Daily Market Analysis
2024-02-06
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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| 09:31:01 Pete |
Interesting fact. The US stock market accounts for 50% of the world's market cap. We have the liquidity and that is why we trade this market. |
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| 09:33:42 Pete |
The high from Mon is first resistance. If we are going to have a bullish day, we want a brief bid check that lasts less than an hour and then we want to attack the hod from Monday and blow... |
| 09:57:06 Pete |
No harm in letting this 1OP bear cycle run. If it produces we will have a much better entry point for longs. |
| 10:27:47 Pete |
Still not seeing any reason to buy. That last green candle was erased immediately. We do have a bullish cycle starting. We need to get to VWAP with ease and I would prefer to do it with 3+ nice consecutive... |
| 10:49:08 Pete |
From my viewpoint, we just squandered a bullish cycle. The market was not able to get off of the deck and we barely poked at VWAP. I think this next bear cycle still has the potential to produce so I... |
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