Daily Market Analysis
2023-06-20
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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| 10:16:12 Pete |
Gradual drift lower and bearish 1OP cycle. We are pretty easily giving back that green breakout candle D1 for SPY and that is NOT a good sign. Remember on these breakouts it is critical to preserve that candle. |
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| 10:19:29 Pete |
If we close below the open from last Thurs, this starts looking more like a buying climax and then we can expect more downside. Still way too early to call for that, but we need to be aware of it.... |
| 11:57:28 Pete |
There is not much lift for SPY on this 1OP bullish cycle. If buyers were truly interested they would have jumped on this drop. The dip would have reversed instantly with a couple of stacked long green candles and much... |
| 11:59:48 Pete |
The SPY would not have taken out the open from the long candle last Thursday if buyers were in control. We took it out with ease. The volume on this bounce would have been decent. It is not. I would... |
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