Daily Market Analysis
2023-08-24
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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| 09:32:26 Pete |
Durable goods orders is a very volatile number. If you strip out transportation it was actually a little better than expected. Still not strong at .3%. This economic number is not usually a big driver. Initial claims solid at 230K ... |
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| 09:34:23 Pete |
NVDA first candle red. |
| 09:34:45 Pete |
SPY first candle red. |
| 09:35:34 Pete |
You are always looking for clues and eliminating scenarios. The significance is that this is not going to be a go-go move higher today. |
| 09:36:06 Pete |
If that were the case, we would have started with a nice long green candle closing on its high. |
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