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08/26/2020 Market Recap

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Cobra
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08/26/2020 Market Recap

Post by Cobra »

Forget about double top, this bull shall have legs.
spy.png

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Cobra
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Posts: 60077
Joined: Sat Feb 12, 2011 10:29 pm

Re: 08/26/2020 Market Recap

Post by 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.
2.png
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.

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Heck
Posts: 2535
Joined: Thu Nov 15, 2012 4:56 pm
Location: Lake Tahoe, Nevada

Re: 08/26/2020 Market Recap

Post by Heck »

Great calls Cobra
Thanks
Last edited by Heck on Thu Aug 27, 2020 8:05 am, edited 1 time in total.
Heck
Posts: 2535
Joined: Thu Nov 15, 2012 4:56 pm
Location: Lake Tahoe, Nevada

Re: 08/26/2020 Market Recap

Post by Heck »

34.5 million households will lose utility shutoff protections

BEARYA ?
Heck
Posts: 2535
Joined: Thu Nov 15, 2012 4:56 pm
Location: Lake Tahoe, Nevada

Re: 08/26/2020 Market Recap

Post by Heck »

Red markets
Fed Powell’s Jackson Hole speech
Virtually Beyond Meat ?
Heck
Posts: 2535
Joined: Thu Nov 15, 2012 4:56 pm
Location: Lake Tahoe, Nevada

Re: 08/26/2020 Market Recap

Post by Heck »

QQQ SELLING < 293.54 edit
Last edited by Heck on Thu Aug 27, 2020 9:23 am, edited 1 time in total.
Heck
Posts: 2535
Joined: Thu Nov 15, 2012 4:56 pm
Location: Lake Tahoe, Nevada

Re: 08/26/2020 Market Recap

Post by Heck »

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

BEARYA
Heck
Posts: 2535
Joined: Thu Nov 15, 2012 4:56 pm
Location: Lake Tahoe, Nevada

Re: 08/26/2020 Market Recap

Post by 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
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