Daily Market Analysis
2023-08-04
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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| 09:31:24 Pete |
I am hoping for some volume and directional movement. This is the last round of news for a while |
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| 09:32:24 Pete |
The first hurdle was the high from yesterday and we cleared that. |
| 09:34:16 Pete |
Our best scenario is to the upside and we have a bullish 1OP cross pending. Buyers supported the market yesterday and that will give them confidence this morning. |
| 09:42:54 Pete |
We don't mind a stall here. Sellers are going to test the bid and we want buyers to step up. Ideally we hold the high from Thurs and then on the bullish 1OP cross we see a nice long green... |
| 09:43:52 Pete |
The longer the compression lasts without a major retracement, the better. That would be a sign that buyers are replenishing bids. It will also give us time to find strong stocks |
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