Daily Market Analysis
2023-03-28
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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| 09:36:35 Pete |
Not expecting any fireworks, but on a low volume day when the market is trying to latch on to anything, know that there is Fed speak in 30 min. |
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| 10:06:29 Pete |
SPY sitting right on the 100-day MA. Bullish cycle and some tails, but not able to get off of the deck. Consumer Confidence was good. Market did not move so non-event. Fed speak has started and no spark there. |
| 10:34:32 Pete |
Benign 1OP Bullish cycle and no advancement. This bearish cycle has a chance to produce and SPY < 100-day MA |
| 10:37:36 Pete |
There was no way to predict that SPY drop. You just had to wait to see what developed. The first move took an hour. It was a wimpy grind higher on light volume. Tiny bodied candles. You focus on finding... |
| 11:00:24 Pete |
1OP bullish cross, but until we recover the half way point of that red candle and get > 100-day MA, best to favor the short side. Exception would be strong stocks with heavy volume and D1breakouts. They are doing their... |
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