Daily Market Analysis
2023-03-27
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).
Abbreviated Comments View all
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| 09:30:16 Pete |
PRE-OPEN MARKET COMMENTS - There is some relief that SIVB had a buyer. There was relief back in 2008 when BAC bought Countrywide Financial (worst buy ever). The market rallied and then the second shoe dropped a few months later.... |
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| 09:31:18 Pete |
We need volume. |
| 10:05:51 Pete |
So we have a bearish hammer off of the hod. Nothing to get too excited about yet. 1OP is spiking so we need to be a bit cautious chasing longs here. Volume is very light. |
| 10:08:18 Pete |
Because of the backdrop (and not because I am bearish), I will look for some shorts. If the bearish cross produces a market dip, I want to have some prospects ready. If that bear cycle does not produce half way... |
| 10:16:59 Pete |
Now we have a bearish hammer off of the hod and a long red candle. Those are signs of resistance and bearish cross pending |
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