Daily Market Analysis
2023-09-29
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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| 10:31:46 Pete |
TLT found support yesterday and higher today with inflation news. Nothing we can hang our hat on, but at least it is not going down. |
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| 10:32:36 Pete |
With regards to SPY we do not want to drift any lower to preserve the bullish case. We have to find support here as the bear cycle completes. Then we have a chance to get above the hod on the... |
| 11:59:47 Pete |
The market has not been able to make a new hod. It had been making lower highs and it is below the high from Thurs and the gap has been filled to the penny. I don't sense any urgency by... |
| 12:02:42 Pete |
Until we see a couple of consecutive stacked green candles, I would expect the market to keep drifting lower. For any longs we at least need to see a base form for 45 min. Keep it light |
| 15:51:38 Pete |
The market gradually lost the bid during the day. Once the gap filled, we needed to see signs that buyers were interested. Like I mentioned earlier, we needed at least a couple of nice stacked green candles together and some... |
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