Daily Market Analysis
2023-05-12
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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| 09:31:49 Pete |
PRE-OPEN MARKET COMMENTS FRIDAY –The macro backdrop is fairly balanced and buyers and sellers are in a stalemate. The debt ceiling meeting that was supposed to happen today is postponed until Monday. Sentiment is that both sides are getting closer... |
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| 09:32:34 Pete |
Good morning! |
| 09:43:37 Pete |
1OP will have a bullish cross. If the market is able to get thru the $414 level during this cycle, it could float higher. The volume is light so far. I would still be cautious because a reversal could gain... |
| 10:06:05 Pete |
That little gap up failed right away. 1OP never crossed. |
| 11:09:55 Pete |
The move lower has had mixed overlapping candles. The volume is not great, but not horrible either. 1OP has not produced yet so I don't see any danger for shorts. If this cycle runs without much of a bounce, the... |
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