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[Week 21 - 2023] Trades Recap and Trade Setups

Updated: May 22

Hey Traders,

Risk on dominated the market as sentiment remain positive throughout the week with the S&P500 index breaking out of the consolidation towards the upside. However, momentum stalled on Friday as the negotiation on U.S. debt ceiling were put on hold in addition to Powell cautious speech. The concern over debt ceiling is overemphasized as they are usually short term events, as such upside momentum for risk on momentum may stall but bullish sentiment remains.

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