Daily Market Analysis
2024-11-21
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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| 09:34:04 Pete |
We don't need to chase gaps up, but we need to be ready. The first candle is red so you should be breathing easier. The only thing that prompts us to buy now is a bullish engulfing candle in the... |
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| 09:34:53 Pete |
We've seen two-sided price action the last few days and the gap up is filling pretty easily. We want to find support at $591 and ideally, we fly off of it. |
| 09:36:11 Pete |
Overseas markets were pretty flat so not much influence there. |
| 09:38:27 Pete |
That was a very easy smack down. What does all of this volatility mean? Why are we seeing all of these long candles? Why does the market feel like it can move so freely from one extreme to the other? |
| 09:39:48 Pete |
Asset Managers are not feeling like they have to chase stocks right now. They are not net sellers or buyers. If they have a chance to scoop a drop, they will passively bid. That puts somewhat of a floor under... |
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