Daily Market Analysis
2022-08-02
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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| 09:30:00 Pete |
PRE-OPEN MARKET COMMENTS TUESDAY – I liked the price action last week and it suggests that the low of the year will hold. That does not mean that we need to load up on bullish positions. I am still expecting... |
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| 09:43:00 Pete |
Yesterday I told you why a gap reversal was very possible. We did not get the same reaction to the gap down as we did yesterday. I explained why and these tidbits of knowledge are something you should save. |
| 09:50:00 Pete |
Be patient with longs. This is not Monday |
| 09:52:00 Pete |
"Pete do you always buy gaps down when the market has been strong recently?" Questions like this drive me nuts. The answer is NO. Yesterday I did and today I am not. The context is different. Every single day is... |
| 09:59:00 Pete |
We are testing the low from Friday. $406 could be in range. That would fill the gap from Fri. Notice the candles have lots of overlap. This is not a high quality market drop. Lots of retracement. We have a... |
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