09/21/2022 Market Recap

[Cobra]

Volume surged but might not be enough to signal a bottom (panic).

[Cobra]

I was almost convinced that today would be up huge here. Gladly didn't buy (In the past I'd rush in already).
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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.

[koolblue1413]

I think we will see my old friend 3750 very soon. I think now all the focus may swing to recession? And how bad! That should propel us lower for a retest of the June lows

[JFR]

SPY daily.

Down 1.74%, $6.70 on the day.

Many signs pointing south. CTM. MACD. MAs in correct order. Bollinger. A strong bear candlestick, outside bar.

Next stop 370, then 360.

Sure thing, huh? All-in short? Nah. The bulls might protest somewhat.

Tread carefully.

[JFR]

SPY 15 minutes. Extended hours.

Drifting south in the postmarket.

[koolblue]

... Conclusion : much lower prices coming but a small rebound first.