Daily Market Analysis
2024-02-01
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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| 09:33:07 Pete |
PRE-OPEN MARKET COMMENTS THURSDAY – We saw some profit taking after mega cap tech earnings and the FOMC. That was expected and we have another huge round of news pending in the next 24 hours. This will set the tone... |
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| 10:07:34 Pete |
SPY is struggling to hold the gap during the remainder of this bullish cycle. I view that as slightly bearish. We need to build on that bullish hammer or risk a drop. This is a time to wait. |
| 10:18:10 Pete |
I am not impressed with this bounce. Volume is relatively high and I believe we are going to test support. 1OP ready to cross bearish. ISM Man was ok at 49. Not as big a number as services. |
| 10:44:21 Pete |
Financials are good shorts today if the market rolls over. The NYCB bank news is weighing on the sector. |
| 10:46:12 Pete |
I am not impressed with this bounce and at some point the bid is going to be tested. The volume is heavy and a 1OP bear cycle has started. I don't know how far the market might fall, but the... |
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