Daily Market Analysis
2023-05-09
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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| 09:45:17 Pete |
This candle is already an omen. First two bars show a little selling. Third bar engulfs them. That is a sign that we have no momentum on the open. |
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| 10:13:14 Pete |
Wimpy bounce. Mixed overlapping candles. Could not fill half of the gap. Below prior low. Bearish 1OP cross. Sellers will take a shot. We need to blow thru the lod on the first attempt to have a shot at a... |
| 10:38:01 Pete |
Higher low double bottom and 1OP bearish cycle has completed. We have seen a bounce into the gap this morning and the selling pressure is not heavy. That should not change. I would favor longs based on what I see.... |
| 10:57:26 Pete |
CRSP, PLTR, CVNA, NVAX. Do you see a common theme for many of the leaders today? Woof... the dogs are barking. |
| 10:59:07 Pete |
Rotation into the laggards is typically a bearish sign at the high end of a range. All of the other stocks are exhausted so some cash starts to flow into the dogs. |
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