TiTTs – 29 August 2022 Commentary

This is using TiTTs on the 29 August 2022. Before the market opened at 9:30 am ET, the market was bearish and it pulled back in the first minute. As previous Friday was a very bearish day and it was a market crash, this was a follow through on that bearishness. But after the first minute, the bulls came in to buy the oversold condition and the /RTY reversed back up.

On the chart below, we have marked the longer term signal and also the shorter term signal. When both are aligned, we can take the trade with confidence that we have a high probability of taking a profit.

The chart also shows the potential reversal zone at the 55 SMA and also at the ATR Trailing StopLoss.

TiTTs trading system with market internals 29 August 2022 — Chart 1: 29 Aug 2022 – 1 minute chart showing the Longer Term signals and the Shorter Term signals

We continue to comment on the trades using TiTTs. While the Market Internal signals represent the overall market, they are a useful guide and the most important signals are the LongTide and ShortRipple under studies.