Daily Market Analysis
2023-05-31
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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| 09:30:17 Pete |
PRE-OPEN MARKET COMMENTS WEDNESDAY – The S&P 500 is down 20 points before the open. As suspected, the opening gap higher Tuesday failed and the market gave back all of those gains. All eyes are on DC as the House... |
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| 09:30:28 Pete |
Good morning! |
| 09:39:02 Pete |
Could have been small short covering when QQQ got thru the April 2022 high, but most shorts covered a long time ago. There is no way that shorts are going to take that much pain before they bail and the... |
| 09:54:52 Pete |
The volume is light and the action so far is compressed. We might be in a holding pattern until the House votes on the debt ceiling. The goal from Congress is to get it thru the House and into the... |
| 09:58:36 Pete |
QQQ filled the overnight gap so it still has rel str |
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