Daily Market Analysis
2022-10-18
Review our intraday commentary to learn how we interpret price action and build a market narrative.
Drag the blue slider to reveal the day's price action. Dots on the timeline represent comments and can be clicked. View the table below for all market-related comments and annotated charts (including those from after hours).
Abbreviated Comments View all
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| 09:46:49 Pete |
We have a bearish 1OP cross and a new lod. Let the market come in |
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| 10:01:42 Pete |
Bulls want to preserve half of this gap up and they do not want to see long red candles. The move down needs to be choppy with lots of retracement/overlap. Tiny bodied candles and tails under body are signs of... |
| 10:04:51 Pete |
Bears want to preserve the long red candle from today. They want nice steady action during the gap fill and the more orderly the decline in the next 20 min, the more of this gap gets filled. They need to... |
| 10:14:10 Pete |
The market recovered the long red candle very quickly. That is a sign that buyers are going to support the gap up. A gap reversal is unlikely. We might drift a little lower and continue to confirm support, but I... |
| 10:17:32 Pete |
Let this 1OP bear cycle run. Watch the lod and look for tiny bodied candles with tails under body as we test it. No reason to do anything just yet. The price action in the next 20+ min will be... |
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