- KWEB bounces off rising 50-MA to remain in my leadership group. 2. XBI, IBB names remains resilient and continues to build at group level. 3. New groups setting up its 2nd rally leg, JETS, IYG, FDRV & ROBO.
The intraday swing high/low of the market happened during Fed Chair Powell’s speech even with nothing surprising said. The perceived price action is that market bullish momentum resumes as major indexes bounces off their 10-MA.