Market Recap for Wednesday, March 22, 2023
S
SwingTradeBot about 1 year ago
What are your thoughts on 'today's (2023-03-22) market action?
T
TraderMike about 1 year ago
An ugly close today and the % of stocks above their 50-day moving averages made another 2023 low. It's typical to get some wild swings after a Federal Reserve interest rate decision. We often don't see the true reaction until the day after. So all may not be lost yet.
Other things that stand out to me today:
Other things that stand out to me today:
- many key moving averages given up (broken) by the indices
- lots of bearish engulfings
- lots of shooting stars thanks to the post-Fed reversal
Not a lot to feel bullish about at the moment.
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