Trading Plan: 23 November 2022

Laurentiu Chisca
3 min readNov 23, 2022

Nasdaq (+1.36%) respected the recent support and it was rejected by the EMA21. This price action seems healthy and we might see higher prices. Nothing changed from my previous assessment, it will be better to see the price out of this small channel first to make bets. Watching the marked levels.

SP-500 (+1.36%) made a good advance but with smaller volumes. This is not necessarily bad, we are in a bear market. Of course, higher volumes were better. Still watching the marked levels for more clues.

In the news

Collapsed crypto exchange FTX has about $1.24 billion of cash in total — but still owes at least $3.1 billion.

Amazon launches second cloud region in India, pledges $4.4 billion investment.

Retail braces for wave of holiday phishing, ransomware scams.

Elon Musk names S. Korea among top candidates for EV investment.

Sectors

  • Best yesterday sector: Consume Defensive, then Utilities. Worst sector: Consumer Cyclical.
  • Best weekly sector: Consumer Defensive, then Utilities. Worst sector: Energy.
  • Best monthly sector: Real Estate, then Basic Materials. Worst sector: Communication Services.

Sentiment

  • NAAIM (weekly, neutral between 70 and 90): 64.96
  • VIX (neutral under 20): 21.29
  • Put / Call Ratio (neutral between 0.7 and 1):1.17
  • CNN Fear & Greed: 62 (Greed)

Breadth

  • Stocks above SMA40 (neutral between 30 and 80): 71.85%
  • Stocks above SMA200 (neutral above 30): 45.48%
  • Number of stocks that increased yesterday by more than 4%: 261
  • Number of stocks that decreased yesterday by more than 4%: 154
  • McClellan Oscillator (neutral between -125 and 100): 57.75

Earnings Reports

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Laurentiu Chisca

Trend Following Trader. Passionate about stock market, curious about new technologies and avid learner.