Daily Market Analysis
2022-12-16
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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| 09:32:32 Pete |
PRE-OPEN MARKET COMMENTS FRIDAY – The market has been in a steady decline since the 200-day MA was breached Tuesday. Major technical levels have failed and the S&P 500 is down 40 points overnight. The Fed is steadfast in taming... |
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| 09:34:15 Pete |
Good Morning! |
| 09:41:51 Pete |
There are so many breakdowns and so many stocks to choose from. How do I do that? Normally, you will look for a major MA breach, a horizontal support fail or an up trendline breach. Right now, you want stocks... |
| 09:43:32 Pete |
You do not want stocks with herky jerky M5 price action. IBM, NUE, NFLX. Those were the poster children yesterday. If it does not look like that.... keep looking |
| 09:47:04 Pete |
SPY trying to hold the bid. We are in a bullish cycle just like yesterday. If we can't get into the gap as the cycle completes, we are going to test the downside. |
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