Market Analysis for The Week of 10/19

That Mother (fkn) Bar

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SPY 0.00%↑ QQQ 0.00%↑

In last weekend’s plan for Monday, I discussed the potential to have “Mother Bar Problems” this week. I suggested that it would be easier to find a tradeable low if we took out the 10/10 low first during this past week. We instead traded higher first, and “mother bar problems” were triggered.

In spite of the “mother bar problems,” intraday trading was absolutely amazing at times due to elevated volatility. The key to trading mother bars is to understand that trading will be bidirectional and attempting to hold an isolated directional position can be difficult to impossible.

I was out of town this past week, but we caught the Thursday short for quite nearly the entire day’s range and caught the Friday cash hours long from low of day as well. These two trades alone accounted for about as much as the entire week’s range.

Now that everyone else has caught on to the mother bar issue a week later, we are moving on.

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