11/3/23 It’s a Bull Market You Know


Markets soared during Thursday’s session. A whopping 82% of all listed stocks closed the day with gains.

Table from Finviz

The indexes closed at their session highs, yet again…

  • Dow Jones +1.7%
  • Nasdaq +1.8%
  • S&P 500 +1.9%
  • Russell 2000 +2.7%

The gains come on the heels of the latest FOMC decision. The Fed is being extra cautious, and the market’s betting that rate hikes are over.

Sector Round Up

All 11 sectors closed green with gains exceeding 1%.

At the top…

  • Real Estate (XLRE) +3.1%
  • Energy (XLE) +3.0%
  • Consumer Discretionary (XLY) +2.6%

Bringing up the rear…

  • Healthcare (XLV) +1.6%
  • Communications (XLC) +1.3%
  • Consumer Staples (XLP) +1.3%

Notable Names

It was easy to find winners on Wall Street. Big winners were common, too.

Image from Queen Bee’s Kitchen

Several household names posted outsize returns after reporting earnings or releasing preliminary results. Those include…

  • Beyond Meat (BYND) +18%
  • Roku (ROKU) +31%
  • DoorDash (DASH) +16%
  • Shopify (SHOP) +22%
  • Palantir (PLTR^) +20%


Yesterday’s rally confirmed our theory. The market wants higher prices. 

The S&P 500’s chart tells the story…

SPY Daily Candles – Chart from thinkorswim

The marked area of support held up exactly as expected … and at the exact time the market loves to bottom.

Everything we see reads bullish.

Your latest readout…


At 8:30, before the market opens today, the latest Jobs Report is scheduled to drop.

Expect the market to react. How strong that reaction will be is anyone’s guess.


*Low Float
^Open Position

*GMM on watch
*SHOT resistance at $1.60
WRAP support at $2.20, resistance at $2.80
LPG on watch
ATGE on watch
ALKT support at $19
SRRK support at $12
BHVN support at $28
POWW support at $2.80

Seconard watchlist—float about 100 million

AUTL resistance at $3.40
PBI resistance at $4
PINS resistance at $30

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