2023-02-17

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10:04:35 Pete	Exit ES 4166 for scratch. Lame #$%^ sellers. They still can't get it going
10:06:02 Pete	Need to watch out for those bullish hammeroids today
10:28:37 Pete	Sellers had the ball during that bearish cycle and they laid an egg. Now buyers will take a swing.
10:30:15 Pete	I am watching for a bullish hammeroid and a higher low.
10:32:16 Pete	This is NOT going to be a bloodbath. We can see that from the immediate bounce. Buyers are not going away. When the market deflects horrible news, it is a sign of buying. I believe long term money is being...
10:33:26 Pete	Long ES $4080
10:35:19 Pete	Exit TLT swing $101.70 that was gain of $1.78
10:35:29 Pete	TLT reversed
10:39:45 Pete	So now I have support at the low from last week, an immediate bounce in SPY, a bullish 1OP cross, a gap reversal in TLT and decent volume. Buyers have the ball and they should be able to get into...
10:53:29 Pete	This bullish cycle is half over without any progress on the part of buyers. It's "third and long" and they are likely to punt.
11:21:19 Pete	This bearish cycle could produce.
11:21:44 Pete	We did not get anything out of that bullish cycle.
11:26:31 Pete	Will exit ES on breakdown, but won't short until I see follow thru. Until then, expecting chop.
11:27:10 Pete	1OP is moving down with pace so new lod looks promising
11:27:36 Pete	TLT flat so no help there
11:46:45 Pete	After a nice drive, the bears were forced to punt. The bulls are pinned deep and they now have the ball in this defensive battle.
12:19:16 Pete	There's a reason that everything I teach you starts with the market. In my opinion it is 65% of the equation. When conditions change, you have to change. The days of 100 pt S&P moves are over. Until now we...
12:19:45 Pete
12:24:10 Pete	In 2021 we recognized the warning signs in Dec and we reduced swing risk on the long side. In Jan and Feb we were ready to short and we got more aggressive when we had D1 technical confirmation. For almost...
12:28:23 Pete	The good news is that when you do not have to worry about turning your screen on and seeing a 70 S&P overnight drop, swing trading can actually be much more fun and relaxing. Eventually this will transition into a...
12:34:05 Pete	Before Covid-19 you had to swing trade. It was the only way to make money. We were able to pick off some nice intraday stock trades, but the intraday ranges were tiny and most of the moves came overnight. That...
12:52:51 Pete	Exit ES 4060 20 pt loss
12:54:08 Pete	Lower high and a nice attack on the lod. We could breakdown here.
14:11:28 Pete	SWING TRADING MUST BE A PART OF YOUR GAME PLAN
16:13:06 Pete	When you do get on the wrong side of a trade on a day like this, remind yourself that the market is choppy and there is a good likelihood it is going to come back to your price... because it...
07:33:39 Pete
09:06:44 Pete	CLICK HERE TO WATCH TODAY'S VIDEO
09:26:36 Pete	My market comments today would be the same as yesterday. Same shit, different day.
09:27:52 Pete	We are testing the low from last week. If we have a gap and go with stacked reds and heavy volume I would respect it. TLT continues to drift lower and that is a market overhang.
09:39:34 Pete	Breakdown X2 has HYG. Low- and Low+ breaches. That is a sign of "risk off"
09:43:50 Pete	Bearish engulf (also red Key Bar) and new lod. We are testing the low from last Fri.
09:44:27 Pete	Monday is a holiday. Tues I will be out. I will post market comments Tues AM
09:45:24 Pete	It feels like we have the right back drop for a move lower.
09:49:57 Pete	Short ES 4066
09:51:28 Pete	I have weakness in TLT with a nice D1 breakdown (important because interest rates are the market overhang), I have a bearish 1OP cross, a red Key Bar and we are < the 5-day low
09:52:37 Pete	"Spank this monkey." Let's see what you've got.
09:55:01 Pete	Stop at entry. I have 7 pts of cushion so plenty of breathing room