Daily Market Analysis

2023-03-02

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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09:30:49
Pete
PRE-OPEN MARKET COMMENTS THURSDAY – The market has been in a steady drift lower and this morning it is testing the 200-day MA. The major moving averages have been converging so the 100-day MA is in play today. The volume...
09:31:48
Pete
Everyone wish Hari well in his Chat With Traders interview. We are looking forward to it.
09:57:09
Pete
1OP cycle has not completed yet and dotted line still falling. we are chopping around the 200-day MA. I believe the best scenario is one we have seen recently. Wait for a wimpy bounce with mixed overlapping candles to stall....
10:01:07
Pete
Sellers are in control and they will not give up. They want to test that 200-day MA. If this were heavy news related selling we would have seen stacked red candles on heavy volume and we would be well below...
10:13:35
Pete
OK to look for longs, but I would not trade them. Sellers are not going to go quietly. They have kept a lid on any bounce in the last two weeks and they smell blood. There was no overnight news...
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