Daily Market Analysis
2023-02-27
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).
All Comments
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| 13:46:25 Dave W | Short SPY off the LRSI drop |
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| 13:46:42 Pete | Yes there is the set-up you were referring to. 1OP benign bullish cycle so next bearish cycle will produce. Last decent market move was down. LRSI > 80 and < 80 |
| 10:01:55 Pete | We have the breakout, now we need to hold it. Want to see half of the green candle hold and then green candle |
| 10:02:29 Pete | I am ready to buy /ES. volume OK |
| 10:03:26 Pete | Long ES 4014 |
| 10:30:42 Pete | Exit ES 3 pt gain $3017 |
| 10:35:56 Pete | Not a very impressive showing for buyers. Off of a relative low, they should be gobbling up shares and we stalled soon after new hod and gap fill |
| 10:46:34 Pete | Bearish 1OP cross and long red key bar to lod. I would favor the short side here |
| 11:26:26 Pete | Action today is very similar to what we saw last week. Early gap up, test the upside, sellers drive the market down, bid stubborn, eventually buyers give up, drop to lod and then bounce late. |
| 11:26:48 Pete |
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| 11:28:27 Pete | 1OP has been on with nice moves and clean crosses. I would lean on it. Volume also decent and good SPY moves. That is when it works best. |
| 09:12:45 Pete | PRE-OPEN MARKET COMMENTS MONDAY – If you watched the video I recorded last night, you know my market opinion. This is a major technical support level with significant trendlines and SMAs coming into play. The price action in the last... |
| 09:13:07 Pete |
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| 09:13:16 Pete | Good morning! |
| 09:42:09 Pete | The threat of a gap reversal will come early. If sellers are aggressive they will smack this move up and we will see stacked red candles. Buyers need to prove they are interested and most of the gap needs to... |
| 09:54:58 Pete | If buyers can fend off a gap reversal for another 15-20 min we will see a bullish 1OP cross and we should see a new hod. |
| 09:55:48 Pete | We have the bullish cross, but need to see that breakout. Then need to hold it. |