Daily Market Analysis
2024-01-16
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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| 09:30:51 Pete |
PRE-OPEN MARKET COMMENTS TUESDAY – Last week the market erased the losses from the first trading week of the year and it is hugging the high from 2023. The world “went to pot” over the 3-day weekend and the futures... |
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| 09:39:50 Pete |
We have a gap down below the lod from Fri and we have a bearish 1OP cycle. Let it run and let's see how much fire power sellers have. |
| 09:40:54 Pete |
Let's see what the candles look like on the way down. Stacked red with little to no overlap is bearish. Mixed overlapping candles is a sign that the trend is not as strong. |
| 10:11:45 Pete |
Agree. We have a bullish hammer off of the lod and a green candle after. That is nice support and we have a bullish 1OP cross. There is no need to get excited with longs unless this bullish cycle pushes... |
| 10:20:51 Pete |
Boom, boom, boom... we are in the gap. |
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