INFOCUS 11-6-2023
INDEX.htm
10-year rate shorts moved up from their 65-dma and that began
a wave of profit-taking to sectors
of the market directly
influenced by interest rate
flucutations, as well as IWM
and many smaller companies.
It remains to be seen now
if the big indexes and their
indexes will stay strong because
Professional buying will continue.
Judge which indicator best controls
the swings of a stock: Closing Power
or Relative Strength Quotient. In
MSFT's cas it seems to be RSQ.
Charts here:
DJI and DIA at 65-dma. Note Buy B12 from
Peerless
SPY, QQQ, NASDAQ (COMPQX), at falling 65-dma
but still "blue" and rising. NVDA, AAPL and MSFT
rose again.
Low Power Ranking stocks mostly fell to profit-taking
as short-covering ebbed.
Homebuilders accepted profit-taking. NAIL fell back
from its 65 dma
Weak was UCO
Retail stocks showed a "red" candle-stick
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Very Low Power Ranking
Also