Daily Market Analysis
2023-05-30
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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| 10:07:26 Pete |
As expected, that early pop was rejected. Nice steady progress to a gap fill. |
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| 10:17:49 Pete |
The volume this morning has been OK so far so we should get some decent movement. |
| 10:50:00 Pete |
No market rally during bullish 1OP cycle. On the attempt at a bounce for SPY, that most recent long green candle was immediately erased. That is a sign of selling pressure. If this cycle ends without any move away from... |
| 10:58:26 Pete |
You know from my comments last Fri that I pay very close attention to China. "The tail does not wag the dog." The US and China make up 43% of global GDP. Without both countries clicking on all cylinders, I... |
| 11:02:34 Pete |
I've been too busy to check, but this price action (compression) has the feel of a pending event. Do we know when the debt ceiling vote is going to take place? We could be waiting for that outcome. |
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