Market slipped further on the last day of May, though $QQQE closed the month on a gain of +3.17% vs $RSP -3.81% $IWM -0.82%. Correction was felt at all capitalization level of the market, but oversold defensive sectors $XLU $XLV $XLRE $XLP rebounded off their month lows, a mean reverting technical behavior. Short term breath logged its lowest level over the last 10-days.
Volatility is expected for today as $AI, $CRM, $OKTA, $CRWD all lower following earnings reports, and ISM PMI is due to be released at 10am ET.
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1/6/2023 Market Diary
1. Market slipped further on the last day of May, though $QQQE closed the month on a gain of +3.17% vs $RSP -3.81% $IWM -0.82%.
2. Correction was felt at all capitalization level of the market, but oversold defensive sectors $XLU $XLV $XLRE $XLP rebounded… pic.twitter.com/ojLrDsU1Cg
— Jeff Sun, CFTe (@jeffsuntrading) June 1, 2023
