Daily Market Analysis

2022-12-16

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

Click to expand content and reposition slider.

09:32:32
Pete
PRE-OPEN MARKET COMMENTS FRIDAY – The market has been in a steady decline since the 200-day MA was breached Tuesday. Major technical levels have failed and the S&P 500 is down 40 points overnight. The Fed is steadfast in taming...
09:34:15
Pete
Good Morning!
09:41:51
Pete
There are so many breakdowns and so many stocks to choose from. How do I do that? Normally, you will look for a major MA breach, a horizontal support fail or an up trendline breach. Right now, you want stocks...
09:43:32
Pete
You do not want stocks with herky jerky M5 price action. IBM, NUE, NFLX. Those were the poster children yesterday. If it does not look like that.... keep looking
09:47:04
Pete
SPY trying to hold the bid. We are in a bullish cycle just like yesterday. If we can't get into the gap as the cycle completes, we are going to test the downside.
Top