Daily Market Analysis
2023-04-04
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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| 09:37:01 Pete |
PRE-OPEN MARKET COMMENTS TUESDAY – 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 rally above all the major moving averages. ISM manufacturing came in... |
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| 09:43:51 Pete |
This bearish cycle is continuing and we started the day with 3 stacked red candles. That is going to keep a lid on the market for the first hour and this was a nice little smack down on light volume. |
| 09:54:56 Pete |
First move today is down and we filled the gap. The volume is light so there is no reason to believe that this will turn into a sustained drop. The market has been grinding higher in the last two weeks... |
| 10:08:22 Pete |
Read this morning that China is cutting steel production. Not a good sign for longer term econ growth. @Abie: X stacking reds on high rvol View |
| 10:14:37 Pete |
Bearish cycle completes and we see overlapping candles and ave volume. The market bid has been tested and the drop was relatively contained. We can expect two-side action so be selective with your entries and take gains when the move... |
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