Daily Market Analysis
2023-08-23
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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| 09:59:24 Pete |
Nice little rally and we have a bullish cycle to work with. The market has been able to add to the gap up. Candles have plenty of overlap and the volume is not great. You can try longs here, but... |
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| 10:18:09 Pete |
This was quite a strong rally from the open. Buyers are interested and we marched right up to the open from Tues |
| 10:21:14 Pete |
I would stick with longs and I would not be shorting here. In order to short I would want to see resistance build at the high from Tues and no more progress as this bullish cycle completes. Then lots of... |
| 10:30:54 Pete |
If we had volume behind this move, I would be really bullish so far, but we don't. |
| 10:32:22 Pete |
Just based on what I see so far, I am expecting a relatively wimpy bearish cycle where most of the gains hold and then the next bullish cycle sends us to a new hod and thru resistance. There is nothing... |
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