Daily Market Analysis
2023-06-09
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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| 09:30:53 Pete |
PRE-OPEN MARKET COMMENTS FRIDAY - There was not much in the way of overnight news. Fridays have generally been bullish the last month. It seems like no one wants to be short into the weekend. The market held on to... |
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| 09:35:41 Pete |
China's PPI came in on the light side and that is good. We have been talking about commercial real estate. Commercial Mortgage Backed Securities (CMBS) delinquency rates (30+ days) for offices are > 4%. That is the highest since 2018.... |
| 09:52:43 Pete |
Couple of wicks at the hod. The volume during this move up is good so that means we are likely to see movement. Right now we don't know which way (don't assume it will be up) and 1OP will have... |
| 09:55:29 Pete |
Everything Wed looked "peachy" 15 min into trading and then the bottom dropped out and we had a bearish trend day. A move like that is very hard to recover from and it is not worth the risk this early... |
| 09:59:17 Pete |
If I see a bearish engulf off of the hod on this bear cross, I would take a small starter position in a short. It needs to be nice and clean and close on its low (no tail). If I... |
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