Strange Happenings, 7 Mar 2023
🖼 Daily Technical Picture 📈
➤ Equity prices ended the day flat after the initial Bullish momentum carried over from last week. Strange was the out-sized relative underperformance of the Russell 2000 small cap stocks. It sold off quite aggressively. What's a plausible explanation? Interest rates? Maybe it was just one of those days...
➤ BTW, I forgot to mention this: Last Friday was the 10th CONSECUTIVE Friday that equities ended the trading day with a green candle i.e. higher close than the open. What's with this pattern of events? What will happen this Friday?
➤ I don't read too much into today's price action. It maybe some anxiety with upcoming economic data and blabbering Fed mouths. It isn't a reliable signal to say if prices will reverse lower or it was just a temporary pause in upward momentum.
➤ Conclusion: It's 50/50 on the direction of the next trade. Market is leaving me guessing.
➤ Equity prices ended the day flat after the initial Bullish momentum carried over from last week. Strange was the out-sized relative underperformance of the Russell 2000 small cap stocks. It sold off quite aggressively. What's a plausible explanation? Interest rates? Maybe it was just one of those days...
➤ BTW, I forgot to mention this: Last Friday was the 10th CONSECUTIVE Friday that equities ended the trading day with a green candle i.e. higher close than the open. What's with this pattern of events? What will happen this Friday?
➤ I don't read too much into today's price action. It maybe some anxiety with upcoming economic data and blabbering Fed mouths. It isn't a reliable signal to say if prices will reverse lower or it was just a temporary pause in upward momentum.
➤ Conclusion: It's 50/50 on the direction of the next trade. Market is leaving me guessing.
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✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
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