Cobra's Market View

Strong bear follow through tomorrow is needed, down a single day doesn't mean anything and I don't expect bears to have a good follow through tomorrow. In fact, about 71% chances up tomorrow. Let's see.

Called the low was in wrong, didn't see the later afternoon selling.
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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.

SPY daily, PnF. ''Steady as she goes.'' Well, not quite. Down 1%. Bulls wondering if the trend up will hold. Bears hoping it keeps sliding down. My bias? None. I would not mind seeing more down, setting up value plays. More up? OK also, especially for daytrading and scalping. Swing trading, holding overnight, is a bit scarier, but ya dance with the one that brung ya, the chart. Just imo.

SPY 15. Strong close down. Down some more before the pre-market hours. The bulls might be getting a bit worried.