Daily Market Analysis
2024-07-26
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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| 09:34:05 Pete |
PRE-OPEN MARKET COMMENTS FRIDAY - The S&P 500 is up 40 points overnight. The PCE deflator was inline (.1%) and the release did not have a market impact. Overseas markets were up overnight with healthy gains in Europe. GDP was better... |
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| 11:32:49 Pete |
When the market doesn't give you anything to work with in the first half of the day, it will typically give you a move later in the day. Given the recent volatility the odds of this are fairly high. Until... |
| 12:41:46 Pete |
I don't consider this a strong rally. If we can't challenge the high from Thurs on this next bullish cycle I would start taking gains on longs and I would watch for signs of a resistance. That bearish cycle has... |
| 13:36:28 Pete |
You can see how easily these gains were shed |
| 13:38:26 Pete |
There could have been some minor news and it will take the blame for the drop. However, the rally was not that strong in the first place so they did not really need a reason. |
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