Daily Market Analysis
2023-01-26
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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| 09:29:41 Pete | PRE-OPEN MARKET COMMENTS THURSDAY – The price action has been bullish so far this year and we are testing the downward sloping trendline from a year ago with greater frequency. Yesterday the market recovered from a nasty gap lower and... |
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| 09:47:43 Pete | QQQ just above High- 8/16 - 12/13 and just below 200-day MA. Watch the hod. If it can get through tech stocks will run. |
| 09:50:01 Pete | 1OP is starting to cross, but no hurry here. I like to see the dashed line in the indicator flat to rising and right now it is still dropping. We are also in the gap. Be patient with longs. This... |
| 10:57:31 Pete | Lower high double top off of High- resistance from Jan. 1OP bullish cycle produced a little, but not enough to get to hod. Bear cross below zero and we are going to fill the gap here. Long mixed candles so... |
| 12:07:09 Pete | CLICK HERE TO WATCH TODAY'S VIDEO |
| 13:49:30 Pete | Dave W wrote: SPY trying to break top of wedge Yes and notice how 1OP is tanking. That is a good sign for a move higher. This bearish cycle is benign and the next bullish cross could produce. |
| 14:36:26 Pete | Hariseldon wrote: @lilsgymdan we are reconcile with what Pete was seeing, which was the end of a Bearish cycle and a tanking 1OP - I think he might have been looking at a different chart than SPY by accidentSorry for the... |
| 16:11:21 Pete | Very important to trade what we see and not what we think. I was bearish at the end of 2022 and I did not like the way we finished the year. If I traded that bias I would have been... |