Daily Market Analysis
2023-06-08
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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| 09:32:35 Pete |
PRE-OPEN MARKET COMMENTS THURSDAY – The market broke out through a horizontal resistance level last week and it is struggling to advance. We are seeing a rotation out of big tech (QQQ) and Consumer Stables (XLP). These have been considered... |
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| 09:34:39 Pete |
Good morning! |
| 09:38:53 Pete |
So what does all of this BS mean? If we get a nice dip and the bearish cycle does not take out the low from Wed, we could have a nice set up for longs. Day trade it, but don't... |
| 09:51:43 Pete |
Be careful with longs here. A 1OP bearish cross is pending and we are at the lod from Wed. If we see long red candles thru that low early in the cycle, the scenario I want is not going to... |
| 10:07:10 Pete |
Well there was the probe and the bounce. 1OP did not even get a chance to drop. I am feeling pretty confident that the lod is going to hold. |
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