Daily Market Analysis
2024-07-17
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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| 09:39:18 Pete |
There is only one scenario that would warrant a bullish trade today (stacked greens) and it has a very low probability of happening (10%). That means your focus should be on finding great shorts. Any bounce will set a good... |
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| 09:40:37 Pete |
If we have signs that buyers are engaged during the morning, we can start looking on the long side, but that will take at least an hour to confirm so there is no point to trying to find early longs. |
| 11:22:48 Pete |
Here are some starter shorts I took during the video. CAVA, ASML, META, SHOP. I also shorted /NQ two contracts which I still took a $900 gain on. |
| 11:25:02 Pete |
Market is finding support here and 1OP bullish cross. There will be a chance to short after that cycle runs, but we need to gauge the bounce (or lack of one). |
| 11:38:12 Pete |
Short CCJ $48.20. That was also in the video and just filled. |
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