15/3/23 Finspiration Wednesday Morning Report.
Dow Jones +1.06%. SP500 +1.68%. Nasdaq +2.14%. Small Caps +1.98%. Banks +3.2%.
SP500
SP500 gapped up at the opening and continued higher. It has bounced nicely out of the congestion zone at the left of the chart.
It is now at major resistances, horizontal resistance from 2 March, 8-DEMA and 200 DSMA.
Above that are two Supertrend Lines.
Expect some tough going in the near term.
Dead Cat Bounce?
If this is a dead cat bounce, then I would expect SP500 to fail here at the -1 Standard Deviation shown by the yellow line.
Commodities.
Commodities Index -1.28%. Energy -2.69%. Base Metals -0.1%. Agriculture flat 0.00%. Gold -0.58%.
After 25 minutes of trading - XJO this morning is up +0.7%. Financials are up >1%. Energy is a drag on the market down -0.8%.
Bitcoin.
BTC had a huge rise on Monday night up about +20%. That big move saw it bounce off the lower edge of the Kumo cloud and into bullish territory. It tried to carry through last night but faced concerted selling. It is back now to support of the recent congestion zone. Let's see if it can bounce here.
No comments:
Post a Comment