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05/14/2021 Market Recap

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Cobra
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05/14/2021 Market Recap

Post by Cobra »

Strong follow through so bears are half dead, let's see whether bulls can make an all time high the coming Monday which if indeed then bears are really dead. A narrow range bar on Monday might give bears some hopes.

Why better an all time new high coming Monday? Because usually a rebound from a bottom uses less bars to recover all the previous losses. In our case, it was 3 bears bars down, so better bulls take 2 bars to recover all the losses, obviously bulls didn't make it today but if Monday bulls can make a new all time high then 3 bear bars vs 3 bull bars, bulls advance more then still bulls are stronger.
spy.png

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User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 05/14/2021 Market Recap

Post by Cobra »

5.png
Called uptrend day in time, the rest of the day was then easy.
viewtopic.php?f=2&t=4597&p=294578#p294578
viewtopic.php?f=2&t=4597&p=294580#p294580

Spotted the exhaustion bar right.
viewtopic.php?f=2&t=4597&p=294595#p294595

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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.
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