Daily Market Analysis
2022-08-22
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– I’m sure the media outlets have justified the 50 point overnight S&P 500 drop with some nonsense. The market rallied 12% in a month and this is profit taking. In the last few weeks I have... |
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| 09:35:00 Pete |
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| 09:40:00 Pete |
There was a question about anticipating vs waiting for technical confirmation. It is critically important to read the previous price action and to get context. That helps us to understand what is happening currently and watch for turning points that... |
| 09:49:00 Pete |
A wimpy rally is our best scenario. 1OP has still not crossed. If we can't get into the gap it will set up a good short. |
| 09:55:00 Pete |
It is always hard to short after such a big drop. We have the bearish 1OP cross now. If we can't retrace half of the long red candle, that is bearish. A new lod is bearish. If you do not... |
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