Daily Market Analysis
2024-04-10
Review our intraday commentary to learn how we interpret price action and build a market narrative.
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Abbreviated Comments View all
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| 09:32:39 Pete |
PRE-OPEN MARKET COMMENTS – WEDNESDAY – Last week the stage was set for a nice upside breakout. The market had been compressing near the all-time high and a strong jobs report could potentially fuel the move. Thursday the market gapped... |
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| 09:57:30 Pete |
We are letting this bullish 1OP cycle run and we can see that the candles are long and mixed. Conclusion, "Gap and Go" down is less likely. The last long bullish engulfing candle tells us that buyers are still around.... |
| 10:00:42 Pete |
As this bullish cycle completes, I will be watching for an attempt to recover some of the gap. There is resistance at the low from yesterday and we might not get much higher. I would like to see a green... |
| 10:03:21 Pete |
"What about a bounce Pete?" "What about bull markets die hard Pete?" This is a big drop. We saw selling pressure last Thursday and again yesterday. Do not discount that! We have a bearish cycle pending and right now I... |
| 10:09:26 Pete |
I'm trying to keep all of you on the right side of the action. That is my job. We had light long exposure Thurs and we were preparing for a breakout. We did not get the move we were looking... |
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