Daily Market Analysis
2023-08-21
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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| 10:02:03 Pete |
Volume light and candles are mixed. We are above the high from Fri so at least we are not trapped in that range... for now. |
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| 10:06:12 Pete |
For longs I still want to see what this bearish cycle produces. If we hug the high, we could get a nice gradual drift higher on very light volume. |
| 10:15:01 Pete |
If we get below the open of the last green M5 candle you can try some small day trades from the short side. You will have the bearish 1OP cycle to support the trade. |
| 11:23:56 Pete |
TLT is on the verge of making an new 52-week low. That is going to pressure the mkt. |
| 12:03:29 Pete |
We knew the price action Friday was wimpy when the market bounced. The recent market action has had a bearish bias. Our best case scenario given that backdrop is a gap up and reversal because we have plenty of room... |
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