$NIO TOP 20
Added 2023-10-04 12:27:55 +0000 UTCYesterdays market performance was as bloody as it gets, some of the biggest names were down substantially and selling increased as the day went on.
But I noticed that there was relative calm amongst our group.
Either this market has numbed everyone, as the relentless selling over the last 2 months is now having less of an effective on us....coupled with the opportunistic approach many are adopting now, they are seeing stocks that they have wanted to buy for months, now at a price shortly they are happy to buy at.
Either way I am happy to see this calm, it is a massive shift in perspective to what we first experienced in the group when Wave 4 started.
Overall, the 200 Day MA is now the magnet for the market, we may get a short relief bounce today due to yesterday's overreaction in selling but the 200 Day MA is the target and it could not be any closer!
$NIO performed relatively well in comparison (also another reason why the group was doing well)...there was no large flushes at the opening and the price stayed between -1 and -2% for the day, just at the 50 Day MA on the daily chart.
So we are on to another day, like I said, there could just be some relief today so this week we will maintain cautious towards the market.
