Daily Market Analysis

2022-08-02

Mark As Read
Mark As Read

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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09:30:00
Pete
PRE-OPEN MARKET COMMENTS TUESDAY – I liked the price action last week and it suggests that the low of the year will hold. That does not mean that we need to load up on bullish positions. I am still expecting...
09:43:00
Pete
Yesterday I told you why a gap reversal was very possible. We did not get the same reaction to the gap down as we did yesterday. I explained why and these tidbits of knowledge are something you should save.
09:50:00
Pete
Be patient with longs. This is not Monday
09:52:00
Pete
"Pete do you always buy gaps down when the market has been strong recently?" Questions like this drive me nuts. The answer is NO. Yesterday I did and today I am not. The context is different. Every single day is...
09:59:00
Pete
We are testing the low from Friday. $406 could be in range. That would fill the gap from Fri. Notice the candles have lots of overlap. This is not a high quality market drop. Lots of retracement. We have a...
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