Daily Market Analysis
2024-02-08
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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| 10:13:27 Pete |
The longer the market sits here the greater the chance we try to grind up to SPY $500. Just sitting here preserves the gains from yesterday and eventually buyers will start to nibble. If you have a strong stock with... |
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| 11:01:29 Pete |
As I flip charts I am seeing solid longs and shorts. The bearish searches have a growing number of candidates. A few weeks ago it was almost impossible to find a short and when you did it was a one... |
| 11:28:24 Pete |
Financials are a bit weak. I am seeing VXX rally on this bearish 1OP cycle. Look for more downside here. |
| 11:53:07 Pete |
Since the first hour of trading yesterday the volume for SPY has really dried up. The range has also been very compressed. There is a lack of interest by both sides at this level and the market is waiting for... |
| 12:03:10 Pete |
ARM and AVGO are they types of dips you like. The stock loses its RS, but it barely pulls back and it is well above VWAP when the SPY has been drifting lower. |
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