Daily Market Analysis
2023-04-06
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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| 10:09:52 Pete |
The market promptly tested the low from Wed and it bounced immediately. The volume is low and the likelihood of an "inside day" is high. |
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| 12:36:21 Pete |
On a swing basis I would be cautious with this rally and I agree with Hari. After the first long red candle off of the high, there is a retest of resistance. That second move we are seeing now lures... |
| 12:36:41 Pete |
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| 13:38:04 Pete |
This has been a very strong move in terms of price action (very little retracement), but there is no volume behind the rally. When you see rallies like this you need to have a double top at very least. There... |
| 13:40:34 Pete |
Given that we are pretty late in the bearish 1OP cycle, I would prefer to see a little dip late in the cycle and during the bullish cycle I would want to see that lower high. If this happens, I... |
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