Market Report Mar 22 2023

A bullish session with decreasing volatility on Tuesday takes us to Fed Wednesday.
The S&P 500 is testing its 50-day line while the Nasdaq Composite is already above both its moving averages and managed to test and close above the recent resistance.

The main European markets we follow, and the majority of the U.S. sectors jump on board the bullish momentum yesterday.

Amidst the recent turmoil, banking stocks managed some bullish price action after a Bloomberg report indicated the Treasury Department is looking at ways to guarantee all bank deposits.

Today we will all be anxious to find out if the Fed will raise or pause rates, and what Fed Chair Powell's explanation and reasoning will be.

Javid

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