Daily Market Analysis
2022-12-19
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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| 09:53:59 Pete |
The low from Fri is close and the bearish 1OP cycle is super deep. that means the downside does not present very good profit potential for SPY. If we easily breach the low from Fri I will go with it... |
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| 09:54:41 Pete |
I have been watching 1OP on D1 basis. That bearish cross signaled trouble and now we have confirmation. |
| 10:24:55 Pete |
Light volume "inside day" with mixed overlapping candles. Keep it light |
| 10:37:50 Pete |
If you have one or two really good trades today, you can make decent money. That is how I look at days like this. If you have 5 or 6 marginal trades you will spend your time babysitting instead of... |
| 10:40:31 Pete |
Resist temptation and don't short on long red candles. Don't buy on long green candles. Almost all of those retrace on a day without a market trend. |
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