Daily Market Analysis
2023-09-12
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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| 09:42:14 Pete |
This is a nice way to start the day. The 50-day MA was tested and we bounce right off of it. It still does not mean that we are going to rally and fill the gap, but at this juncture... |
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| 09:44:04 Pete |
We don't often know what the market is going to do, but it helps to eliminate certain scenarios when we can. |
| 10:17:13 Pete |
Mixed overlapping candles and light volume. You all know what that means. |
| 10:18:13 Pete |
We would like to see this level hold above the 50-day MA during this bearish 1OP cycle. If it can do that, the next bullish cycle is likely to fill in the overnight gap. I would favor the long side. |
| 10:58:32 Pete |
The market has gradually been drifting lower during this bearish cycle. Lower highs are a sign of selling pressure and we are back below the 50-day MA. We could fill in the gap from yesterday. The drift lower has mixed... |
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