Daily Market Analysis
2023-02-08
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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| 13:47:00 Pete |
Tues hod+lod/2 is right where we are. This is also pretty close to the price pre-Powell yesterday. All of this Fed speak has sparked some movement, but no net change. |
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| 10:04:21 Pete |
The market has been pretty stable, but we have yet to see what the bearish cycle brings. Until some of that runs I would be cautious with longs. Volume is OK so we should get some movement today. |
| 10:36:35 Pete |
This is why we wait for the cycles to run. Waiting saved us some money and this dip let's us see how the stocks we are tracking are holding up. Given the volatility yesterday, no reason to believe we won't... |
| 10:54:22 Pete |
"Inside day" and low volume. The bearish cycle looks like it will complete soon. No need to rush. 1OP is early and we do not have a cross yet. The damage has been relatively contained. Mixed overlapping candles is a... |
| 12:07:26 Pete |
The selling pressure has been pretty steady. No big bounces. That last green candle was instantly erased. That tells you that the selling pressure is still heavy. We want SPY > $411.50 before getting long. 1OP is very flat and... |
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