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The stock market closed out the week with decent losses and ended with most major indices losing approximately 2.5% for the 5 sessions.
Last week started with a bang, spiking 100 SPX points off the early Monday low, only to get more than a .618 Fibonacci pullback/retracement on Thursday & Friday.
The indices experienced a dramatic and technically significant end of week rally on Friday that saw the Indices surge sharply through 4 week declining channel tops resistance lines and took out a couple of lateral price resistance levels as well. The surge was...
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.