Daily Market Analysis
2023-04-03
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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| 09:31:18 Pete |
PRE-OPEN MARKET COMMENTS MONDAY – This is a holiday-shortened week and we will get a decent round of economic releases. The light volume drift higher has been able to rise above all the major moving averages. ISM manufacturing, ISM services,... |
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| 09:39:28 Pete |
I need to make something clear. Just because I feel that our best trading opportunity will come on the downside does not mean that this scenario will unfold or that is has the highest probability of happening. As I explained,... |
| 09:42:33 Pete |
Wait and see how this bullish cycle completes, look for mixed overlapping candles on light volume on the move up and see if you can find some attractive shorts first. You don't plan on trading the long side right away... |
| 10:04:37 Pete |
Energy stocks are strong with the OPEC cut. Less oil means less transportation and the shorts I highlighted ship oil so that is why these stocks are dropping. I will look for shorts outside of shipping. |
| 10:07:36 Pete |
QQQ has not been able to recover from the early dip and it is still down. I would keep an eye on it since it has been leading the market. If it can't get off the deck it will be... |
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