Commentary

8/20/20 Daily SPY PSAR Threatened

I’ve been looking at Parabolic Stop and Reverse for a few years. That is the little green dots on the chart. It is tricky to code cleanly. The last break was July 24, which was a pretty good place to buy even though the general idea is to sell when that happens.

A lot of the market strength lately seems related to politics, specifically some kind of Fed put where they might even buy SPY to support the market, presumably somewhere below 300. Don’t know if some morons were expecting to see something in the minutes yesterday afternoon about it or if they were just worried about Thursday morning a little earlier than usual.

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