Daily Market Analysis
2023-03-06
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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| 10:04:23 Pete |
Market was able to hold the little gap up on the open, but it was not able to advance during the last leg of the bullish cycle. There are mixed candles at the hod and the volume is light. 1OP ... |
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| 10:06:39 Pete |
For longs, it is always nice to get a little market drop. That helps you gauge the strength of the stock. When we have a gap up, they all participate. The fakes fall out on the first drop and then... |
| 10:49:52 Pete |
What have we learned? The SPY is compressing at the hod during a bearish cycle. This has a good chance of being a benign cycle. AAPL continues to grind higher and it is thru the D1 High- trendline. If the... |
| 10:56:11 Pete |
Now that you have patiently waited, you see that the nice green SPY candle at the hod was easily given back so you wait to see if resistance has been established before you buy. You want the SPY to be... |
| 11:01:03 Pete |
I am going to test the new version. We are seeing some resistance at the hod and after a big run the last two days, I would expect some profit taking ahead of Powell Tues. The open of that green... |
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