Daily Market Analysis
2023-01-17
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).
All Comments
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| 09:30:38 Pete | PRE-OPEN MARKET COMMENTS TUESDAY – It’s all about the wedge that is forming on the daily S&P 500 chart. The 50-Day, 100-day, and 200-day MAs are inside of that compression and they are being crossed with frequency. Be mindful of... |
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| 09:30:44 Pete | Good morning! |
| 09:34:10 Pete | The last two days the market has tested the bid early and both times it recovered. That will give buyers a little confidence. |
| 09:37:39 Pete | Crux wrote: @Pete Looking at the day trade section in your morning comments, they dont make sense. Not really sure whats going on thereThanks for the heads up. Fixed that. |
| 09:41:03 Pete | I would let this bearish cycle complete. See if there are any stacked red candles. If mixed and overlapping, there is support. At the lod, look for a bullish hammer or bullish engulf. If the loss is relatively contained and... |
| 10:13:45 Pete | Bullish hammer off of lod, bullish 1OP cross, new hod, green key bar, > prior day high. All looks good for longs. Don't go overboard - light volume. |