Daily Market Analysis
2023-11-21
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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| 09:30:57 Pete |
Did any of you notice how many new trades Hari and DaveW took yesterday? Answer: Not many. I wonder if they are a little cautious given the backdrop? |
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| 09:35:00 Pete |
For those of you looking to add to BPS, you want a nice drop. That might work against your current BPS, but it will be a chance to observe those stocks. If they are super strong, perhaps you add to... |
| 09:35:59 Pete |
How can I be so sure that the market is that strong? Well, it took 3 months for us to drop and 1 month to recover all of those losses. Who do you think has the ball right now? |
| 09:37:15 Pete |
The drop happened in fits and spurts with retracements and small bounces. The rally off of the low has been a rocket shot. |
| 09:53:47 Pete |
As you pointed out, low volume rallies don't mean short. Stay long and don't get overly aggressive. Low volume rallies can kick into high gear very quickly. Asset Managers who are under-allocated and who initially missed the move don't want... |
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