Market Report Mar 21 2023

As the market prepares for Powell on Wednesday, the indices did manage to gain during Monday's session.
The S&P 500 is back above its DVI but still below its 50MA.
Nasdaq Composite is above both its moving averages and looks the better prospect. It is currently dealing just below its resistance level.
Mega-caps had mixed action yesterday and with UBS offering to buy CS gave a slightly calming effect to the market.

As well as all the indices providing a positive return yesterday, all the sectors managed the same as did the three main indices from Europe.

Going into Wednesday, are we witnessing a bear market rally or will the Fed's actions allow for the bull rally to unfold? A lot will depend on tomorrow but with the CS buyout, some pressure has been taken off Powell's shoulders.

Stay frosty.

Let's go trade!