Market remains constructive, more sectors and groups are participating even on pullback

Jeff_Sun
2023-06-21

21/6/2023 Market Diary

1. A welcoming consolidation in the market after a big recent run. Remarkable that major indexes were able to close off their session lows thanks to MGK $Vanguard Mega Cap Growth Index Fund ETF Shares(MGK)$ -0.14% recovery from early weakness. MGK was -0.9% intraday.

2. Strongest group move were in Bitcoin related ETFs, $Grayscale Digital Large Cap Fund LLC(GDLC)$ +13.14%, $Valkyrie Bitcoin Miners ETF(WGMI)$ +9.74%, $Bitwise 10 Crypto Index Fund(BITW)$ +7.12%, which may set them on track to continue their market leadership in 2023. BTCUSD was up +5.19% while GBTC +11.44% for the day. WGMI could be the first +200% group in 2023 (currently +196%)

3. KWEB $CSI China Internet ETF(KWEB)$ China pullback to 50-MA and 200-MA zone. Further consolidation would present opportunity.

4. ARGT $Global X MSCI Argentina ETF(ARGT)$ Argentina closed new all time high. EWZ $iShares MSCI Brazil ETF(EWZ)$ Brazil closed YTD high.

5. Market remains constructive, more sectors and groups are participating even on pullback.

6. Focus: $Intuit(INTU)$ $StoneCo(STNE)$ $Goosehead Insurance(GSHD)$ $Microvast Holdings, Inc.(MVST)$ $Nordic American Tankers(NAT)$ $Novavax(NVAX)$ $Nikola Corporation(NKLA)$ $Trupanion(TRUP)$ $MicroSectors US Big Banks Index 3X Leveraged ETN(BNKU)$

ImageImage

US Stocks Opportunities
Here are a theme that collects the best quality or your most bullish US stocks, Share your thoughts here!
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment