Daily Market Analysis
2022-08-17
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).
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| 09:30:00 Pete |
PRE-OPEN MARKET COMMENTS WEDNESDAY – Yesterday the SPY challenged major resistance at the 200-day MA and it was smacked down from that level. That should be expected on the first attempt after a 500 point S&P 500 rally in the... |
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| 10:37:00 Pete |
We got a wimpy bounce and we are about to take out the lod. This could just be to flush out dip buyers so it could be solo. The bid has been pretty stubborn. |
| 10:51:00 Pete |
I am fairly confident that we will get that solo red bar, but I am also fairly confident it will be a solo. Buyers are lined up at the lod and they will try to trigger those stops just like... |
| 11:02:00 Pete |
If we recover half of that red candle and then green candle above $426, we have seen the lod until FOMC min. Still need to be cautious. As DaveW pointed out, not a great market backdrop here. Lots of mixed... |
| 11:18:00 Pete |
I like being long here. at very least we should get a long green candle |
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