Post-Market Report

October 13, 2021
Today’s Market Action
How The Market Moved
Screen Shot 2021-10-13 at 1.15.25 PM.png
Confirmed Trade Opportunities
Quick rejection of 4355 key level w/ drop to demand zone
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The stock's premarket rally stalled at the open when attempting to cross the 4355 key level, which led to a strong drop in the first 45 minutes of the trading day. A clear entry did not present itself, but if you were bold/risk-tolerant enough to take this trade at cross of 4355 off of analysis alone, you would’ve made out lucky and left with good money.
This 35 minute trade to the demand zone profited 60% - 175% depending on chosen contract expiration from 5-day to 0-day
Double Demand formation at cross of trendline at 1 hour mark
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The stock found support right under the marked trendline from premarket. It then created intraday demand within a the long-term demand zone marked a few days ago to cross back above trend (therefore showing clear bull strength). It also happened right at the 1 hour mark of the trading session. This was the clearest and most profitable entry opportunity on the day.
This 3 hour trade to the 4355 Key Level profited 39% - 155% depending on chosen contract expiration from 5-day to 0-day
Bulls respond strongly to trendline test at 2 hour mark
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At the retest of the trendline to validate upward momentum, bulls responded strongly and didn't let it drop a tick lower. This also happened at the 2 hour mark, therefore validating an entry with a stop loss below trendline.
This 2 hour trade to the 4355 Key Level profited 30% - 117% depending on chosen contract expiration from 5-day to 0-day
Bulls defend VWAP for a rally at 3.5 hour mark
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Bulls defended the VWAP line by creating intraday demand right at the 3.5 hour mark for a quick rally up to the 4355 key level. This one is self explanatory and way an east trade to spot in real-time
This 2 hour trade to the 4355 Key Level profited 26% - 117% depending on chosen contract expiration from 5-day to 0-day
Action on Notable Stock Mentions
Considering that SPY/QQQ was on high alert today with the FOMC meeting being a major factor in overall market movement, there were no other individual stock names on the watchlist today.
Tomorrow’s AH/PM Prediction
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The buyer action from the bulls today evened the score between bulls and bears in the short term. There now is currently just as much demand support as there is supply resistance, therefore making it truly hard to tell. We are now at the point where one has to substantially take over and can expect some interesting price action within the coming days.
Tomorrow’s current zone looks to balance out price right within the pattern structure. I wouldn't be surprised if it does just that. However, considering the bulls have momentum right now and have put pressure on 4355, I could also see a breakout above it with a rally above the downtrend line. But as we know, bull traps are common with this line so there is a need to play cautiously.
Another possible outcome would be a drop reaction from the supply zone to cause price to dip below bottom trendline again. In that case, based on current activity, we should look to consider that a bear trap and take it long.
Either way, real time action will have to be watched closely to catch the move. It likely will happen fast and rapidly.
I’m done reading.
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