Pre-Open Commentary | Oct 30, 24 (GDP)
Condensed Insight Before the Bell.
//Midterm Sentiment//
(days)
TrendPhase: Bearish (Oct 30) ?
Orderflow: Bullish (Oct 28)
------------------------------
(weeks)
Positioning: Neutral/Bearish (Sep 27)
Dealers: Bullish (Oct 21)
------------------------------
(months)
Seasonality: Bullish (Oct 1)
VIX: Bullish (Sep 18)
//Longterm//
(Years)
Great Cycle: Bullish (since March 2020) until 2027/2028Intraday TrendPhase: Neutral/Bearish
------------------------------
//Actionable Levels//
Resistance: 5888
Support: -Key takeways:
Interesting data today. As you can see, suprisingly, midterm TrendPhase turned bearish. But I marked it with “?” sign. Why? The signal is simple, because yesterday sr1 moved below zero gamma and today sr1 is still below zero gamma + it is lower than yesterday’s sr1 it is bearish midterm signal. So what’s the problem? Well, the problem is today’s sr1 is just like 0,2 point lower than yesterday’s sr1. So very very close. That is why I am giving “?” sign here. But that is enough for me to close my swing long position. I am not going to risk it.
That also means intraday trendphase is neutral/bearish, but again, same situation as this one is simply generated by midterm signal.
Worth mentioning, yesterday’s internals were red all session while market going up. Adds to bearish scenario for today.
Yesterday’s Intraday Trading Recap:
Some regular trades to the short side with pretty good locations on options quad screen.
Orderflow bullish setup from yesterday:
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).