2022-08-04

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09:30:00 Pete	I don't have much to add in the way of market comments. Yesterday we had a light volume rally and I view that as more of a sellers boycott than anything else. Program driven. Those types of gains can easily...
10:12:00 Pete	No rush. Market not going anywhere. Might as well see what if anything this 1OP bear cycle produces. Energy is a weak sector
10:43:00 Pete	With what I consider to have been a weak rally yesterday and with 1OP spiking early, best to just wait to see what the bearish cycle was going to produce. I am able to salvage part of the video. I...
10:52:00 Pete	We have a nice long green candle. Is it a solo? We'll see. If we hold the high and we don't retrace it in the next few bars, it will be legit and support will start to form. If it...
10:58:00 Pete	We have follow thru on the long green candle. You can start to scale into longs.
11:00:00 Pete	put a little on and add on a bullish 1OP cross provided lod is still intact
11:33:00 Pete	We have a bullish 1OP cross and a higher low double bottom. This bounce has lasted more than 30 min and I believe we go higher.
11:36:00 Pete	You can see how the halfway point on the long green candle off of the lod has been preserved. I had to re-record the second half of the video. XOM was my short pick of the day and AMD was...
11:37:00 Pete	“Very low odds trading environment. Be super selective. Trade smaller size and reduce trade counts.” This is what Pete would be saying next week.
11:41:00 Pete	We have a small downward sloping channel that is forming M5. See if you can spot it.
11:54:00 Pete	Double bottom higher low, bullish cycle, brisk buying off of retest. All looks good here for longs
11:56:00 Pete	When that red candle M5 was instantly gobbled up, that was a great sign for buyers. The bid has been confirmed and that was an aggressive move. We aren't off to the races on a day like this, but we...
12:01:00 Pete	Bullish markets open on the low and close on the high. The difference today is that it took longer to confirm support. That is a sign that the selling pressure is a little heavier and that buyers are not quite...
13:33:00 Pete	Tomorrow is the last big economic report for a few weeks and earnings season will start to taper off. Hopefully we get some nice price action after the number. The garbage you are seeing today is typical of what you...
16:32:00 Pete