All 3 major indexes $SPY, $QQQ and $IWM are now below their key moving averages. Though with hopes of a broad market Santa Claus rally fading, the period is perfect to identify stocks that begin their bases.
Chinese internet securities remain strongly in watch as they continue to exhibit relative strength in this period of selloff.
Thanks for reading.
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17/12/2022 market diary & playbook
– all major indexes $SPY $QQQ $IWM below KMAs
– chinese internet stocks $KWEB remain strong with amid friday’s selloff.
– focus list includes $MOMO, $GDS, $YMM pic.twitter.com/N9MK5y2cDy— Jeff Sun, CFTe (@jeffsuntrading) December 17, 2022
