Daily Market Analysis
2024-07-15
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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| 09:30:35 Pete |
PRE-OPEN MARKET COMMENTS MONDAY - The market hit some resistance last week and gains from this point forward will be hard fought. Earnings season kicked off Friday and the reactions to JPM, C and WFC were mixed. The major releases... |
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| 09:46:40 Pete |
If the market can't recover that long red candle quickly, I would be more inclined to short rather than buy. That is a bear engulfing candle off of the high on a gap up. 1OP is in a bearish cycle... |
| 10:01:52 Pete |
From a bullish standpoint, we want to see the lod hold as the bearish 1OP cycle completes. If it can do that, more than half of the gap will be preserved and we could challenge the high from Fri. |
| 11:50:15 Pete |
Need to be careful here with longs. We don't mind "solos". Those are just shakeouts. We want to see support here while the bearish cycle completes. Then we want to see a nice gradual grind back to the hod. Reference... |
| 12:10:00 Pete |
Bulls want to see support right here. No more leakage. Stay above VWAP and start to form a base. Then over the next 3-4 bars start to move higher. Any breakdown would not be good. That puts us too far... |
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