Market Recap for Friday, March 10, 2023
S
SwingTradeBot over 1 year ago
What are your thoughts on 'today's (2023-03-10) market action?
T
TraderMike over 1 year ago
Welp, yesterday's recap gave a good warning for what happened today. The trend table went from about 2/3 red
to almost all red
and the one box that's yellow could actually be red because the Nasdaq-100 is slightly below its 50-day moving average.
More clear signs of an ugly day, here are some of the top signals triggered:
More clear signs of an ugly day, here are some of the top signals triggered:
- Lower Bollinger Band Walk
- Stochastic Reached Oversold
- Expansion Breakdown
- New 52 Week Low
- Wide Range Bar
Also, the "% of Stocks Above Their 50-Day Moving Averages" is approaching the low 20s. Once it gets there the market is always under a lot of stress. That's an area where it's probably too late to sell for anyone with an intermediate to long term focus. I also know that when the trend table is all red it's a time to look for buying opportunities and when it's all green that's a time to think about locking in long-side gains.
Recent Comments
- TraderMike on QMCO
- TraderMike on BOOT
- Dr_Duru on BOOT
- TraderMike on Stochastic Reached Oversold
- SuccessfulGrasshopper897 on Stochastic Reached Oversold
From the Blog
Featured Articles