Pre-Open Commentary | Aug 7, 24

Condensed Insight Before the Bell.

Key takeways:

After yesterday’s nice intraday bullish action we have some midterm signals and clues. Which I have to say is a bit surprising - this kind of bullish signal rarely comes after up move session. But this is how options market acted.

So we basically have a signal (from midterm TrendPhase) to close all midterm shorts (if any left) and establish new bullish position, for me it’s 1/2 of the size.

It also makes an update to longterm position, basically adding to my long.

Intraday: