Market Recap for Friday, March 10, 2023

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SwingTradeBot over 1 year ago

What are your thoughts on 'today's (2023-03-10) market action?

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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
TT_2023-03-09.png 47.2 KB
 to almost all red
TT_2023-03-10.png 34.4 KB
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:

  • 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.

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SwingScalp over 1 year ago

And in the Strength Scans for Expansion Breakout and for Expansion Pivot Buy setups a grand total of one (1).  

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