Daily Market Analysis
2024-06-17
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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| 12:12:11 Pete |
Just a heads up for potential shorts. The reason Chinese stocks rallied was because the gov was buying stocks. That maneuver sparked some short covering in April and May. That move was fabricated and FXI is rolling over again. China's... |
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| 12:58:29 Pete |
This is pretty steady price action. There is typically one day where we get a strong directional move the week of triple witching and this could be it. If institutions feel they have enough momentum either way, they will try... |
| 13:00:02 Pete |
You don't have to understand what they are going. You just have to know that there is often one strong trend day the week of triple witch. |
| 13:04:33 Pete |
One example of many was when OEX was the most liquid options contract in the world. It is American style cash settled. The institutions would be short stock (the basket) and long OEX calls. This is a completely hedged position.... |
| 14:37:08 Pete |
That red bearish engulfing candle is your warning sign. Likely the hod and a bearish cross on 1OP. |
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