cobra]

Closes at the low of the day so probably still a lower low tomorrow at least. A rebound should be just a matter of time, however, likely it's just a rebound. This bear shall have legs.

[Cobra]

SUMMARY:

Gladly wasn't tricked by the intraday sharp rebound which was because of the usual buy programs at MA200, they always buy the very first touch of MA200. Unfortunately today they're not strong enough to lift the market. I almost fell for it, thought I missed THE bottom. Guess I was just lucky today.

NOTE:

Right - good reminder here (viewtopic.php?f=2&t=3893&p=278668#p278668).

N/A - good judgement standard here (viewtopic.php?f=2&t=3893&p=278671#p278671).

Right - called more up here (viewtopic.php?f=2&t=3893&p=278695#p278695).

Right but it's a lower high and I wasn't sure so useless - called the pullback would be bought here (viewtopic.php?f=2&t=3893&p=278709#p278709).

Right - called a rebound here first (viewtopic.php?f=2&t=3893&p=278716#p278716).

Right but I wasn't sure - called measured move down here (viewtopic.php?f=2&t=3893&p=278718#p278718).

Panic close but I cannot draw any conclusion as either it's the panic, so tomorrow should gap up, or it also could be the market knows something bad is about to happen after the close so likely a gap down tomorrow.

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.

[jademann]

My short target for a bounce is this green sma.
I may sell and buy back my spxu here

https://stockcharts.com/h-sc/ui?s=%24SP ... 291221744c

[daytradingES]

JUst a Reminder!

The US GOVT has always bought dips of 10% or more.
From 3397.50 -10% = 3007.75
today's LOD was BELOW this 2953.25

Be careful of a govt Ramp UP of the market's at open tomorrow!!

This time MAY be different. This is not a normal crash. THis could be the beginning of the GREAT depression.

Take money out of the bank
Buy some food and water
buy silver coins
(close all long stocks on the next bounce if you still have some.)

Good Luck to all.

[JFR]

ES 5. The bleeding continues.

[JFR]

I posted this on the weekend.

SPY daily. Very strong pullback to the EMA 20. The market has been charging ahead, on hope and hype and a need to park the money somewhere, it seems to me. Also some "party 'til the bomb drops" attitude, methinks. Correction coming? Absolutely, imo. When? Don't know, but be ready. How much? Maybe just 10%. Global economy slowdown could trigger it. Coronavirus could be the culprit. Just in my opinion.

And now we are here. This is not doomsday for the market, as it needed correction, in my opinion. More decline coming? Dunno, but if it happens, bring on the value. Bargains galore.