Daily Market Analysis
2023-09-05
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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| 09:57:04 Pete |
Easy test of the lod from Fri. We have a bullish 1OP cross, but the dotted line is still dropping. I would not be buying here. 1OP could easily cross back down. Besides, we don't just buy because of a... |
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| 10:20:04 Pete |
If this current candle can finish green, it is a good sign. That was a new lod and it bounced immediately. Next we would need a green candle that closes above the high from the previous candle. If we get... |
| 10:25:21 Pete |
That is the SPY confirmation we were looking for. |
| 10:26:19 Pete |
You can trade the long side, but this is only a bounce. We don't know how high it will go or how long it will last. We know that this is going to be a choppy dull day, so we... |
| 10:27:31 Pete |
If during the move we get an unexpected surprise (nice stacked greens on volume), we can add to positions. If not, stick with what you have. When the bounce stalls, expect that we could reverse and test the downside. The... |
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