Daily Market Analysis
2023-01-25
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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| 09:30:38 Pete |
PRE-OPEN MARKET COMMENTS WEDNESDAY – The market tested the downward sloping trendline for a second time in six weeks and once again that resistance held. The overnight reaction to Microsoft’s earnings is negative and that will set a bearish backdrop... |
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| 09:56:39 Pete |
That is a nice clean break below the 200-day MA on a Key Bar and a bearish 1OP cross. Go short |
| 10:02:05 Pete |
This is a gap and go formation. Very little bounce on the open and no retracement into the gap tells us that sellers are anxious (little support). These patterns tend to play out with steady selling for about 90 minutes.... |
| 10:09:14 Pete |
That 200-day MA is providing some support and buyers have not thrown in the towel yet. We want to stay below it. The longer we do, the greater the likelihood that they throw in the towel and then the bid... |
| 10:12:05 Pete |
We know during the last few weeks that the action both ways has been excellent. Buyers and sellers are active inside the wedge. We have lots of pending earnings and the FOMC. Based on these candles we know buyers have... |
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