Daily Market Analysis
2024-04-05
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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| 09:42:26 Pete |
Good to keep an eye on VXX and TLT this morning. Nothing major going on in either right now. We want this bullish 1OP cycle to produce. There was nothing bearish in the jobs number. |
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| 09:48:56 Pete |
This would be my approach this morning. See what this bullish cycle produces and then watch the bearish one. That might mean missing a nice bounce, but here is my thinking. Bullish speculators will get excited and they will buy... |
| 09:51:05 Pete |
I doubt that we get downside continuation today, but if we wait, we don't have to worry about that. Support will be confirmed. Right now it has not been confirmed. |
| 10:11:07 Pete |
The market bid has been pretty stubborn so far and that is good. We want to see more of this bear cycle. If we sit here it will confirm support. |
| 12:13:26 Pete |
We've recovered half of the long D1 red candle and we are back above AVWAPQ. If you were "out over your skis" you can look to reduce risk from this point forward. The long red candle yesterday was a warning... |
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