$RSP -0.45% rejection of its declining 50-MA sent many stocks lower as new lows expanded from 104 to 162, while net NH/NL declined from -11 to -90. Leadership surfaced from $XLF +0.98% following positive reaction to earnings from $JPM +7.8%, $C +4.8% & $BLK +3.1% but $KRE -1.95% & $KBE-1.11% remains under pressure, contributing to overall weakness of $IWM -0.93%. $RSP is now pinched within its rising 10-MA, and declining 50-MA. 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.
...17/4/2023 Market Diary
-Rejection of declining 50-MA in $RSP -0.45% sent many stocks lower. New lows expanded from 104 to 162, net NH/NL declined from -11 to -90. -Leadership surfaced from $XLF +0.98% following positive reaction to earnings from $JPM +7.8%, $C +4.85,… pic.twitter.com/jFtvzmGxBO — Jeff Sun, CFTe (@jeffsuntrading) April
