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ES 4250-4300 Resistance - Pullback, then up into end of AUGUST


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#141 dTraderB

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Posted 18 August 2022 - 07:12 PM

This has been a great week, so far, one day to go!  A TRADER's week as the market was hectic and volatile but also the opposite many times during each day. 

 

I have so far achieved my objective of a GREEN AUGUST, a rarity since AUGUST has been a red month for me more than 75 %

 

But, still 9 trading days in August so I will continue to limit RISK. Easier said than done, so far it has been good, but I did play it too safe in a few trades and 

came out with reduced profits, e.g. that last TESLA PUT trade

 

Closing update: 4295-4305 was resistance today, 4270 support #ES_F played ping pong all day making the trip *3x*. Bears need sharp rejection here to keep 4235 in play. 4305 clears, we see to 4316, 4340.


#142 dTraderB

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Posted 18 August 2022 - 07:13 PM

Daytraded AAPL PUTS yesterday and today, scalping, not wanting to hold large positions overnight. 

Mainly NQ daytrading

 

 

 

This has been a great week, so far, one day to go!  A TRADER's week as the market was hectic and volatile but also the opposite many times during each day. 

 

I have so far achieved my objective of a GREEN AUGUST, a rarity since AUGUST has been a red month for me more than 75 %

 

But, still 9 trading days in August so I will continue to limit RISK. Easier said than done, so far it has been good, but I did play it too safe in a few trades and 

came out with reduced profits, e.g. that last TESLA PUT trade

 

Closing update: 4295-4305 was resistance today, 4270 support #ES_F played ping pong all day making the trip *3x*. Bears need sharp rejection here to keep 4235 in play. 4305 clears, we see to 4316, 4340.

 



#143 dTraderB

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Posted 18 August 2022 - 07:16 PM

Yeah, looks a bith frothy, and too many chasing it....

$AAPL Could Apple's epic run be coming to an end?
The stock has it's worst performing month on deck with only a 34% win rate in September
 

 

Daytraded AAPL PUTS yesterday and today, scalping, not wanting to hold large positions overnight. 

Mainly NQ daytrading

 

 

 

This has been a great week, so far, one day to go!  A TRADER's week as the market was hectic and volatile but also the opposite many times during each day. 

 

I have so far achieved my objective of a GREEN AUGUST, a rarity since AUGUST has been a red month for me more than 75 %

 

But, still 9 trading days in August so I will continue to limit RISK. Easier said than done, so far it has been good, but I did play it too safe in a few trades and 

came out with reduced profits, e.g. that last TESLA PUT trade

 

Closing update: 4295-4305 was resistance today, 4270 support #ES_F played ping pong all day making the trip *3x*. Bears need sharp rejection here to keep 4235 in play. 4305 clears, we see to 4316, 4340.

 

 



#144 dTraderB

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Posted 18 August 2022 - 07:21 PM

 
Data for Thursday won't be published until this evening, but it does not take much weakness in the HY Bond A-D data to turn its McClellan Oscillator negative. That would be a bearish sign for the stock market.
---
Not the HY BOND A-D dat but NYSE --- Slightly up
 
McClellanOsc_1366.gif
 

https://www.mcoscill...t_breadth_data/

 

SPX almost flat

https://www.marketin...llan-oscillator



#145 dTraderB

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Posted 18 August 2022 - 07:25 PM

Most likely... but OPEX FRIDAY can be wild.. and then finish FLAT!

 

BEARS had a great opportunity to smash the ES 4250 support but failed

BULLS grabbed that chance to gradually take control and then a nice move up near the close

 

 
 
 
 
 
hXFkyyS0_normal.jpg
 
$SPY $SPX - Plan 08/19 I believe today's price action confirmed that we aren't looking at a market reversal but just at a short-term pullback before heading higher As long as the price will trade within this range I believe we are headed south for W-C of the Zig-Zag
 
 
 
 
 
hXFkyyS0_normal.jpg
 
$SPY $SPX - Plan 08/19 I believe today's price action confirmed that we aren't looking at a market reversal but just at a short-term pullback before heading higher As long as the price will trade within this range I believe we are headed south for W-C of the Zig-Zag


#146 K Wave

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Posted 18 August 2022 - 09:06 PM

The usual speculation suspects are not having a good go of it...

GME got hammered both during the day and after the close, and BBBY absolute destruction... down nearly 2/3 in a little over a day of trading.


Now looks like they're going after Bitcoin overnight...


With Apple teetering right at the edge as of the close, tomorrow may be interesting...

Edited by K Wave, 18 August 2022 - 09:13 PM.

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#147 redfoliage2

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Posted 19 August 2022 - 03:41 AM

Breadth Topped.  

https://stockcharts....id=p06617756805

 

Big down moves in price will follow soon.

Let's see if all hell to break loose Friday .....................



#148 K Wave

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Posted 19 August 2022 - 05:04 AM

Bitcoin turning into full hammering.....


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#149 K Wave

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Posted 19 August 2022 - 06:04 AM

Apple gapping 173 pre-market...if this sticks, the avalanche may have just been triggered...


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#150 K Wave

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Posted 19 August 2022 - 06:10 AM

GME 4 hour looking like the last gasp thrust before the inevitable decline towards $5 may be in...

 

And after the way Ryan Cohen just gave it to the BBBY "Apes" with no lube at all, anyone continuing to hold GME will get what they deserve....

 

gme.png


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy