Daily Market Analysis
2023-08-22
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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| 09:31:34 Pete |
I don't care about thumbs up, but it does give me an indication of your engagement. This is one of the most important Pre-open comments I will post and I don't think you are paying attention. |
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| 09:34:26 Pete |
You should dissect every sentence in those comments and reference the D1 and M5 charts. Read it and understand exactly what I am saying and why that sentence and observation is relevant. How did the price action change my expectations... |
| 09:50:35 Pete |
The early action tells me not to expect a "go-go" D1 bounce. Sellers have some say in this and buyers are not overly aggressive. |
| 10:08:09 Pete |
I would not buy until we see the rest of this bearish cycle. The gap filled and we could see support here, but we could just as easily stage another leg lower. This was a pretty convincing smack down by... |
| 10:42:30 Pete |
So this is why we wait for the bearish 1OP cycle to complete before we buy. Just from a trader standpoint, you know that bullish specs are anxious. They wanted to buy that gap fill. Many waited through the open... |
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