Pre-Open Commentary | Oct 24, 24
Condensed Insight Before the Bell.
//Midterm Sentiment//
(days)
TrendPhase: Bullish (Sep 17)
Orderflow: Bearish (Oct 24)
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(weeks)
Positioning: Neutral/Bearish (Sep 27)
Dealers: Bullish (Oct 21)
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(months)
Seasonality: Bullish (Oct 1)
VIX: Bullish (Sep 18)
//Longterm//
(Years)
Great Cycle: Bullish (since March 2020) until 2027/2028Intraday TrendPhase: Neutral
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//Actionable Levels//
Resistance: 5875
Support: 5789Key takeways:
Orderflow bearish signal. Closing my midterm long position. I am considering initiating small short but might wait for intraday confirmation. Not sure yet.
Yesterday’s Intraday Trading Recap:
Option tools provided only small supportive flows during decline. 5-10 point scalps at best. These were not the perfect setups though. More on that in “Trading Options” package.
On futures/internals front just one clean setup (visible absorption) at the first part of session and the second one was hour before close.
Notes/Observations/Issues:
Pre-Open Commentary distills key takeaways from the analysis of the London GEX and Structure posts and also serves as my personal journal (sort of).