# Stock Market Today: Temp Top? March 6 2023

Canonical watch page: https://twitch-nude.com/watch/stock-market-today-temp-top-march-6-2023-v211408

Language: en

Published: 2023-03-07T07:15:58+00:00

Source creator: Full Time Trader me

Duration: 1226 seconds

## Description

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Stock Market Today March 6 2023 (Stock Market Analysis & News)

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Stock Market Today March 6 2023 (Stock Market Analysis & News)

Analyzing the stock market daily charts is a fundamental part of being successful as a trader or investor. In these daily stock market review videos we look at the MMRI risk indicator that uses a formula of the DXY & the 10 year treasury yield to gauge risk in stock market. 

 we also look at the S&P 500 as a representation of the entire stock market to get an idea of what direction SPY may move this coming week. 

We see on Fidelity's break down the SPY's portfolio composition that technology stocks make up almost 27%, health care stocks make up about 15%, financial stocks make up a little less than 11% and consumer discretionary around 10.48%. 

Since stocks from these four sectors have the most wait in the S&P 500 we look at the XLK technology ETF, XLV health care ETF, XLF financial ETF and XLY consumer discretionary eft weekly charts to gauge an idea of what SPY will do in the future. 

What ever SPY does puts weight on the general stock market to move that direction. For example if you are trading Ford (F) and the S&P 500 is moving sideways then chances are high Ford (F) will also move sideways. The same is true if SPY is moving up or down. 

IWM & QQQ combined with SPY & sectors that make up the SPY allow us to have a good indication of what the stock market will do from a technical analysis stand point. The dollar, oil, bitcoin, U.S. treasuries & gold are analyzed as well since they make up parts of the financial markets & money can leave the stock market to flow into other financial instruments or vise versa.  

To look at daily charts for technical analysis I use a combination of the Tastyworks brokerage charts & other recourses. 

On the Pro charts we look at daily & weekly stochastics, support resistance as well as moving averages. The pro 2 is a unique charting system because it measures money flowing in or out of an equity of the U.S. stock market. Since it does not chart Bitcoin or futures we use the Tastyworks charting platform for other things. Volume & moving averages on both charts. 

We also need to be aware of news that can cause moves in financial markets such as FOMC meetings, Federal Reserve interest rates, earnings reports, new equities, futures & even new assets that are optionable. 

While it is important to know stock market news today, market fundamentals & drivers maybe different than day to day news or events. The big picture is if money is flowing in or out of U.S. stock then depending on which way money is flowing choosing wise strategies to profit from whatever direction a stock price moves. 

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