Trading Plan: 3 April 2023

Nasdaq (+1.74%) made a very positive move with solid volumes and is now close to a recent resistance. We might see a consolidation here before going farther up, probably a handle in progress (see also the McClellan Oscillator in the Overbought territory). Watching the EMA21 as well as a potential downside.

SP-500 (+1.44%) made also a good advance above the downtrend line and all the key averages. The price will be soon in a congested area so some sellers are most likely to appear. Watching the resistance vs. key averages.

In the news

Oil prices surge 8% after OPEC’s surprise output cuts; analysts warn of $100 per barrel.

Tesla reports 422,875 deliveries for the first quarter of 2023.

McDonald’s temporarily shuts US offices, prepares layoff notices.

ChatGPT banned in Italy over privacy concerns.

Sectors

• Best yesterday sector: Consumer Cyclical, then Real Estate. Worst sector: Energy.
• Best weekly sector: Energy, then Consumer Cyclical. Worst sector: Communication Services.
• Best monthly sector…