Daily Market Analysis
2024-02-09
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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| 09:30:32 Pete |
Good morning. Gaps up to a new relative high are the enemy. Make sure the gains hold. A gap reversal is possible. If we get a gap and go, we are going to see a buying climax next week. |
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| 10:12:13 Pete |
The gains from this point on will be hard fought. You can see the probe higher and then instant retracement. That is a sign that there are sellers. Market wants to go higher, but I would be very careful once... |
| 10:13:45 Pete |
How do you trade this? If you are long, you trade the very best of the best of the best. This is more important than ever. Concentrate on one or two stocks. Don't spread yourself thin. Then you can exit... |
| 10:36:00 Pete |
When you look at charts, visually draw channels on the stocks like I did with the SPY chart this morning. If you can connect highs and then lows and if the upper an lower lines are fairly parallel, it is... |
| 10:45:18 Pete |
Green Royal Flush is loaded with great stocks. |
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