Daily Market Analysis
2024-04-04
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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| 09:35:26 Pete |
PRE-OPEN MARKET COMMENTS THURSDAY – Even after hawkish “Fed speak”, bonds are moving higher this morning. That will take a little pressure of of equities today. The market has been digesting gains near the all-time high. This is a compression... |
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| 09:44:22 Pete |
1OP bearish cross. We want this cycle to run without much of the gap filling. Ideally, more than half of it is preserved and we never get close to the high from Wed. That would be a sign that buyers... |
| 09:45:36 Pete |
If the market crumbles during this bearish cycle it would be a sign that the opening move was not as strong as we would like and we need to be a little more patient. |
| 10:27:05 Pete |
We want this bearish cycle to end with a nice red candle that turns into a bullish hammer. A bullish engulf after a long red candle is fine also. We want this bleeding to stop soon. 1OP has some pretty... |
| 10:45:24 Pete |
I would take starter longs here. I would also be selling some bullish put spreads. I like that we did not fill much of the gap during the bearish cycle and we have a bullish cross. |
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