Daily Market Analysis
2024-07-12
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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| 09:35:09 Pete |
PRE-OPEN MARKET COMMENTS FRIDAY - Yesterday the market traded at a new all-time high and it reversed sharply. The CPI came in lighter than expected (.1% vs .2% on core) and initial jobless claims declined (people have more jobs). This... |
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| 09:44:38 Pete |
Know that buyers and sellers are battling it out. We need to wait for concrete evidence that one side or the other has the upper hand. Given that this is going to be an inside day, we can expect LPTE. |
| 09:45:50 Pete |
From my perspective the best set up would be a test of the lod from Thurs and a violent bounce off of that level. Then at least we would know to favor the long side. I'm not say this will... |
| 09:47:12 Pete |
If the market starts to float higher with mixed overlapping candles, that bounce could stall and then we could test the lod. That is why I would prefer to test the lod from Thurs and establish that support now. "If... |
| 09:49:31 Pete |
TSLA made a big move yesterday on volume so I am watching it. |
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