Daily Market Analysis
2023-08-16
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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| 09:30:41 Pete |
PRE-OPEN MARKET COMMENTS WEDNESDAY – In yesterday’s comments I mentioned the fundamental reasons for market weakness. Please go back and read those comments. From a technical perspective the market is weak and I want to focus on that this morning.The... |
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| 09:31:01 Pete |
Good morning! |
| 09:32:15 Pete |
CLICK HERE TO WATCH TODAY'S VIDEO |
| 09:46:53 Pete |
We are right on the 50-day MA. We do not want to break through that. We want to hit resistance here. If we can't get thru it and a quick bullish cycle passes without a breakout, you will have an... |
| 09:47:53 Pete |
What if we blow thru the 50-day and keep adding right now? Then the next bullish cycle is likely to fuel the move and you can try some longs. |
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