Daily Market Analysis
2023-12-21
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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| 13:11:52 Pete |
There are two components to every trade. There is the initial move that gets the stock on your radar and there is the follow through that makes you money. On days like this we only get the first component. The... |
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| 10:00:53 Pete |
Let's get through this early bid check. Buyers want confirmation that yesterday was just a "one off" and that this was just program selling. As soon as they have that "warm fuzzy", they will be buying. This is like dangling... |
| 10:23:10 Pete |
That was the bid check. I would feel comfortable trading from the long side here. We went into the gap and the red candle was followed by a bullish engulfing candle. Now we are making a new hod. That in... |
| 10:58:24 Pete |
The market did not get thru the high of the day during the remainder of the bullish cycle. Now we have a bearish cycle. We want the lod to hold. The action has been very dull with mixed candles so... |
| 11:45:31 Pete |
We still have some more of this bearish cycle to run, but we should get a bullish cross in the next 3-4 bars. Once we get through the bear cycle if the lod is intact we will have a bullish... |
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