Daily Market Analysis
2023-03-29
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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| 09:30:15 Pete |
PRE-OPEN MARKET COMMENTS WEDNESDAY – The market is going to test a down trendline today. The S&P 500 is above the major MAs and the volume has been light. I am not seeing any overnight news to justify a big... |
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| 09:35:05 Pete |
The first candle is red. That is not instantly bearish, but it slants that way. It tells us that a boom, boom, boom rally is less likely. It also sets the table for a potential second and third red candle... |
| 09:36:39 Pete |
We don't know which way the market is going to go at this juncture, but we do know that the short side holds greater profit potential so that is where we start our searches. |
| 09:43:59 Pete |
1OP bullish cross. Let's see what it produces. |
| 09:49:52 Pete |
We want a wimpy bounce. That is our best case scenario. Embrace a move higher without trading it. That will tell us if there is legit buying or if this is just a fake. A meager rally buys us time... |
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