Daily Market Analysis
2024-02-05
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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| 10:06:05 Pete |
No need to get long. Let the market find support. 1OP is crossing back down |
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| 10:39:06 Pete |
The previous high before last Friday's rally is being tested here. we have given back more than half of the gains and that is a bit farther than we would like. It is confirmation that there is selling pressure and... |
| 11:00:35 Pete |
These dips are important. Without them it is difficult to gauge market strength and the strength of the stock. Embrace them. Stocks that looked great before the open might look very different now. |
| 11:22:28 Pete |
We are getting those nice green candles to VWAP. I am still not in go-go gotta get long mode, but at lease support has been established. The drop came on a few long red candles. Then we compressed, then the... |
| 11:24:37 Pete |
One more probe for support with a higher low and a bullish hammer would be great. Then we grind thru VWAP. Get some of the profit taking out of the way and then buyers show interest. |
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