Daily Market Analysis
2023-11-08
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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| 10:33:06 Pete |
We opened near the hod and at horizontal resistance at SPY $438. That is within striking distance of the 100-day MA. The volume is light and there was no overnight catalyst to push us through. The bearish cycle has produced... |
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| 14:18:54 Pete |
Bulls want VWAP to hold during this bearish cycle. No need to exit longs just yet. Watch for this. Bulls rush in and buy the breakout > VWAP. That long green candle reverses and we fall right back below it.... |
| 14:24:04 Pete |
Miners continue to get pounded (PAAS, GOLD, NEM) |
| 14:36:12 Pete |
That is the red bar we need to be careful of. We don't want it to gain traction |
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