Daily Market Analysis
2024-02-23
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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| 09:35:10 Pete |
PRE-OPEN MARKET COMMENTS FRIDAY – The market is making a new all-time high and the “dip” was brief and shallow. It was actually more of a compression since we stayed close to the all-time high. This was our most bullish... |
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| 10:04:00 Pete |
We want SPY to keep compressing at the hod. That would be a sign that buyers are supporting this small gap up. Then we will have a bullish 1OP cycle to work with. If the selling pressure was heavy, this... |
| 10:20:49 Pete |
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| 10:22:55 Pete |
That is a weekly chart and it is consistent with the D1 chart. We don't predict a buying climax, but we are aware of it and we are ready to exit. The final move does not normally happen in a... |
| 10:26:27 Pete |
In my opinion, we have reached the level where we are close, now we just need that blow off. No blow off, no climax. A gradual grind higher is OK. Just because we are set up here does not mean... |
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