Daily Market Analysis
2024-04-15
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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| 09:44:23 Pete |
PRE-OPEN MARKET COMMENTS MONDAY – The selling pressure last week tells me that buyers are relatively passive. They have been waiting for a dip and they are getting one. This move is likely to be brief and shallow, but we... |
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| 10:06:40 Pete |
SPY has not been able to advance during the remainder of the bullish 1OP cycle. Now we will see if the bearish cycle can produce. If I had a good short that was breaking down while the market was up,... |
| 10:12:12 Pete |
You did not get movement higher and you have shorts setting up. We have seen selling pressure the last week and when one side or the other sparks a move and that move stalls, expect movement the other way. I... |
| 10:34:35 Pete |
We are compressing, but do not assume that this is support. 1OP bearish cycle still has room to run. I am looking for another leg lower. |
| 10:34:54 Pete |
Why? Who can tell me why? |
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