Daily Market Analysis
2022-08-19
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 FRIDAY – The S&P 500 has run up 12% in a month on relatively light volume. The interest rate hikes to date will take time to filter through the economy and until then, Asset Managers will remain... |
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| 09:54:00 Pete |
Stacking red candles. This is bearish and we could see a bear trend day |
| 10:04:00 Pete |
We are seeing some support with tails under body and a 1OP bullish cross is likely in a couple of bars. It is still too early to buy. This is a 40 pt drop with follow thru selling. It is... |
| 10:18:00 Pete |
So if you are looking to short, you want a benign 1OP bullish cycle. Brief and shallow bounce. That will be a sign that there is more downside and that will provide a good entry point. |
| 10:20:00 Pete |
If you are looking to buy, you want to see this support hold and you want at least one really nice long green candle. You must wait. We need to make sure it is not a solo short sqz. If... |
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