Daily Market Analysis
2024-03-07
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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| 09:30:16 Pete |
PRE-OPEN MARKET COMMENTS THURSDAY – The market ran up to a new high Monday and that move was smacked down. We spent Tuesday and Wednesday testing the bid and buyers are still interested. The SPY will open higher this morning.I... |
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| 10:12:28 Pete |
Gap up and compression. That is a sign that buyers are supporting the move higher. This is a good sign. If we raced higher I would be more suspicious of the move. The more of this bearish cycle I see... |
| 10:45:24 Pete |
Market is in a steady drift higher and we have a new all-time high. No reason to believe it won't keep going. We just need to be careful on long green candles |
| 10:47:12 Pete |
If we get a nice little run like the one we have now, expect some retracement. We need that to keep the market from melting up. Don't get shaken out on a few small red candles. Stay the course and... |
| 10:58:24 Pete |
What will be the first sign that a credit crisis is brewing? What specifically will tell us? This can be answered in one short sentence. |
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