2022-08-26

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09:30:00 Pete	PRE-OPEN MARKET COMMENTS FRIDAY – Trade What You See – Not What You Feel. My indicator is telling me the market will go higher....Fed Chairman Powell will speak at Jackson Hole at 10 am ET. The market is waiting for...
09:31:00 Pete	My morning post was pretty much an article. My heart is telling me the market will go down, but 1OP is telling me we go higher. We are on a bullish 1OP D1 cross. I need to trust 1OP. It...
09:31:23 Pete
09:31:49 Pete
09:36:00 Pete	Look but don't touch (unless you are taking overnight gains). There is no reason to take trades ahead of Powell.
09:49:00 Pete	1OP works for stocks short term and long term. I was just flipping charts and noticed an excellent bullish div. Compression at the upper end of the range during a big drop in 1OP. The next buy signal should be...
10:00:00 Pete	After a stock or SPY goes thru a benign cycle, the next one is likely to produce.
10:02:00 Pete	we have the bearish cycle and a nice long red candle.
10:10:00 Pete	LOL. We hate it... sell, sell, sell. We love it... buy, buy , buy
10:11:00 Pete	I hope the vast majority of you resisted temptation.
10:12:00 Pete	I would like to see a benign 1OP bear cycle. That would get me bullish. we had nice strong buying late Thurs and the shock of negative statements will be over and buyers will return.
10:29:00 Pete	This action reminds me of the Trump days. We are going to impose tariffs on China. Xi is a good guy, China has taken advantage of us,
10:31:00 Pete	Up trendline broken H1 and looking more like a bear flag
10:32:00 Pete	Hari nailed it yesterday. Love the comment regarding rally Thurs. Lure them in and slam the door.
10:37:00 Pete	UVXY on a path higher
10:43:00 Pete	What do you do here? If you have stocks with weakness, good to short. With /ES you have to take small size. As long as 1OP bearish and no compressed candles, stick with it. It is very hard to ride...
10:55:00 Pete	Apart from one very long green candle, the price action is very bearish. If you have been patient... good for you. Here is the set-up we want. During this bullish cycle we want a very weak bounce with tiny overlapping...
11:05:00 Pete	We are testing the low of the week.
11:22:00 Pete	This move looks like it is destined for the 100-day MA. It won't get there today, but next week it should test it. Bounces are very brief and shallow.
11:53:00 Pete	We have support starting to form here. 1OP has been flat, but we are about to get a small bullish cross here. Your mentality should be to take gains on shorts and to wait for a bounce. On that bounce,...
12:32:00 Pete	1OP does what it does. You would think that it would have some nice movement on a day like this, but it is flat as a pancake since that bear cross. People often say that they know how it is...
12:34:00 Pete	I would like to see it move higher. If the market responds great, if not, that is ok too. I can interpret either, but when it is flat like this it is not of any use.
12:39:20 Pete
12:44:00 Hariseldon	From the desk at GS: The number one incoming question this week: Was that dip enough? All clear to buy the dip (BTD)? It was not enough and is not clear. We are entering the worst seasonal period of the...
12:48:00 Pete	Love that stuff. Especially the inflows and outflows. We want to follow the smart money and we can see those inflows in the daily chart. That is why all we need to do is to follow price. They can't get...
14:33:00 Pete	This is likely to be a small bounce. This is a selling climax and we have a bullish 1OP cross. Nothing you would buy. Any decent bounce will set up some put lottos.
14:38:52 Pete
14:39:00 Pete	That 1OP spike was so huge at the start of the day I had to zoom out to see it. Again, not suggesting you buy. Just want to make you aware of a chart pattern. We would all like a...
14:48:00 Pete	Question: In the past post Fed meetings (I know Jackson Hole isn't the FOMC), you've said the real reaction is the day after the meeting. This morning, you posted an article saying you were bullish. After today's heavy selling, would...
15:02:00 Pete	SPY D1. When you attack support or resistance, you want to do it with a full head of steam like this. I wrote about this in the Major moving average article. Same with trendlines. You want to obliterate it. Then...
15:04:00 Pete	1OP bear div and spike. bearish cross pending. A bounce would sure be nice even if it is a solo
15:06:00 Pete	Never a good sign when SPY is at the top of IceCold search
15:51:00 Pete	Zander wrote: "Likely stems from a deeper issue where I have extreme trust in my analysis of individual stocks but very little trust in my market thesis beyond the next 15 minutes. My thesis all week has been that we...