Daily Market Analysis
2023-07-13
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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| 09:57:54 Pete |
The market has been able to clear the high from Wed and it survived the remainder of the bearish cycle. There was not enough profit taking to offset buyers and now we have a bullish cross. I know it is... |
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| 10:00:15 Pete |
I would want to see steady progress higher during this bullish 1OP cycle. I feel the threat of having the rug pulled out in the next 20-30 minutes is fairly low and that gives our longs time to work. If... |
| 10:25:27 Pete |
You should have no more than starter positions on. We want the open from today to hold and we want to stay close to the VWAP. If those fail, you are not adding to the starter positions. You would only... |
| 10:32:20 Pete |
One of the reasons that I liked this area to start taking longs was that the gap had held and that we had a pending bullish cycle. The chance of the bottom falling out was diminished and there was a... |
| 10:35:43 Pete |
When you are buying at a new 52-week high, you have to use greater caution and you need things to progress quickly. If you are in strong stocks, they have probably been inching higher during this market compression so you... |
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