Daily Market Analysis
2023-03-02
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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| 09:30:49 Pete |
PRE-OPEN MARKET COMMENTS THURSDAY – The market has been in a steady drift lower and this morning it is testing the 200-day MA. The major moving averages have been converging so the 100-day MA is in play today. The volume... |
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| 09:31:48 Pete |
Everyone wish Hari well in his Chat With Traders interview. We are looking forward to it. |
| 09:57:09 Pete |
1OP cycle has not completed yet and dotted line still falling. we are chopping around the 200-day MA. I believe the best scenario is one we have seen recently. Wait for a wimpy bounce with mixed overlapping candles to stall.... |
| 10:01:07 Pete |
Sellers are in control and they will not give up. They want to test that 200-day MA. If this were heavy news related selling we would have seen stacked red candles on heavy volume and we would be well below... |
| 10:13:35 Pete |
OK to look for longs, but I would not trade them. Sellers are not going to go quietly. They have kept a lid on any bounce in the last two weeks and they smell blood. There was no overnight news... |
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