08/26/2020 Market Recap

[Cobra]

Forget about double top, this bull shall have legs.

[Cobra]

SUMMARY:

A surprising uptrend day. A little late to recognize so but not too late so easy day.

NOTE:

N/A - explained how I'd know whether it's an uptrend day or range day here (viewtopic.php?f=2&t=4176&p=286404#p286404).

Right - called uptrend day here (viewtopic.php?f=2&t=4176&p=286409#p286409).

Right - reminded the pullback would be bought here (viewtopic.php?f=2&t=4176&p=286420#p286420).

Right - called breakout likely here (viewtopic.php?f=2&t=4176&p=286429#p286429).

N/A - reminded to watch EMA buy setup here (viewtopic.php?f=2&t=4176&p=286442#p286442).

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.

[Heck]

Great calls Cobra
Thanks

[Heck]

34.5 million households will lose utility shutoff protections

BEARYA ?

[Heck]

Red markets
Fed Powell’s Jackson Hole speech
Virtually Beyond Meat ?

[Heck]

QQQ SELLING < 293.54 edit

[Heck]

SPY Optimism Peak
https://tinyurl.com/y47dnlln

BEARYA

[Heck]

Relentless squeeze in $SPX and $NDX to ever higher highs and bears are capitulating left, right and center. Short interest at 15 year lows, asset manager index parked north of 100, the complete elimination of down days in August, in short: The perfect bear set up

SH