11/14/23 Flat Open—Bears to Hibernate


Markets opened the final full week of trading in November on a flat note.

The major indexes ended the session mixed and near flat…

  • Dow Jones +0.2%
  • Nasdaq -0.2%
  • S&P 500 -0.1%
  • Russell 2000 +0.0%

Sector Round Up

The sectors generally reflected the indexes. 5 of the 11 ended Monday’s session higher.

At the top…

  • Energy (XLE) +0.7%
  • Healthcare (XLV) +0.6%

At the bottom…

  • Real Estate (XLRE) -0.9%
  • Utilities (XLU) -1.2%


The riskiest stocks in the market, small caps, are trying to establish a bottom.

The Russell 2000 has flirted with a long-term support level over the past two sessions and both days managed to close above it.

RUT Daily Candles – Chart from thinkorswim

We see a possible inverse head-and-should pattern forming.

At this point, there is no case for the bears.

Your latest readout…


Markets will be paying close attention to the CPI inflation report that is set to drop at 8:30 this morning.

Headlines will try to sensationalize the data. 

As always…

  • Never trust the first move
  • The market’s reaction should trump anything the numbers appear to say


*Low Float
^Open Position

*DRCT support at $4
*SHOT support at $1.80
TOI support at $2.25
^WRAP support at 2.75, resistance at $3
DUOL on watch
TAST support at $7.50
METC on watch
ALKT support at $20, resistance at $22
TLS support at $3.50, resistance at $4

Seconard watchlist—float about 100 million

KD support at $17
support at $30

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