1. $MGK +1.11% further supported index level performance as $QQQ +1.18% bounces off its trendline and rising 10-MA.
2. The broader market, though, exhibited weakness due to continued consolidation efforts, $RSP -0.41% $IWM -0.74%. Short term breath also reflected more negativity, though $MMTW (55.35%) remains above 50% bullish bias benchmark.
3. Notable group decliners are in $KBE -3.2% and $KRE -2.7%, both losing their position in 10,20 and 50-MA this week.
4. Commodities group $WEAT, $CORN, $UNG all +20% in 2 weeks, looking interesting
Thanks for reading.
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23/6/2023 Market Diary,
1. $MGK +1.11% further supported index level performance as $QQQ +1.18% bounces off its trendline and rising 10-MA.
2. The broader market, though, exhibited weakness due to continued consolidation efforts, $RSP -0.41% $IWM -0.74%. Short term breath also… pic.twitter.com/AwXaKpuAIb
— Jeff Sun, CFTe (@jfsrevg) June 23, 2023
