Daily Market Analysis
2024-07-24
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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| 09:34:24 Pete |
PRE-OPEN MARKET COMMENTS WEDNESDAY - The last leg of the market rally has come on light volume and that is a sign that the level of conviction is low. It is not necessarily bearish, it just means we need to... |
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| 09:49:56 Pete |
Be very careful taking any longs!! Stocks that have relative strength early in the day can reverse very quickly. If you buy them, you are essentially saying the market is going to bounce and these stocks are going to lead... |
| 09:51:12 Pete |
You best strategy right now is to find stocks that have been weak and that are breaking major D1 support on volume. You have a market tailwind to fuel that move. |
| 09:52:13 Pete |
MARA looks good early, but the D1 looks like crap. Don't trust these early moves especially when you have nothing to lean on D1. |
| 09:53:18 Pete |
LMT and GE have good D1s. If anything, those would be better longs... but we are not buying!! |
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