Daily Market Analysis
2024-11-20
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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| 09:38:50 Pete |
This red candle instantly puts us into defensive mode. It was long. It will be hard to erase that one, but it's not complete yet. |
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| 09:49:09 Pete |
I like CHWY. Could be my pick of the day in the live event. Love the D1 breakout and not worried about the H- trendline above. That is a pretty weak end point. This is a resistance level and I... |
| 09:51:20 Pete |
Compress, compress, compress at the low end of that long red. It will breakdown in the next 2-3 bars. This is bearish. If that level holds for 4-5 bars, it starts to turn bullish. |
| 09:53:42 Pete |
We can't start to consider longs unless we eat away at that long red quickly. First step is to get above the mid point. Then we need to charge at the open from that candle. |
| 10:01:24 Pete |
Are the stocks in your lists holding up well? Good, this is when you can judge the bid. When the market does find support (today, tomorrow, next week), they will fly higher. |
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