The Lund Loop Daily Update - 03/27/23
Tech took the day off today, which makes senses, because, as the QQQ chart above shows, we’re at a decent resistance level right now. The good news is the longer we base below that level the more likely any break above it holds.
What was good to see today was better relative strength in the Russell 2000 given its recent underperformance. However, it’s still in rough shape and needs to show some sustained strength, more specifically, a close above the 179.20 level.
For more on this, check out today’s ‘Daily Update’ video below.
Market Snapshot
Sectors: 8 out of 11 sectors were UP.
- Winner: Energy +2.10%
- Loser: Communication Services -1.08%
Daily Update Video & Watchlists
Charts of interest: AAPL 0.00 AMZN 0.00 USO 0.00 NVDA 0.00 TSLA 0.00 GOOGL 0.00 SPOT 0.00
Note: The cash tags above are a new feature for Substack and the quotes still look a little wonky so refer to the prices in the ‘Daily Update.’
Check out this short video for a full explanation to use the Lund Loop watchlists to identify potential profit opportunities.
Click the links below for the ‘Daily Update’ video and to view the current watchlists & setups.