Daily Market Analysis
2024-11-11
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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| 09:58:06 Pete |
SPY backed off below the high from Fri during the remainder of the bearish 1OP cycle. Half of the gap up has been preserved so far. Be patient and make sure we have support. There's nothing to suggest that yet... |
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| 12:23:26 Pete |
As we expected, LPTE rangebound market. @KaibabCowboy: Question @Pete The 1st 3 candles of the day indicate resistance at $600 which was expected. The next 3 candles indicate some support at $599, all the time keeping in mind that the volume... |
| 12:38:37 Pete |
The vast majority of traders do NOT buy enough time when they trade. Any little dip in the stock and you are in trouble. How many times have you been right on the stock but lost money because the options... |
| 12:44:36 Pete |
SPY has been making lower highs and new lod. I am not looking for any big drop today, but after a nice little run, we should expect that there is going to be some profit taking. Could see a little... |
| 12:51:28 Pete |
For swing trading, we expect dips especially after a good run. We want to gauge profit taking. If the drop is deep, we take notice and we don't add to positions. We respect the threat and we monitor closely and... |
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