$SPY closed at high, reclaiming its 200-MA in a session where market opened to weakness. Weekly gains were distinct in $XLY (+5.78%) and $XLK sectors (+4.62%) led by downbeaten small caps in EV,EV auto parts, crypto based, cloud computing and SAAS companies. Some momentum names with >40% weekly gains: $QS, $BITF, $HUT,$RIOT, $MARA, $HIVE, $SOLO, $ARVL, $FFIE, $AFRM, $RUM, $OPEN, $OPAD. Thanks for reading. PS: If you enjoy the above curated article, you may follow me on twitter (@jeffsuntrading) to get daily market diary, trading ideas and market updates.

15/1/2023 Market Diary & Playbook

– $SPY closed high reclaiming 200MA when market opened to weakness
– Weekly gains distinct in $XLY & $XLK led by downbeaten grps in $FDRV, $BITW, $IGV
– Some momentum names from above: $QS, $HUT, $MARA, $HIVE, $SOLO, $FFIE, $AFRM, $RUM, $OPEN pic.twitter.com/0CQavgOlhl — Jeff Sun, CFTe (@jeffsuntrading) January 15, 2023