Daily Market Analysis
2023-11-28
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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| 09:53:38 Pete |
Regarding shorts, take it easy. We have a bearish 1OP cross pending. I would have preferred to see a bounce into the gap. Then I could have evaluated the weak stocks to see if they were drifting lower when the... |
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| 10:36:07 Pete |
FYI. Everyone is always trying to gauge the health of the consumer after Black Fri/Cyber Mon. Retailers are always very mixed so I prefer to use the credit card companies. MasterCard said sales were up 2.5% Y/Y. To me, that... |
| 10:41:40 Pete |
This is why we needed to be cautious with shorts. Without that crackdown and proof that we are going lower, this early drop was just a bid check. |
| 10:43:39 Pete |
If we test the high from Mon and we can't get thru it, then we can take a look at shorts on the notion that resistance is going to hold. Then we want to see weak stocks that have been... |
| 10:44:37 Pete |
Two decent volume bars on this rally so I would be favoring the long side. |
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