Daily Market Analysis
2024-08-06
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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| 09:31:50 Pete |
PRE-OPEN MARKET COMMENTS TUESDAY - Take all of the fundamentals and throw them out the window. We don't need them. All we need is price. When we have stubborn price movement with mixed overlapping candles it is a sign that there... |
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| 10:24:38 Pete |
Here's what to watch for. If the high from Monday is assaulted on the first attempt we want it breached easily. We want it to hold and then grind higher. That would put us in the gap and we have... |
| 10:28:32 Pete |
One of the reasons the market took a dump yesterday was Japan. Their market rebounded overnight and that should place a bid under our market. |
| 10:36:50 Pete |
TSLA is the kind of short I would be looking at. It tried to bounce above the 200-day MA and it was rejected. It made a lower high when SPY was making higher lows and challenging the hod. You don't... |
| 10:43:03 Pete |
RTX is the type of stock I would be looking to day trade long. It barely sold off yesterday and today it is above the high from Fri. |
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