Daily Market Analysis
2022-11-08
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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| 09:37:02 Pete |
Remember your mental mindset should be "this is going to be a dull day". That means you start off in defensive mode (not going to force trades). Only stacked consecutive candles with some height can change that mindset. |
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| 09:38:18 Pete |
1OP has a nice spike and it could roll over soon. We have a nice long red candle to start the day and the gap is filled. Let's see what if any follow thru we get on the bearish cycle. |
| 09:57:17 Pete |
We have a bearish 1OP cross, but the blue (dotted) line is still rising. I prefer these crosses when the dotted line is flat |
| 09:59:11 Pete |
Given the overseas markets, the after hours price action and the rally > 50-day MA yesterday I do have a slightly bullish bias today. I want to see a bearish cycle that holds SPY $380 and I would be looking... |
| 10:26:13 Pete |
Bearish 1OP cross and bearish hammer off of hod. Time to be careful with longs. I want to see half of long green candle fail, but probably will not short that given my bullish bias. I would need to see... |
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