16/3/23. Finspiration Thursday Evening Report.
XJO down heavily again today.
XJO down -1.46% today.
The chart remains straddling the 200-Day MA and down in the -2 to -3 SDs on the Bollinger Bands. It rarely gets so extreme without a move to the upside. (See, for example, back in early Jan. this year.)
Health +1.5% and Telecommunications +0.4% were the only positive sectors today. Only when we get the "biggies" like Materials and Financials showing positive numbers will we feel comfortable about the market.
Energy -4.8% and Materials -3.2% were the worst sectors today after Commodities in the U.S. fell heavily overnight.
European Stoxx600 is currently up +0.95%, which looks promising for our market tomorrow. But - lot of water to go under the bridge before the end of trading.
Stay safe.
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