Thursday's Markets Update (March 23, 2023)
On Thursday, while politicians in Congress were busy grilling Mr. Chew (TikTok's chief), and macroeconomic fundamentals such as home sales and jobless claims were released without any big surprises, traders had nothing to focus on except some minor technicalities on the daily graphs. For instance, they bought out BTC's Wednesday dip (o:27470, c:28369) and formed a continuation triangle for NASDAQ (o:11811, c:11787).
Home sales increased by 1.1 percent in February, following a 1.8 percent rise in January. Meanwhile, jobless claims increased slightly to 1,694K in the week ending March 11, up from 1,680K in the previous week, but still just above analysts' expectation of 1,680K.