Further broad based buying left all 11 sectors in positive territory, although $XLP registered the slimmest gain (+0.06%). $MGK (+2.1%) a standout performer against major indexes ($QQQ +1.4%), with $XLK and $XLC logging the biggest sectoral gain. With all major indexes reclaiming its 10-MA from Friday’s rally, declining 20-MA remains the only MA resistance while we enter the new week with 2 days of testimony from Fed Chair Powell for fresh insights on the future path of interest rates. Thanks for reading. PS: If you enjoy the above curated article, you may follow me on twitter (@jeffsuntrading) to get daily market diary, trading ideas and market updates.
6/3/2023 Market Diary
-Broad based rally, all sectors +ve though $XLP registered slim gain (+0.06%) – $MGK (+2.1%) standout against major indexes ie. $QQQ, $XLK & $XLC logged largest sectoral gain -Fresh insights for rates in 2 days of testimony frm Fed Chair ahead Read
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