Daily Market Analysis
2024-06-12
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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| 10:13:00 Pete |
Bearish 1OP cross and the market is compressing at the high. Let's see if this bearish cycle produces anything. So far, the market has been able to hold the gains and a massive gap reversal is less likely. We would... |
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| 10:44:35 Pete |
Bearish engulf off of the hod followed by another red. Tread cautiously with longs. |
| 10:52:39 Pete |
I would take a small short if we breach $542.90 this bar or next and I would add if we take out VWAP in the next few bars. |
| 10:54:17 Pete |
It has to happen quickly. That is the key. A gradual drift lower is not a sign of selling pressure. I need to know that buyers are not interested. That is how you get those quick drops and long red... |
| 11:02:36 Pete |
This is not a strong pullback so far. Red, green, red, green is not going to cut it. Just a normal dip as far as I am concerned to this point. |
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