Daily Market Analysis
2023-10-13
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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| 09:50:41 Pete |
Bonds had a nice overnight bounce and that is helping the market. So far XLF is holding the gain. Market is holding the gap up so far. Still no sense of market direction |
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| 10:00:37 Pete |
Still too early to make a call on the market. We are seeing some wicks and the 1OP cycle finished without getting close to the hod from Thurs. I view that as slightly bearish. |
| 10:01:47 Pete |
This red bar formed when I was typing and we took out the lod. This is taking on a more bearish tone, but still too early. |
| 10:03:25 Pete |
Our best scenario for the first move today is not for a move higher, it is for a move lower. For that reason, I would be more focused on shorts early. Find stocks that are drifting lower in an up... |
| 10:04:32 Pete |
If the bearish cycle runs without a market drop... then you can shift to the long side if the gap up is preserved. This is like a football game and each side will have the ball. When one side can't... |
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