Technicals | Jan 31 2023
By Michael Gable
The US market continues to sit around its 200-day moving average, give or take a few points, and the Australian market is looking very stretched and tired up here.
This week, we will most likely get another rate rise in the US. Markets are expecting 25 basis points, but 50 basis points is not out of the question. We are now looking to this event as potentially the next catalyst for markets to make a new move either higher or lower.
Because of this, finding new opportunities up at these levels in the large caps is fairly difficult. Stocks look extended and we don't have many reliable set-ups to initiate new trades.
However, there is still some movement in the small-cap space, and this week we have analysed the chart of Deep Yellow ((DYL)).
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