2023-01-09

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09:34:30 Pete	PRE-OPEN MARKET COMMENTS MONDAY – The up trendline that connects the low from October 13th to the low from December 22nd held and the market rallied up to the 100-day MA last Friday. This morning we are going to open...
09:34:36 Pete	Good morning!
09:42:13 Pete	Try not to get overly excited about a breakout above the 100-day MA. We barely had to move to get here. That means the cross is less significant.
09:50:18 Pete
09:51:29 Pete	Long ES 3945 full position
09:51:56 Pete	Added full position
09:53:08 Pete	So I have a breakout above  the 100-day MA, a breakout above the 50-day MA, we are > prior high, no gap reversal and 1OP bullish cross. I have enough good things working to go with a full position. Volume...
10:01:34 Pete	$3946 stop. That is a pt above my entry. I am going to see if I can find a couple bullish picks, check some of yours and get back to my projects
10:40:04 Pete	Raised stop $3955 for ES. Offering $3970
10:49:25 Pete	1OP getting a bit extended so looking to take gains if target not hit in 10 min
10:51:39 Pete	Exit $3967 $22 pt gain
10:51:54 Pete	No need to push it. I am happy with this gain
10:56:22 Pete	Again, 1OP told me what to do. I got long on the bullish cross. There was a small SPY compression, but it told me to stay long because the bullish cycle still had room to go. "Is this what you...
13:02:23 Pete	I am tempted to buy here. 1OP bull cross, but we saw one earlier, but it crossed back down. 100 day and 50 day holding well. We stayed pretty tight to the hod so that is all good.
13:04:38 Pete	Volume is OK, but candles are tiny. I don't sense we are going anywhere fast and I also don't sense that we are going to blow through the hod. That means my upside is fairly limited and that I have...
13:08:26 Pete	SPY is just below the VWAP and that is good. That will attract shorts who feel we are going to roll over. When they get trapped, we could see a nice release to the upside (the word nice is relative...
13:10:05 Pete	If I see red candles stacking - bullet dodged. Keep waiting and see if something starts to set up on the short side. I don't believe it will just because we are > MAs.
13:11:26 Pete	In the event of more red candles and a move farther from hod, I need to see a benign bullish cycle and a lower high double top. That would interest me on the short side.
13:13:18 Pete	Conclusion: I am still bullish and favoring the long side. I believe this bearish cycle is going to lure in shorts. On the bullish cross they cover and we will have a chance to get back to the hod. That...
13:16:46 Pete	When you know what to look for you can visualize various scenarios and devise a game plan. When you sit on the sidelines and watch the wiggles and jiggles, they mean nothing without context and analysis. When the move unfolds...
13:38:40 Pete	This drop will excite shorts and it is where I am looking for that bullish hammer. Any lower and we test the 50-day MA and we have drifted too far from the high. Still looking for possible long.
13:56:16 Pete	1OP crossed back down, but it could be ready to cross back up here. Volume decent. Still looking for a long here. The volume tells me we might get a move either way
14:25:29 Pete	Long ES 3943
14:26:46 Pete	We have a nice little base that has formed and 1OP just crossed positive. Looking for a move back to VWAP. During that move I would like to see some nice green candles to tell me there is a chance...
14:37:25 Pete	I am right on my stop. Know that I am ready to exit. I want this level right here to hold.
14:38:21 Pete	The recent key bars have been red and the volume came on the drift lower. Those are both bearish signs.
14:39:14 Pete	Exit $3935  for 8 pt loss.
15:08:58 Pete	We leaked right back down to the 50-day MA
15:44:11 Pete	LRSI never gave you a reason to buy. It went right from > 80 to < 20 and barely spent any time in between
16:07:12 Pete	Harry48 wrote: Question @Pete What are the parms that you recommended for LRSI?VIDEO ON LRSI
16:14:30 Pete	Superpantz wrote: Question Chicken or egg question: Does D1 event trigger/attract institution involvement (RS/RW) or does institutional activities trigger D1 events? or both?Earnings and interest rates move the market. News that impacts either of those will attract institutional trading/risk adjustments especially...
16:36:35 Pete	From May of last year if you strip out the nice rally in Aug and the drop in Sept, We have spent the rest of the time in a range and we are right in the middle of it. The...
16:36:58 Pete