Daily Market Analysis

2022-09-06

Mark As Read
Mark As Read

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).

All Comments

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07:40:14
Pete
I hope all of you had a nice conclusion to your summer. That was a nasty curveball Friday. Everything looked good heading into the holiday weekend. Buyers supported the market and they fended off a gap reversal for the first...
07:40:43
Pete
09:29:10
Pete
PRE-OPEN MARKET COMMENTS TUESDAY � Last Friday the market seemed content with the jobs report and the lower than expected hour wage component. After 2.5 hours of trading, the bottom fell out and the S&P 500 reversed almost 100 points....
09:53:59
Pete
Stacked red candles and a gap reversal during  a bullish cycle. Not the way bulls wanted to start the week. ISM services in 5 min
10:03:37
Pete
ISM serv 56.9. Better than the 56 expected. 
10:04:15
Pete
That gives the Fed more breathing room to hike. Good news = bad news. That was a solid number
10:10:20
Pete
I would be more interested in shorting a weak number. With the Fed steadfast on tightening it could be a sign that they are ignoring econ weakness. Now it tells me that the econ is shouldering the rate hikes. Good...
10:11:48
Pete
The D1 up trendline SPY is being tested. 
10:37:35
Pete
We had nice support at the lod with some tails under body, but we do not know if this is a "solo". We need to make sure it does not retrace. 1OP is nearing a bullish cross and SPY is...
10:39:19
Pete
The market was not going to have a substantial bounce until we probed for support. We have done that and if this holds we could be a nice litttle bounce
10:44:07
Pete
Now we know that was more than a solo. We are back above the lod from Fri and we cleared the open from the last long red candle. I believe we will go higher. The more time we spend here...
10:53:30
Pete
I am flipping like mad to find some bullish stocks I like. Not finding much. Lots of smaller cap stocks 
11:10:24
Pete
This bullish cycle is just starting and we tested the hod. Looks good to me.
11:14:23
Pete
Running very basic search. Stock > prior high, liq options and volume > 200%. Nada
11:51:45
Pete
SPY has been able to stay near the hod. The next bear cycle will be a good tell. If we stay near the hod during the bear cycle the next bullish cycle will take us thru the hod. This is...
12:09:59
Pete
A nice brief 30 minute bearish cycle and a compression would be nice here. That would set us up for an afternoon move thru the hod. This last red candle is a little daunting. We all know what happened on...
12:14:43
Pete
This is the issue with holidays. They take 1-2 trading days out of the week before the holiday and at least one day after.  
13:32:27
Pete
SPY $390 is very significant. Here is a similar pattern we saw earlier in the year. Once that upward sloping trendline was breached, the selling pressure increased. Even if we do not make a new low for the year, we...
13:32:48
Pete
13:37:42
Pete
Andreas wrote: Question If the 10P crosses up, but the 10M0 isn't in a bull cross, does that suggest chop1OMO is a confirming technical indicator and it has nothing in common with 1OP. 1OP is early and you can use 1OMO...
13:43:14
Pete
Hariseldon wrote: Short SPY using $395 Puts for $6.85 - Expires Friday - how Bearish am I? Bearish as FYou've been that way for two weeks. Great forecast!!!
16:07:02
Pete
16:21:21
Pete
SimonM wrote: Pete wrote: Pretty typical post holiday trading. Hey Pete, is this type of choppy price action after holiday due to institutions shuffling positions in preperation for a larger momentum move? or are insitutions gauging the temprature of other institutions...
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