Daily Market Analysis
2024-07-18
Review our intraday commentary to learn how we interpret price action and build a market narrative.
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Abbreviated Comments View all
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| 09:32:48 Pete |
PRE-OPEN MARKET COMMENTS THURSDAY - The D1 chart says everything we need to know. The market is near an all-time high and buyers and sellers are battling it out. Expect two-sided price action and stay flexible. Do not marry one... |
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| 09:44:40 Pete |
Initial jobless claims at 243K. That is the highest level I have seen this year. It is only one weekly number so keep that in mind. The 4-week ave is what we need to keep an eye on. |
| 10:01:12 Pete |
Long AA Aug (16) $35 calls @ $3.72. Post earnings gap reversal off of the 100-day MA. I am essentially long stock via my short $39.50 puts that expire Fri as well. |
| 10:26:16 Pete |
Price action. I liked the first long red candle of the day. See how that was instantly erased? Then the market added to that long green bar. That was a little bid check and buyers scooped it up. Now we... |
| 10:30:33 Pete |
The market is resting just below the high from Wed. Here's what we want. Let 1OP run the bear cycle. If SPY can hug the hod, the next bullish cycle will fuel us into the gap from Wed. That would... |
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