Daily Market Analysis
2023-03-07
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
Click to expand content and reposition slider.
| 10:16:27 Pete |
Powell's testimony must have started. |
|---|---|
| 10:32:36 Pete |
Flat open and then a long red candle. This was when Powell started speaking. "Solos" are not that daunting. That is just a knee jerk reaction and I don't know what he could have said in the first few minutes... |
| 10:34:20 Pete |
What would have been more concerning is 3-4 consecutively stacked red candles. Those are a sign of something material and that happens when there is sustained selling. I am expecting a bounce and more choppy price action. 1OP bullish cross... |
| 10:34:23 Hariseldon |
He said that rates will be higher than anticipated and the hikes may need to be accelerated from here - which raised the odds of a 50 bps in the next meeting to 80% - they were definitely more Hawkish... |
| 10:35:12 Pete |
Yes, from 25 - 50 basis points is material. |
Limited Access Only
Become a OneOption member to view all Daily Market Comments. Please visit our Start Here page to learn more about our system and how to become a member via our Free Trial.
Start Free Trial