Daily Market Analysis
2023-07-20
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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| 10:36:58 Pete |
I mentioned before the open, use QQQ as your guide. It made a new lod after 30 min and the red candles have been stacked on heavy volume. |
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| 14:30:37 Pete |
If you are watching QQQ per my suggestion, you had lots of lead time that this SPY bounce was doomed. QQQ never got off the deck and it made a new low of the day almost 40 min ago |
| 14:37:38 Pete |
If you are in buy only mode (which I suggest for all of you who are not pros), you might be relatively inactive today. You know that when the market finds support you will have an opportunity to make good... |
| 14:39:02 Pete |
The danger of trying shorts is that you will be tempted to hold them overnight. By the time they start gaining traction, you get a big snap back rally when the buyers return. Then you will have a mess on... |
| 14:52:19 Pete |
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