Daily Market Analysis
2023-09-25
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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| 09:30:13 Pete |
We were going to breakout of the wedge formation one way or the other last week and the price action was very compressed. Even before the breakout I mentioned that we were not likely to travel far in either direction.... |
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| 09:32:57 Pete |
Good Morning! I will be taking Tues and Wed off. |
| 09:55:07 Pete |
That is a pretty decent sign of support. We instantly filled the gap down. Given the overnight back drop I would not be in a hurry to buy. Let's make sure we have support. |
| 10:23:21 Pete |
This bullish 1OP cycle has not produced much. We should see some selling on the next bearish 1OP cycle. Bears want a new lod during it and bulls want a higher low double bottom. |
| 10:25:45 Pete |
Given the recent selling pressure we are not likely to see a meaningful support level until we get a nice hard drop followed by a bullish engulfing candle followed by stacked greens. Anything less will be faded. Buyers need to... |
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