Daily Market Analysis
2024-11-15
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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| 09:31:25 Pete |
PRE-OPEN MARKET COMMENTS FRIDAY - The market has been digesting recent gains and the price action has been compressed this week. The inflation numbers have been inline (CPI and PPI) and initial jobless claims were good (217K). Retail sales were... |
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| 09:31:42 Pete |
Good morning! |
| 09:46:07 Pete |
A bullish pattern would be a leak lower the next two bars and a giant green candle that engulfs the early candles and that flies into the gap (20%). If we get that, there has to be follow thru. The... |
| 09:49:35 Pete |
We are right on that support level so it is possible. A more likely scenario is that the market can't get anything going and we leak below $589.20. Buyers don't have any reason to buy near the all-time high. They... |
| 09:51:41 Pete |
There is that green candle, but it was not very convincing. At this stage it is a "solo" to attract dip buyers. We need instant follow thru right into the gap and we need to stack a green right on... |
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