Daily Market Analysis
2023-11-07
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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| 10:06:33 Pete |
This move up in SPY is nice and all, but we have mixed candles of decent length and light volume. 1OP is cresting and we have resistance at the hod from Fri/Mon. Unless you have the most incredible stock, I... |
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| 10:30:48 Pete |
QQQ has been well above the high from Mon and Fri. It is getting through High- trendlines with ease and these are major trendlines. |
| 11:30:39 Pete |
This is a bullish divergence. We blew through the trendlines with stacked green candles on QQQ. The market has been able to stay near the hod during this bearish cycle. This is going to turn into a bull flag formation.... |
| 11:41:16 Pete |
That did not take long. There is your bullish flag. We can expect two more bullish flags. By the third one we will be making marginal new highs and that is when we are likely to compress. Do we have... |
| 11:49:41 Pete |
This red candle could be a warning sign. We want to stay close to the hod and we want this red candle erased. |
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