While $QQQ +0.33% continued to make modest gains, reaching YTD high with help from gains of respective mega cap in $XLC, further detoriation is breath is observed.$MMTW (41.25%) remains below the bullish bias 50% level, and New Lows reached the week low of 199 to a net of -116 for the session. Equal weighted index $RSP -0.5%, $QQQE -0.21%, while $IWM -0.77% paints a clearer picture of broader market performance. Banking groups under further pressure as $KRE -2.48% $KBE -1.55% as $PACW -22.7% saw another sharp decline.
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12/5/2023 Market Diary
1. While $QQQ +0.33% continued to make modest gains, reaching YTD high with help from gains of respective mega cap in $XLC, further deterioration in breath is observed.
2. $MMTW (41.25%) remains below the bullish bias 50% level. New Lows reached the… pic.twitter.com/czZhcxEZWh
— Jeff Sun, CFTe (@jeffsuntrading) May 12, 2023
