Daily Market Analysis
2023-06-16
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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| 09:30:01 Pete |
PRE-OPEN MARKET COMMENTS FRIDAY – Buyers are in control and the market has added to the breakout from two weeks ago. We are seeing rotation into cyclical stocks and small caps and that is a sign of “risk on”.What should... |
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| 09:30:17 Pete |
What do we know about gaps up to a new relative high like the one we are getting this morning? Bullish speculators with FOMO will pile in and these gaps up are often faded. After a nice rally the last... |
| 09:35:11 Pete |
FYI. Consumer Sentiment at 10 am ET. This is not typically a big market mover |
| 09:50:35 Pete |
Nice little round of profit taking. 4 red candles. Volume is good, but they have some retracement. Bearish 1OP cross pending and Consumer Sentiment in 10 minutes. Many of you taking overnight gains on the open - nice. No need... |
| 10:53:57 Pete |
This round of profit taking has taken 90 minutes to run and we are near the lod. This is a sign that there is some selling pressure at this level. I would like to see what a bearish cycle produces. |
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