Daily Market Analysis
2023-08-18
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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| 09:44:31 Pete |
1OP is in a deep trough and we did NOT get stacked reds on the open... good. |
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| 09:45:54 Pete |
That would be a tough set up for us to trade. So far the price action has been good. This could be our best case scenario. Look for those shorts that are just getting thru support levels on heavy volume. |
| 09:46:24 Pete |
If we get a benign bullish cycle and we start to see this bounce stall out, we will have a good entry point for shorts |
| 10:25:36 Pete |
The market is trying to hang on. Buyers are not very aggressive and they have taken it in the chops recently. The market is a bit over-extended on the downside so institutions are testing the "ask" to see what's there.... |
| 10:39:10 Pete |
Let this bullish cycle complete. Don't jump the gun unless you have a really nice short that has been ticking lower. |
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