A brokered move by Swiss National Bank for $UBS rescue of $CS only provide a brief respite for the market as resillient opening in $XLF, along with $KRE and $KBE group continues to get sold into the close. Outperformance of small and midcap stocks was helped by some rebound action in bank and energy names. $IJK & $IJK closed +1.7%, while $XLE logged strongest sectorial gain +2%.
Worth to note of the bear flag in $RSP, $OIH, $KBE & $KRE ahead of Wed’s FOMC.
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21/3/2023 Market Diary
-Brokered move by Swiss National Bank for $UBS rescue of $CS only provide brief respite
-Resilient opening in $XLF $KRE $KBE continues to get sold into close
– $IJJ $IJK +1.7%, $XLE logged strongest sector gain +2%
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— Jeff Sun, CFTe (@jeffsuntrading) March 21, 2023
