Market Report for Jan 20 2023
Is the market retreat just profit-taking or the start of a new bear trend? Either way, we have taken some profits and managed trades on Thursdays session.
The weekly initial claims have fallen to the lowest levels since September 2022 ad with inflation perhaps slowing down, all is looking good.
All three major averages closed in the red with just three sectors ending the session positive. VIX has remained slightly above 20.
Overall, no major concerns but the market certainly has our attention.
Let’s go trade!