2022-08-15

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09:30:00 Pete	PRE-OPEN MARKET COMMENTS MONDAY – The market has recovered more than half of its loss for the year and the price action the last few weeks has been encouraging. The duration and magnitude of the bounce has been excellent and...
09:45:00 Pete	Saudi's said they are going to ramp production to max. That is weighing on energy this AM. Should be good for pump prices
10:11:00 Pete	I would use caution here. We filled in the gap on the first attempt and that resulted in bearish hammer and we are starting to retrace the long green candle. We also have a bearish 1OP cross pending. I am...
10:27:00 Pete	We have given back that entire green candle. 1OP is in a bear cycle. After the rally last week everyone is bullish. Look but don't touch. Still too early. This cycle is producing selling.
10:57:00 Pete	To me the pain trade is on the downside. The early gap filled got buyers got super excited... we are going to pick up where we left off Fri. The volume Fri was not great and the action was program...
11:06:00 Pete	I still like the long side. Lots of stocks that have great D1 and M5 technicals. I am just a little cautious on what seems to be a very light day.
11:21:00 Pete	This feels like a decent entry point for longs. 1OP bullish cross. Support forming at a higher low and that support was tested and it held. In general, the market is not going anywhere fast today
13:05:00 Pete	This price action is very similar to what you saw Friday. Early bid check. Once the bid was confirmed, the market started to grind higher. There were lots of mini 1OP crosses and that is a sign that there is...
13:12:00 Pete	Compression near the hod. Benign 1OP bearish cycle. Very few long red candles. I would be looking for a good bullish cross here. No need to hurry, look stocks with good rel str $428 needs to hold and it should....
15:25:32 Pete
17:50:00 Pete	BTW, financials are stodgy stocks. They do not move much. The sector can run hot and cold, but there is NEVER a reason to chase those stocks.
17:55:00 Pete	As you are flipping thru stocks, add 1OP and look at the stock using that indicator. Just like with SPY, when it is moving and making nice swings, it will give reliable signals. Today most stocks had nice crosses early,...
17:59:00 Pete	Take a deep breath and know that the market and the stock will both still be there 30 minutes later. You can calmly evaluate both during the bear cycle. If both hold up well, your chances of a good entry...