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DTs Pre Market Prep

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24th August



I'm running out of levels. So we are through the 1946 level which wipes out the years gains. Below I'm targeting 1860 and then 1790.25.

The question today - will we carry on down or not. Either way it could be violent.



Here's what we've done overnight. A gap down and then the bottom fell out of the market yet again. A 50 point overnight range! I'm looking to see what happens if we get back to 1946 but otherwise I have very little to play off.

As the futures are way down and the underlying stocks have not traded yet - I would be very cautious into this open because that balance needs to be addressed.


Weekly Numbers
Range 1968 -> 2103.75
Value 2060.25 -> 2027.25
S1 - 1926, R1 - 2058.50

Daily Numbers
Range -1978 -> 2022.25 / 2029
Value - meaningless on a day like Friday
Globex - 1911 -> 1964.75

Settlement - 1971.50

Long Term 2126.25, 2102.50, 2073.50, 2056.75, 2023, 1992.25, 1946.25, 1860

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25th August

Well - yesterday was an interesting day.

I'm not trading today - this is not really the sort of action I like to trade. It's not predictable from my perspective. I am going to let it settle down.

What I am doing is scaling into some long term positions on the way down. We've not had much of a buying opportunity for ages.

For those of you that choose to trade today. Best of luck.

Cheers

Pete

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26th August

Still waiting for the markets to return to normality before day trading them.

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How long you reckon? I'm hoping in a day or two. On side lines as well.

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PeakGrowth View Post
How long you reckon? I'm hoping in a day or two. On side lines as well.

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I would guess at least the end of the week. I don't mind the break to be honest - and I'm sitting on some cash so the opportunity to get into longer term positions will more than make up for the lack of day trading.

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31st August



Back at it, although it still does look very volaltile based on the overnight action.

We have had our bounce back up but stalled at the 92.25 level. So I'm looking to see if that holds for more downside or if we can break up and carry on up into the old range - up through 2023.



On a weekly basis we see the main distribution is below 1950, so as we head down, I'm looking for potential support there.



If we do break 1950, then my last line in the sand is 1934.50 which is basically the low of the start of the smaller range sessions we had later in the week.

So wary of the volatility but I think we are at an inflection point with the level just above us.

Weekly Numbers
Range 1831 -> 1992.25
Value 1870.75 -> 1947.50
S1 - 1924.50, R1 - 2061

Daily Numbers
Range -1967.25 / 1971.50 (day) -> 1991 (day) / 1992.75
Value - 1976.25 -> 1984.25
Globex - 1959.25 -> 1987.75

Settlement - 1989.75

Today Only - 1950, 1934.50

Long Term 2126.25, 2102.50, 2073.50, 2056.75, 2023, 1992.25, 1946.25, 1860

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September 1st

We still have low liquidity. So it's still volatile and I'm still not too bothered about trading this action.



Yesterday we had


Quoting 
We have had our bounce back up but stalled at the 92.25 level. So I'm looking to see if that holds for more downside or if we can break up and carry on up into the old range - up through 2023.

So far it looks like that 92.25 level wants to hold and we've broken through the 46.25 level overnight.



We also had 1950 as a line in the sand yesterday because below that puts us in the main distribution from last week. So a traverse to the opposite end is on the cards.



And this is what makes today interesting. We maintained above 1950 yesterday and so the the drop below our levels is all overnight.

So into the open, I'm looking to see if we get a snap back from this overnight move or if it can be sustained. There's a lot of emotional trading going on and the media isn't helping.

So I'll be watching how the stocks do into the open - if they don't follow the move down in the futures, or if it's just a quick spike down on the stocks in the first 30 mins and then buyers jump in, that will make it interesting.

Weekly Numbers
Range 1831 -> 1992.25
Value 1870.75 -> 1947.50
S1 - 1924.50, R1 - 2061

Daily Numbers
Range -1959.25 / 1962.25 (day) -> 1983.75 (day) / 1987.75
Value - 1966.75 -> 1976.75
Globex - 1931 -> 1966.25 -

Settlement - 1969.25

Today Only - 1950, 1934.50

Long Term 2126.25, 2102.50, 2073.50, 2056.75, 2023, 1992.25, 1946.25, 1860

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2nd September



The question yesterday was whether we'd have a pop up off the open as the futures/stocks sorted themselves out. We did get that but we didn't get close to closing the gap. I'm still not too interested in trading this though.



We do have an area 46.25-50.00 that has the potential to act as resistance and gives us some direction for the day. So eyes on that area.



Most interesting is that we've taken back some of the losses from yesterday in the overnight session. So yesterday the sky was falling and today it's spring again. We can see that the overnight session is within yesterdays range, so I'm going to wait for us to test the extremes from yesterdays day session as I think that despite the 46.50-50.00 hurdle above, I think if we can pop yesterdays range, we may well close the gap and end up back at 65.

Weekly Numbers
Range 1898.75 -> 1987.75
Value 1927.50 -> 1987.50
S1 - 1924.50, R1 - 2061

Daily Numbers
Range -1989.75 -> 1939.50
Value - 1914.75 -> 1933.75
Globex - 1907.25 -> 1939

Settlement - 1916

Today Only - 1946.50-1950

Long Term 2126.25, 2102.50, 2073.50, 2056.75, 2023, 1992.25, 1946.25, 1860

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3rd September



Still no overall direction in the market but it does appear the range may be narrowing. Still high volume, volatile days.



We still have an eye on the 46.50-50.00 level. That's where we are sitting right now. I would like to see us leave that area and re-test it for an extended move.



We've had a little pop up overnight, and we can see that below us at 1940, the high from Tuesday, so also looking for that to hold on a move down, again to see a little more one sided trading to the upside.

Still, has to be said. It's still a very risky market.

Weekly Numbers
Range 1898.75 -> 1987.75
Value 1909.25 -> 1955.75
S1 - 1924.50, R1 - 2061

Daily Numbers
Range -1907.25 / 1916.25 (day) -> 1948.25
Value - 1922.25 -> 1935.75
Globex - 1944.25 -> 1957.50

Settlement - 1947

Today Only - 1946.50-1950, 1940

Long Term 2126.25, 2102.50, 2073.50, 2056.75, 2023, 1992.25, 1946.25, 1860

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4th September



As per yesterday, the range still appears to be narrowing, so barring any shocks in the Employment numbers, it looks set to be a relatively sedate day.

Yesterday, we saw less volatility and higher liquidity (aka market depth). We also saw a fail at the overnight high. In addition, the cumulative delta has been quite useless (for me) in this volatile period but was a good bias indicator yesterday. All that adds up to the potential of normal liquidity returning soon. So an eye on all that and the vix, so we can make the adjustments as it happens.




On a weekly basis, we are in the middle of the major distributions from both this week and last. I'll be keeping an eye on the lower traded area at 42.50.



There was a late pullback to 57.25 last night (just above developing weekly value high), so that's a line in the sand but basically, it's a narrowing range, so I am going in with no bias. I'll be looking at pre-market volume profile as well as the usual levels to key off.

Weekly Numbers
Range 1898.75 -> 1987.75
Value 1912.25 -> 1956.75
S1 - 1924.50, R1 - 2061

Daily Numbers
Range -1942 (day) -> 1973.50
Value - 1946.75 > 1963.25
Globex - 1928 -> 1949.25

Settlement - 1946

Today Only - 1942.50, 1957.25

Long Term 2126.25, 2102.50, 2073.50, 2056.75, 2023, 1992.25, 1946.25, 1860

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