03/25/2021 Market Recap

[Cobra]

Told you the chart doesn't look bearish. With today's bullish reversal bar (gap down, new low but close up), at least 51% chances the low was in. Maybe it's a rising wedge here, we're heading to a new all time high first before the next round of pullback?

[Cobra]

Called the low was in very late today as I wasn't sure anymore. The afternoon selling finally stopped.
viewtopic.php?f=2&t=4520&p=293141#p293141

I wasn't sure whether it's a lower high. It's just a practice because I've been much more sensitive to the higher low often forgot the lower high so need more practices.
viewtopic.php?f=2&t=4520&p=293144#p293144

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.

[JFR]

SPY 15. There is no quit in the bulls.

[Cobra]

SPY 15. There is no quit in the bulls.

2021-03-25_14-06-57.png

A trend reversal should take time when more and more people are convinced gradually so not that easy.

[JFR]

SPY 15. There is no quit in the bulls.

The attachment 2021-03-25_14-06-57.png is no longer available

A trend reversal should take time when more and more people are convinced gradually so not that easy.

Certainly not that easy to discourage the bulls.

Price seems to be hanging dangerously on the EMA 20. But it found volume support.

There was a temporary trend change, as defined by the EMA 20, last September, and again in October, and some smaller pullbacks after that. Just another pullback this time?

I don't think the bulls are through. But IWM is looking like a bear. That gets one's attention.


SPY

IWM

[Cobra]

Typical broke day low a little bit then rebound. Not sure whether the range low was in or not. I'm quiet today because I see no clear direction.

[Cobra]

Double bottom, maybe the low was in.

[Cobra]

Members only update at 3:40 pm
http://www.cobrasmarketview.com/2021/03 ... ay-update/

[Cobra]

Members only update at 3:50 pm
http://www.cobrasmarketview.com/2021/03 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Monday looks like: https://stockcharts.com/public/1684859/ ... /533449377

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449377