Month: January 2023

Strong advance declines! Been going on past few days. Improving internals. Improving technicals. More sectors turning up.  

Today sucked. When markets open hot and finish badly, that is distribution. Coming after a very strong day, quite disappointing. DEFENSE, MANAGE CARE, BIG BIOTECHS worsening tops. Other HEALTHCARE may be topping. Juice today was in the worst high beta/tech areas but also came in hard by end of day. Maybe a better day tomorrow.

Mix in one part crappy economic numbers. Stir in strong bond market reaction tanking yields. Add a dash of plunging dollar. What do you get? The market held the lows of past three weeks and ramped off of it. The market now gets the chance to get back some of that ugly December.