Market Report Jun 22 2023

Written By Javid Shaik

US equities underwent a downturn on Wednesday following Fed Chair Powell's reaffirmation of the Fed's hawkish position during his bi-annual testimony before the House Financial Services Committee.
S&P 500 and Nasdaq could be forming a BuF but this could also be perceived as a top and reversing from those levels for the pullback we have been awaiting.

European main indices closed negative and there was a mixed look on US sectors.
Somewhat surprisingly, VIX actually fell 5%.

Javid Shaik
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Market Report Jun 21 2023