Daily Market Analysis
2024-07-05
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
Click to expand content and reposition slider.
| 09:46:59 Pete |
SPY is in the gap and we have a nice long red candle. These gains are being smacked down. I would not take any new longs here. |
|---|---|
| 10:03:43 Pete |
CVS short also doing well @Swole: SBUX - Pete's pick, remains RW View |
| 10:05:10 Pete |
I just got an alert on BBY. If you recall, I got stopped out of that short for a scratch. I told you I would set an H1 LRSI alert when < .80. It just triggered. Even with a strong... |
| 10:16:53 Pete |
We've seen a couple of pretty good rejections off of the all-time high and that suggests resistance. I don't know that we will reverse, but I would be favoring the short side here if you have weak stocks with heavy... |
| 10:19:09 Pete |
The number was in line and the reaction was muted. We should go thru a bid check and the programs will test to see how aggressive buyers are. If the market holds the lod for the next hour, then we... |
Limited Access Only
Become a OneOption member to view all Daily Market Comments. Please visit our Start Here page to learn more about our system and how to become a member via our Free Trial.
Start Free Trial