Daily Market Analysis
2024-03-27
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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| 09:36:37 Pete |
Resistance from the prior day high and a gap up. 1OP in a steady decline, let's see how much of this gap fills. |
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| 10:32:18 Pete |
That was a nasty drop for SPY and we are filling in much of the overnight gap. The volume is heavy, but I think some of this is end of quarter window dressing. There is no reason to buy here. |
| 10:34:19 Pete |
The candles are long and there is lots of retracement. That is a sign that buyers and sellers are active. Right now, sellers have the ball. If we saw consecutive red candles with little to no overlap, that would be... |
| 10:37:23 Pete |
From a bullish standpoint, here is what I would want to see. I would like the lod from Mon to hold. We are right on it. That would mean that the late day selling yesterday was a climax of sorts... |
| 10:38:45 Pete |
From a bearish standpoint, we want this bullish cycle to run without a move above VWAP. Any little attempt to get back there needs to be smacked down. Then we want to see the low from Tuesday tested. Price action... |
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