Further deterioration in the market induced by a general lack of buyer conviction and presumably some ongoing tax-loss selling efforts. The selloff were broad based and leadership groups also suffered through the session.
Had several stop losses triggered simultaneously from this week’s entry but China and metal miners group are still holding their week’s low.
Thanks for reading.
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29/12/2022 market diary & playbook
– $SPY (-1.24%) net highs/lows -200
– further selloff induced by tax-loss selling efforts
– leadership groups $KWEB, $FXI, $GDX, $SIL, $COPX also suffered, several stop triggered
– but the groups still holding their bases above week’s low pic.twitter.com/gFjrSjYceK— Jeff Sun, CFTe (@jeffsuntrading) December 29, 2022
