Daily Market Analysis
2022-11-07
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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| 09:31:31 Pete |
PRE-OPEN MARKET COMMENTS MONDAY – Strong US economic releases are keeping the market above the low of the year. This is giving the Fed confidence that they can hike. They admit that they see weakness ahead. Seasonal strength, record cash... |
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| 09:35:53 Pete |
1OP is starting off in a climax. Market gapping up in a longer term down trend. Translation: Wait to see what the bear cross brings. Our best scenario is a gap reversal with red candles that fill the gap. Why?... |
| 09:44:43 Pete |
What can we tell from the first few candles? Friday we had a big number. Big volume out of the gate and 3 stacked candles with little to no overlap. What do we have so far today? Very little volume... |
| 09:48:06 Pete |
What is my ideal set up here? 1OP bullish cycle continues. Market tests the high from Fri and it can't get thru. That is also close to 50-day MA. Bearish hammer off of high from Fri or bearish engulf that... |
| 09:48:44 Pete |
Know what you are looking for and what you will do if you get it. |
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