Daily Market Analysis
2024-07-23
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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| 09:47:39 Pete |
I like GE post earn. Nice D1 H- breakout and testing horiz resist |
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| 10:32:15 Pete |
1OP is still rising and we have a new hod. We are also above the high from Mon. Feels like a grind higher. Nothing strong. Mixed overlapping candles and constant bid checks along the way. If we can get thru... |
| 10:42:10 Pete |
If you compare the last SPY M5 candle to the last M5 candle for GE you can see that the stock barely flinched. It stayed right at the hod. That is the kind of bar-by-bar analysis you have to do... |
| 10:43:31 Pete |
Now look at the SPY bar from 9:50 and compare it to the 9:50 bar for GE. That was your early tell. |
| 11:29:36 Pete |
"Pete I don't get it. GE had RS so I bought it when the market bounced and I was expecting a new hod. Then it pulled back and I lost money." |
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