| 
March 13, 2023
After ending the previous trading day at 3,861.59, the S&P went up to 3,905 only to drop back; still positive overall today, now trading at 3,867.48.
Both stocks and bonds tracking well in the middle of the trading session; the iShares U.S. Treasury Bond ETF has gone up 0.93% to trade at $23.27, thereby indicating that government bond yields were downbeat across the yield curve.
At the same time, United States Participation Rate (Feb) released today at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.
The MACD is significantly below its signal line which suggests that the existing bearish sentiment is beginning to swing around toward a more bullish outlook. The S&P's lower Bollinger Band® is at 3,850, indicating that the market is oversold and fertile for new buyers. On the other hand, note that the S&P could be slowing down soon as it approaches resistance at 3,915. Of course, crossing it might suggest further gains are ahead.
The S&P continues to move higher with technical analysis indicating the trend will continue in the short term.
Meanwhile, DAX closed at 14,959 (down 3.04%). CAC is down to 7,011.5, losing 209.17 points, after closing at 7,220.67 in the preceding trading session. After ending Friday's session at 7,748.35, FTSE lost 199.72 points and is trading around 7,548.63.
Furthermore, the market is looking at United States Consumer Price Index figure is projected at 0.4%. It previously stood at 0.5%; data will be released tomorrow at 12:30 UTC. United States Consumer Price Index figure is projected at 6%. It previously stood at 6.4%; data will be released tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC.
The index has been trending lower for about a month. Having set a significant high of 4,631.6 11 months ago, the S&P 500 is trading 16.63% lower.
