Pre-Open Commentary | Aug 23, 24
Condensed Insight Before the Bell.
Key takeways:
Yesterday’s correction haven’t changed a thing in the midterm metrics.
As to intraday we can see a bit of panic in retail positioning (red arrow down in trendphase) which means we definietly do not want to trade in that direction (short), at least not on a day when retails switch their sentiment. We simply do not want to follow crowd when it changes their sentiment because at least half of the time it’s a trap cycle.