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As we ended the first quarter of 2023, the indices experienced an important technical week last
week, surging to multi-week, and in some cases, multi-month highs.
Last week’s sharp reversal higher came right where it technically really needed to on Thursday.
Can Overhead Resistance Be Taken Out
Last week the indices initially failed to get a strong enough follow through to the prior week’s rally and suffered a strong pullback retest..
Start of a New Intermediate Uptrend or a Rally Back to Resistance? The Indices had an important technical week last week, following through to the VERY strong upside
reversal that occurred on Friday, January 6th.
Is a Sharp Rally in the Horizon for the Start of 2023 or Will They Sink Even Further?