Market experienced a highly robust day, with strength extending to various sectors at full capacity

Jeff_Sun
2023-06-16

16/6/2023 Market Diary

1. Market experienced a highly robust day, with strength extending to various sectors at full capacity. QQQ $Invesco QQQ Trust(QQQ)$ +1.19% MGK $Vanguard Mega Cap Growth Index Fund ETF Shares(MGK)$ +1.34% continues to display relative strength in its leadership.

2. QQQ $Invesco QQQ Trust(QQQ)$ now at a substantial distance of nearly 10% away from its 50-MA, which only happened once in the last decade (09/2020). Bullish bias short term breath have also reflected deceleration.

3. While market may continue to break new highs in mid-term, it is worth to dabble lightly for now.

4. FDRV $Fidelity Electric Vehicles and Future Transportation ETF(FDRV)$ join leadership board, WGMI $Valkyrie Bitcoin Miners ETF(WGMI)$ continues to build on higher lows.

5. Focus: $Microvast Holdings, Inc.(MVST)$ $New York Community(NYCB)$ $Alkami Technology, Inc.(ALKT)$ $Nasdaq100 Bear 3X ETF(SQQQ)$ $MicroSectors US Big Banks Index 3X Leveraged ETN(BNKU)$ $Direxion Daily Gold Miners Index Bear 2X Shares(DUST)$ $Direxion Daily Junior Gold Miners Index Bear 2X Shares(JDST)$

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