Daily Market Analysis
2023-04-10
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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| 10:01:58 Pete |
Mixed overlapping candles. No direction yet. Bears have the ball and the cycle is just starting. Let's see what they can do with it. I still feel it is going to take time before we have any sense of direction... |
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| 10:04:20 Pete |
If the bearish cycle does not produce a new lod and we see tails, the next bullish cross is likely to produce. That would be a sign of support and we start looking for opportunities on the long side. We... |
| 10:14:17 Pete |
More than anything this morning I am noticing that stocks that have been strong (tech) are weak and stocks that have been weak (basic mat) are strong. They are simply retracing moves from last week. I am struggling to find... |
| 10:37:08 Pete |
The SPY has been able to make a higher low during this bearish 1OP cycle. That bodes well for the long side and the next bullish cross will send us into the gap. I would focus on the long side... |
| 10:42:04 Pete |
Because of my personal market bias, I would not trade big size on the long side. I would be ready to take gains and I would set passive targets. When we get the bullish cross, I would want to see... |
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