Market Newsletter - Week of Feb Mar 11, 2024
Get an inside look of what's to come in the market this week and what stocks to watch out for!
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MARKET NOTES GOING INTO THIS WEEK.
Last week we saw the market slowly grind higher, and unlike every friday we have had the last 3 months… last friday the spy took a pretty substantial dump… on above avg vol. however, we are still above the 9, 20 and 50MA on daily so still in bullish territories.
Here is a look at some of the sectors for the last week and how they performed:
FEAR AND GREED INDEX
MARKET OUTLOOK
With the market ending in a bearish engulfing inverted hammer against a key fib level of 519 on Friday, expectations to pull back and test that 20MA currently sitting at 504.97 would be very healthy before finding some new buyers. Remember, in a strong market, a bull back to the 20MA is very healthy and needed to continue moving higher. Bears could get squeezed if we see a push above that 519. but again a healthy and controlled pull back to the 20MA is what fridays candle tells us!
UPCOMING IMPORTANT MARKET EVENTS:
UPCOMING EARNINGS FOR THE WEEK
MOST ACTIVE STOCKS FRIDAY:
SOME MEMBERS SUCCESS LAST WEEK
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