Daily Market Analysis

2022-09-28

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

Click to expand content and reposition slider.

06:59:26
Pete
07:16:48
Pete
07:38:47
Pete
07:46:42
Pete
What have we learned in the last two days? The table was set for a nice H1 bearish cycle and it has yet to produce. The M30 cycle has been producing good signals both ways which tells us that buyers...
07:50:29
Pete
A set up I would like today is an open near the loy and then stacked green candles to fill the gap instantly. Then we need to assault the hod from Tues. That was also the hod from Mon so...
09:27:56
Pete
PRE-OPEN MARKET COMMENTS WEDNESDAY – The headlines these days are as bearish as they can get and the SPY tested the low of the year yesterday.The US Embassy in Moscow has urged citizens to leave the country, England is trying...
09:40:41
Pete
st0rm wrote: I'm working on not being too down this morning for closing my SPY, BABA and other good puts early these last few days. I am so damn nervous of SPY moving unexpectectly back up (and maybe I should...
09:45:34
Pete
When you are in cash and you are bearish bounces are your friend. You can gauge the height and duration of the bounce. If it is wimpy and brief you can short it when it stalls and know that you...
09:47:43
Pete
The best set-up for bulls is an early drop that finds support and that recovers quickly. The best set-up for bears is that bullish specs are convinced that a cap low is in overnight and that they pile in. The...
09:51:10
Pete
I want to see what this M5 bullish cycle produces. If that was a cap low (and I do not believe it was) we will take out the hod with ease and keep going. For a cap low we need...
09:54:16
Pete
When those cap lows happen Asset Mgrs (long term portfolio mgrs) have to think, this is the last time I will be able to buy this low into year end. We need those longer term funds to flow in or...
09:57:09
Pete
Asset Mgrs are less concerned if they make money or lose money and more concerned with relative performance. If everything is down, they simply want to be down less than peers and benchmarks. One way to goose that performance is...
09:57:38
Hariseldon
This is a very weak bounce 
09:57:48
Pete
Agree. 
09:59:11
Pete
Draw your M5 up trendline from the low yesterday. If we take that out, half of the green candle will be breached. On a 1OP bear cross, that would be a good short.
09:59:25
Pete
Starting to see some wicks (signs of resistance)
10:04:21
Pete
That was a very long green candle that turned into a bearish hammer. Definite resistance
10:05:57
Pete
It will be hard for the market to rally without help from tech and AAPL will keep that sector down
10:06:16
Pete
I would be short here. 1OP bear cross coming
10:22:48
Pete
Long mixed candles is a sign of indecision. We did not want to see that last long green candle. 
10:23:26
Pete
Now we have to wait for clarity and for one side to dominate.
10:48:03
Pete
This is a tenuous bounce, but good. You can see how we are retracing (not stacking), but the volume is above ave so far and we have been able to preserve those 2 long green candles.
10:49:12
Pete
M30 completed and those cycles have produced, but the last bearish one did not and now we have a bullish cross
10:51:44
Pete
We have to be careful counter trend trading and we need confirmation. If the M5 bearish cycle can run without much of any retracement, I believe we have room to try some longs here. That is a big "if" and...
10:53:13
Pete
From a bullish standpoint, we want a brief and shallow M5 bear cycle. We should get a cross in 10 min.
11:18:04
Pete
Relative to what we have seen recently, the market is holding the bid well. We ran up to the hod and we have not retraced much. I am fairly bullish on this price action. We want this bear cycle to...
11:23:51
Pete
That was a bullish flag. I have enough confidence to buy here, but I would scale in. Let more of this bear cycle run and if we hold the hod keep adding. This has been about the time of day...
11:58:22
Pete
I would add to longs here. new hod and bearish cycle ran without any damage. 
12:15:58
Pete
At min I expect this bounce to fill the gap from Fri. Might take a couple of days for that. We will see buy stops trigger at the opening price from Fri and that will provide a big boost. 
13:30:10
Pete
We are close to resistance. I like the grind higher today. We have had very small retracements and we are on a bullish cross. This sets up well and we will see if we can poke thru that resistance during...
13:30:57
Pete
It is a little slow right now so I will share something with you. 
13:32:04
Pete
Fishing is a lot like trading. You have to evaluate conditions and adapt. All of your skills come into play and you have to know the patterns of the fish and more importantly, the patterns of the baitfish. If you...
13:34:48
Pete
13:41:05
Pete
We all do that we can to help you navigate these tough conditions, but it is going to take work on your end. Many of you have already crossed over to profitability. Congratulations and thank you Featured Traders! If you...
14:02:23
Pete
From a bullish perspective, we held the gains, had very shallow retracements and mixed candles all the way up. Not a powerful rally, but the best showing for bulls in a couple of weeks. The last new hod was a...
14:35:16
Pete
Exit FXI for a 15% gain. I will be back in it, but I feel a mkt bounce is coming so i am taking gains
14:35:37
Pete
That was a long term swing trade for me. 
14:44:20
Pete
1OP starting to move steadily lower and to distance itself from zero. Market still holding near the hod. Bulls want to see this continue until the bear cycle finishes. If it does a good bullish cycle will fuel a late...
14:47:11
Pete
M30 bullish cycle produced a nice rally. H1 does not have a bullish cross yet and the bearish cycle is not producing. If this continues the next H1 bullish cross should be a good one and we should have a...
14:51:06
Pete
mSquare wrote: Pete wrote: Exit FXI for a 15% gain. I will be back in it, but I feel a mkt bounce is coming so i am taking gainsGreat trade. Curious, how long ago 1st buy and last add?Covered short Aug...
14:53:37
Pete
Long ES 3725 with the intent to hold some overnight
15:08:56
Pete
We took out the hod and the open from Fri. We should fill some of that gap as buy stops are triggered. 
15:21:13
Pete
Remember that some of that pop was because of buy stops. Now we need to see follow thru. I think we will get it because the bull cycle is just starting. If we do NOT get the follow thru, I...
15:59:01
Pete
I will hold my /ES overnight
Top