Market Recap for Friday, March 17, 2023
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TraderMike 4 days ago
The chop continues and just like that everything in the trend table is red except for the all green NASDAQ 100. I'm really starting to doubt if this hide-out-in-big-cap-tech trend is going to end well.
The "% of Stocks Above Their 50-Day Moving Averages" made another new 2023 low and that's definitely got my attention. I think the quickest way out of this choppy environment would be a selling crescendo that takes that indicator down to 10% or lower.
The "% of Stocks Above Their 50-Day Moving Averages" made another new 2023 low and that's definitely got my attention. I think the quickest way out of this choppy environment would be a selling crescendo that takes that indicator down to 10% or lower.
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