Daily Market Analysis
2024-01-08
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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| 09:32:05 Pete |
PRE-OPEN MARKET COMMENTS MONDAY – This week the market will continue to search for support. The jobs report Friday did not excite buyers. Strong employment will give the Fed breathing room and it can postpone rate cuts. The higher wage... |
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| 09:47:54 Pete |
Last week was the time to take gains on swing trades in financials. I had mentioned that they were getting a bit lofty and that earnings are coming up this week. I believe some of the weakness is profit taking... |
| 10:51:43 Pete |
Agree. I like the move right thru high from Fri. Now we are going to challenge $471 @Hariseldon: Nice bullish move today on the market , lead by tech which gives it more credibility View |
| 10:58:25 Pete |
Tread cautiously with new long entries here. We have a bearish 1OP cross and a bearish engulfing candle M5 off of the hod and resistance from last week. We want to preserve the VWAP during this bearish cycle. Ideally, we... |
| 11:32:25 Pete |
I like what I see so far from this bearish cycle. It is not producing and we are still near the hod. If we can tread water here the next bullish cycle will send us thru $471. |
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