About Traders Path

Peter's Daily Update September 13th

Good Morning,

Happy Friday to all! We had some crazy news driven action yesterday where we saw huge jumps up and then huge pullbacks on China trade news and rumors. At the end of the day most of the indices were left with dojis and spinning tops on the daily which show us indecision. Overnight we got some news out of China that the Chinese may be offering some more concessions and good will gestures in the trade war, and the market is liking that news so far, and we are making new all time highs here in the premarket. All of this seems like good news, but we are into an area of major resistance here. The choppy action yesterday left me looking at a lot of broken charts in my scans, and as a result there is not much to work with as far as a standard watch list today. I will be focused on reversal setups today. My reversal list will be posted in the watch list channel later this morning.