Market Recap for Thursday, April 6, 2023

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SwingTradeBot over 1 year ago

What are your thoughts on 'today's (2023-04-06) market action?

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TraderMike over 1 year ago

The obvious standout is the small caps still badly lagging behind the larger cap indices.  For those other indices the selling of the last 2 days appears to just be a normal dip in a longer term uptrend.  I see that lots of stocks tested their 20-day moving averages today -- from above and below -- with twice as many finding support or crossing above that line than those failing at that the 20 DMA.

I'm also glad to see that one of my favorite scans, the Non-ADX 1,2,3,4 Bullish topped the "Unusually Active Signals for the Day" list.  I've added a couple of stocks from there to my "Ready for Entry" watchlist for Monday.  Hopefully they will actually trigger entries.

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