Daily Market Analysis
2024-06-10
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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| 10:03:16 Pete |
1OP bearish cross. Blue line needs to flatten out and we would need a new lod before considering shorts. I want to see if this bearish cycle can get below the lod. If it can, that is our best chance... |
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| 11:41:55 Pete |
This has been a nice steady grind higher and a gap fill. We have a bearish cross pending, but the nice steady price action suggests that we should pause. I am not looking for any big dips here. If we... |
| 11:43:07 Pete |
So your longs should be doing well. Try to hold on to them during this bear cycle. If it is benign you look to add. |
| 13:36:02 Pete |
If you are hanging on to longs, you don't want any more leakage. We want to find support above VWAP. If we go lower, you have to exit long day trades. It is important to stay tight to the high.... |
| 14:01:58 Pete |
So the key today was to read the price action early in the day. The instant bounce and gap fill was very orderly. You got long on the bullish 1OP cross and you added on that nice tight orderly pattern.... |
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