Market Recap for Tuesday, March 14, 2023
SwingTradeBot 18 days ago
What are your thoughts on 'today's (2023-03-14) market action?
TraderMike 18 days ago
Well the NASDAQ 100 (QQQ) sticks out like a sore thumb on the index trend table. It's green on all 3 timeframes while the other indices are mostly red. So large cap tech is showing some serious relative strength while in the broader market only 27% of stocks are above their 50-day moving averages. Today's bounces in the other indices look more like dead cat bounces than the start of a lasting move. We may just be in a holding pattern without resolution until the Fed meeting next week.