Daily Market Analysis
2024-05-16
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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| 09:39:58 Pete |
Bearish alert triggered WHR. Big drop in stock, no bounce with the market, compressing at low. I was flipping charts and I noticed this. I took two seconds to set an alert on a compression breakdown. |
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| 10:04:06 Pete |
Just a little econ update. Initial claims dropped from last week and they are consistent with decent job growth. Philly Fed was weaker than expected (4.5 vs 7). Industrial production flat. It will be important to watch the econ releases... |
| 10:07:56 Pete |
Gap up, compression, bearish 1OP cross. We were going to get a bid check this morning. |
| 10:22:59 Pete |
AR, EQT, JPM, MRNA, MU, SCHW, SE are all good for swing trades. If the Hist IV is < .35 buy deep ITM options with a couple of months until exp. If the Hist IV > .35 look for bullish... |
| 12:31:16 Pete |
This is a very stubborn move lower. The bearish cycle is producing, but marginally. From a swing standpoint, I am looking to add. I don't want to see any long red candles and I want to stay well above the... |
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