Roller coaster actions are witnessed in bank group $KBE $KRE, along with $XLF as improved breath today is of minimal significance. Short term bear structure of the market remains unchanged as $SPY lost its momentum failing to reclaim its 200-MA. Rally were seen as opportunistic trading move as $MMTW rebounded off its oversold level.
Biggest asset class mover already exceeding its weekly ATR is on $BTCUSD (+11.75%) as it bounces off its flattening 200MA. $BITW also gained +14.85% (week).
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15/3/2023 Market Diary
-Roller coaster in $KBE $KRE $XLF. Improved breath is of minimal significance
-ST mkt weakness unchanged. $SPY lost momentum to reclaim 200-MA
-Rally seen as opportunistic move, $MMTW rebound off oversold lvl
– $BTCUSD +11.8%, $BITW +14.8%
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— Jeff Sun, CFTe (@jeffsuntrading) March 15, 2023
