Friday's Markets Update: (Jan 13, 2023)
Michigan Consumer Sentiment Index showing 64.6, Harker (Philadelphia FED President) non-committing remarks and the notable reduction of export prices helped to maintain the week-long bullish push at Jan 13.
However, fundamentals are not changed and Friday's continuation looks technical. NASDAQ gained 1.6 percent, while BTC was having its best time since March 2022 (on weekly). It advanced 3.2 percent during the day session and then added another 9 on after-hours (up to 21.2K).
Wiping out the 'FTX sink' from our charts feels good. Bulls saw new recruits joining their ranks. Positive sentiments prevail but sudden profit-taking might be severe.
Will it be just a trading zone change or some adventurous whales have enough nerves to risk a bigger game?