Bullish but Nervous

Smart short coverings have tried to get out on Thursday instead of holding till Friday. And the spikes are not as high as they used too.
Great analysis. I hope it holds.

thanks uncle peter.

One would think there needs to be a correction before we could end the year at highs and strong. Unless SPX 6200 is in play I would like to see markets correct in last week of September into mid-October. Just seems too much too soon right here.

the fed funds rate typically follows and lags the bond market which had a gap of about 2% so 0.5% was nothing to write home about.

So Market Should Go UP , Unless it goes down. Hm. Youve been a stuedent of the markets for decades now and still miss focus on things like whos long and whos covering shorts. BTW a majority of Shorts are not COVERING during GLOBEX

This channel is crazy good wow very informative

Excellent, old business vs new business

AAPL 16 mil shares sold in the last 10 mins of Friday’s session. EOQ rebal, but why wouldn’t they have used a VWAP over the next week? Instead they took a huge hit and triggered selling momentum algos. Seems fishy, as if someone knows something. Cook retiring on Monday?

Peter. On the hourly ES chart, which I trade myself, I can see Bull Flag develped going the weekend. I am bullish for the next week for both GC and ES. I do level 3 options on futures and have 5 in play as I write this on Saturday. Doing fine so far.

Biggest lesson i learnt in 2023 in the stock market is that nobody knows what is going to happen next, so practice some humility and low a strategy with a long term edge.

"inexpensively as possible" equals $20 per month? I question the part about "as possible"

Excellent video here full of important information.

Fantastic...you had me at esoteirc..no need to pre-apologize..I love every segment TY!🥰

EXCELLENT ADVICE. Master ONE set up at a time. Keep it very simple so you can focus on only taking the highest odds opportunities. Get very good at it before you even think of learning a second strategy. WELL SAID Peter.

Love the short on cvna. I'll be selling credit spreads on it

Hourly market action you described fits exactly what I think about the market: I'm waiting to see how it peters out as the coiling formation contains a lot of energy that could propel the market up in a big way. But I like to see the rocket taking off ...

thamks

I sold all my shares i dont trust next week 😂

Thank you, Could you teach market profile?

Love what Peter shared for the Mailbag

Thx Peter

Excellent, Thank you!

The new MP background color is Great!!

Thank you Peter. Cashing tickets with you for about a decade. $$

The title said it all of the market in a whole in the context since FOMC Meet. Thanks Peter! Have a Fantastic weekend.

I found your profile charts were not clear on a white background I use black like your sector charts.Not a complaint just answering your request for feed back.Thank you for sharing your knowledge and experience.

hey Peter it looks like the back ground color is very close to the profile blue. I dunno maybe try gray?, just saying no real biggy

but the info is awesome as usual. thanks

There is no better overall trader than Peter ( I say that after following him for a decade and being consistently profitable ), he is the man.

Hard to see. Still need better contrast on MP.

you know in 1998 if you doubled the prev weeks wic it marked the top in the nasdaq at a simlar spot in the structure, puts price at a interesting spot next week using that calculation

If you want to make your charts pop and very easy on the eyes use a black background with white text and yellow / red charting info...JMHO

Thank goodness for 2x replay speed

options contracts have to be covered, exercised, or closed out during regular trading hours, so the overnight was not short covering, I’m baffled why you don’t know that. More likely it was done by manipulators who could drive the price action up on lower volume knowing they would force short covering the next day.

How do you tell the difference between old and new business?

@therealshadowtrader -- Great show, thanks! Because you asked, the contrast in the larger Market Profile chart is still very hard to see, particularly in the video, but also in the PPP report as well. Think of good contrast colors. And thanks for asking.

I think the Market Profile colors are good if the look you were going for was a refrigerator from the 70s! :)

Absolutely stunning Old Chap! Keep up the jolly good work my boy!
However, you forgot the most important point in the profile discussion. VALUE, which is all that matters, was TOTALLY LOWER on Friday. Highs and lows are far less important than VALUE. As you mentioned, those silly highs were nothing more than shorts panicking. And of course, the VPOC also migrated lower on Friday. All in all, a very unimpressive showing by the bulls.

Bearish to confused back to semi bullish ....... just hold and add the dips to.screw the tax man .......

Always the best!

Thanks Peter

In terms of color scheme I really prefer dark mode with green, yellow and red foreground colors. The improvement you made was better for light mode though.

QUESTION: Why talk about ES futures and not SPY?! Thanks!

Any thoughts on utilities being bullish due to data center buildout? They don’t seem like your typical utilities any more!

Peter, I think the white is better, it adds contrast and makes it easier to see.

Colors on Profile are hard to see.

excellent as always, thank you

Actually Utilites are now an AI trade due to data center power demand so its quite bullish for market. Utes are not what they used to be