Daily Market Analysis
2023-06-21
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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| 09:30:03 Pete |
PRE-OPEN MARKET COMMENTS - We are seeing some profit taking and some of the run up last week was exacerbated by triple witching. There will be some fund rebalancing into the end of the month and that favors some selling... |
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| 09:33:17 Pete |
Overseas markets were generally down. China was the weakest. Xi was offended when Biden called him a dictator. LOL |
| 09:45:59 Pete |
We had a nice rally last week and then a 3-day weekend. There is no news to drive the market. We are seeing some profit taking from last week. I would be keeping my trades to a minimum and I... |
| 09:48:58 Pete |
There are weak stocks, but for most of you, trading the short side will be very difficult. I would be less inclined to short into market drops than I would be to short into market rallies. The relative weakness will... |
| 09:53:27 Pete |
If the SPY rallies above the 1SD on VWAP and you have a bearish 1OP cross, you have the right ingredients to short weak stocks. Again, I would discourage this strategy for the vast majority of you. You are getting... |
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