Daily Market Analysis
2026-04-09
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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| 09:30:19 Pete |
From a day trading standpoint, the market tends to drift into the range of a long candle from the prior day. If that happens we can expect wimpy moves up and down. As they unfold we look for contra trades.... |
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| 09:56:40 Pete |
Software getting destroyed, but you don't have to dive into these long reds. This is sector rotation vs company specific news. That means these stocks could bounce. Wait for that and you will have a better entry. |
| 09:57:46 Pete |
"But Pete, there were stacked red candles on heavy volume. Why did the stock rally?" Do not chase opening moves. You should all know that by now. Don't be FOMO Joe. |
| 10:00:23 Pete |
When you get a bounce in these stocks, you want to see red candles preserved. That bounce will tell you what you need to know. If they play whack-a-mole with the green candles... you know the selling is legit and... |
| 10:07:39 Pete |
This is a wimpy bounce. I want it to struggle to advance during this bullish cycle. If it does... I will be looking for shorts. |
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