Major indexes spent most of the session on a steady decline, with downside most prominently reflected on mega cap tech names ($META -3.1%, $AAPL -2%, $GOOGL -2.7%, $AMZN -1.7%).
Wise to use the market pullback to do a refresh of your watchlist. Avoid stocks with early range expansion to the downside undercutting their 20MA. Plentiful of leadership names are remaining above their rising 10MA at the moment.
Thanks for reading.
PS: If you enjoy the above curated article, you may follow me on twitter (@jeffsuntrading) to get daily market diary, trading ideas and market updates.
31/1/2023 Market Diary & Playbook
-Indexes spent day on steady decline, led by PB in $MGK: $META $AAPL $GOOGL $AMZN
-Wise to refresh yr watchlist. Avoid stocks with early downside range expansion, breakdown 20MA (relative weakness)
-Plenty of leadership names remain in my list pic.twitter.com/KPItb2YGwF
— Jeff Sun, CFTe (@jeffsuntrading) January 31, 2023
