Trading Plan: 23 March 2023
Nasdaq (-1.60%) began the day on a positive note, even before the FED news, but the last hour of trading was brutal, sending the price lower to close the previous day’s gap. The high of the day was in a resistance area and some sell-off was not out of ordinary. Watching yesterday’s high vs. key averages and recent lows.
SP-500 (-1.65%) had also a roller-coaster day, up, down, up, and… then erased all the gains of the week when investors realized the FED speech is not about a soft landing for the economy. The price found support at SMA200. Watching the SMA50 vs. recent lows.
In the news
Stock futures are rising, after indexes closed sharply lower Wednesday when the Federal Reserve raised interest rates by a quarter-point.
Swiss central bank hikes interest rates by 50 basis points despite Credit Suisse turmoil.
Everybody’s talking about deposit insurance.
OpenAI tech gives Microsoft’s Bing a boost in the search battle with Google.
Ford is about to break out big EV losses for the first time.
