10/10/23 The War Already Forgotten


Headlines did their best to push fear into the market on Monday.

This morning, Israel appears ready to launch a full-fledged ground invasion to take control of the entire Gaza Strip.

Aftermath of Israeli Airstrike by Getty Images

But the market brushed it off … After a red open, stocks turned positive after lunch.

The indexes settled green and near their session highs…

  • Dow Jones +0.6%
  • Nasdaq +0.4% 
  • S&P 500 +0.6%
  • Russell 2000 +0.6%

Sector Round Up

All of the 11 sectors were green at the close.

Energy stocks soared, and oil prices spiked due to the Middle East conflict.

At the top…

  • Energy (XLE) +3.3%
  • Industrials (XLI) +1.6%
  • Real Estate (XLRE) +1.3%

Bringing up the rear…

  • Consumer Discretionary (XLY) +0.1%
  • Consumer Staples (XLP) +0.1%
  • Financials (XLF) +0.1%


The S&P 500 is pointing higher.

SPY Daily Candles – Chart by thinkorswim

After a week of consolidation at a key support level … the index, which represents 80% of the stock market’s value, posted a solid green candle with a higher high and a higher low.

We’re adding to our positions.

Your latest readout…


Our friends at the Stock Trader’s Almanac issued their seasonal buy alert after yesterday’s close.

Since 1950, their “MACD-timed switching strategy” resulted in significantly higher average gains than traditional buy and hold. 

We’ve been buying since last week.


*Low Float
^Open Position

*IMMX support at $3.75
*MTEK support at $1.30
*PEV resistance at $1.80
*GRPN support at $14
^*GLBS support at $2
LFMD support at $6.50
WW resistance at $12

Secondary watchlist—float 100+ million

LAAC support at $7
^TAL support at $8.50

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