After rallying over last two sessions, market experienced a stall and closed mostly flat from its opening. $IWM index level performance was notable, showing a rejection to its declining 10 & 20-MA. $KRE and $KBE, both down 2.8% and 2.2% respectively, also rejected their declining 10 & 20-MA due to lingering growth concerns. However, the FDIC facilitated a deal where $JPM acquired a majority of assets and assumed certain liabilities of $FRC.
Despite this, it’s still worth remaining skeptical in this market.
Thanks for reading.
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2/5/2023 Market Diary
1. Market experienced a stall and closed mostly flat from its opening. $IWM index level performance was notable, showing a clear rejection to its declining 10 & 20-MA.
2. $KRE and $KBE, both down -2.8% and -2.2% respectively, also rejected their declining… pic.twitter.com/LSiom7UtYl
— Jeff Sun, CFTe (@jeffsuntrading) May 2, 2023
