Tuesday's Markets Update (April 11, 2023)

12 Apr 2023 by rate3

On Tuesday, the National Federation of Independent Business (NFIB) reported that its Small Business Optimism Index decreased by 0.8 points in March to 90.1 (previously 90.9, forecasted 89), marking the 15th consecutive month below the 49-year average of 98. The index reached this low twice before (on its way down): in 1980, amid the "Carter's recession," and in 2008 after the homes' mortgage epic debacle. However, this was not the reason traders dragged both NASDAQ (o:12080, c:12031) and BTC (o:30098, c:30130) sideways. It was rather technical. Both look heavily overbought on daily graphs, causing volatility.