Daily Market Analysis
2024-07-31
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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| 09:32:53 Pete |
PRE-OPEN MARKET COMMENTS FED-DAY - I've been encouraging you to stick with day trading and to avoid overnight risk exposure. With these intraday ranges, there is no reason to swing trade. Yesterday the S&P 500 dropped 100 points and today... |
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| 11:27:24 Pete |
Short MRK Aug (16) $115 puts @ $2.20. That is my short pick for today. If you look at the D1 and M5 charts you should be able to figure out why. I don't mind holding into the FOMC. The stock... |
| 14:10:43 Pete |
No Fed reaction so far. We will see if the press conference moves the needle. I don't think it will since there is no new info. |
| 14:56:55 Pete |
The market had a huge gap up today. It has been able to hold the gains after the FOMC and it has filled the D1 gap. It is also above AVWAPQ. These are all bullish, but we have major earnings... |
| 15:01:14 Pete |
It's easy to look at today's move and think that you missed a great opportunity. Make sure you look at both sides of the coin. First of all, you didn't get crushed by this overnight move like many shorts did.... |
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