News:
Markets rose for a second day ahead of the latest headline inflation data front the CPI report due out at 8:30 this moring.
The anticipation has the markets on edge.
All four major indexes ended Wednesday solidly in the green…
- Dow Jones +0.8%
- Nasdaq +1.8%
- S&P 500 +1.3%
- Russell 2000 +1.2%
Sector Round Up
All 11 sectors ended the day positive.
At the top…
- Real Estate (XLRE) +3.6%
- Consumer Discretionary (XLY) +2.7%
- Technology (XLK) +1.7%
In the rear…
- Consumer Staples (XLP) +0.1%
- Energy (XLE) +0.3%
- Healthcare (XLV) +0.6%
This morning all eyes are on the CPI report.
Technicals:
The VIX’s range is narrowing and the trend is clearly downward. That’s bullish…
Our current reading show that the markets have high hopes for 2023.
We’ll keep a close eye on our signals for signs of a change. Right now…
- RSI levels are all neutral
- The Put-to-Call Ratio is neutral
Timing:
In addition to the CPI report the latest weekly unemployment claims numbers will also drop at 8:30 this morning.
- Keep an eye on the market’s reaction to both these figures
- Ignore the headlines
Tomorrow, earnings season begins with several big banks reporting premarket.
Watchlist:
*Low Float
^Open Position
*NXTP on watch
*NEON resistance at $9
*BWEN support at $3.50
AEHR support at $27.50
RCON support at $1.40, resistance at $1.60
VYGR support at $8
EH support at $12
VRDN on watch
LX support at $3
WWE support at $89.50
GATO support at $4.50
FULC on watch
ARHS support at $12
^CROX on watch
^PRQR support at $3.25
RVMD support at $26
Secondary watchlist, float 100+ million
IRDM support at $54, resistance at $60
TGTX support at $12
EXAS on watch
BBWI support at $45
DADA support at $13
GERN resistance at $3
ROIV on watch