Daily Market Analysis
2022-08-29
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 MONDAY – Last Friday the market was bracing for the Jackson Hole speech from the Fed Chairman. This was like waiting for an FOMC statement and it did not disappoint. The rhetoric was hawkish and it was... |
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| 09:32:25 Pete |
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| 10:02:49 Pete |
right now we have a compression at the lod with a bearish 1OP cycle. That is mildly bullish. I would like to see a nice little short sqz to shake out short sellers during the next bullish cycle. We could... |
| 10:35:53 Pete |
That last green candle was an attempt to get buyers excited and to force a little short covering. It was instantly smacked down and it is bearish |
| 10:37:08 Russ |
@Pete Seems like we saw the ideal setup for shorts this morning, right? Wimpy bounce with mixed overlapping candles that could not even close the gap, followed by a bear cross with stacked red candles, breaching the trendline of the wimpy... |
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