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12/19/23 It’s Been 5 Years

News:

Markets opened the new week mostly higher on Monday. 

…Though overall sentiment was mixed.

Image from Bloomberg

The indexes barely budged…

  • Dow Jones +0.0%
  • Nasdaq +0.6%
  • S&P 500 +0.5%
  • Russell 2000 -0.1%

Sector Round Up

8 of the 11 sectors ended Monday’s session higher.

At the top…

  • Communication (XLC) +1.2%
  • Consumer Staples (XLP) +1.0%
  • Energy (XLE) +0.8%

The losers…

  • Industrials (XLI) -0.0%
  • Utilities (XLU) -0.2%
  • Real Estate (XLRE) -0.3%

Technicals: 

Fear has no place in the current market.

VIX Daily Candles – Chart from thinkorswim

The VIX is holding near 3-year lows and shows no signs of being ready to move higher.

You can throw a stone and find a bear. But they are few and far between.

Right now, the market belongs to the bulls. We maintain—a short-term pullback is now overdue.

Your latest readout…

Timing:

Today marks the 5-year anniversary of the very first Trading for Keeps Watchlist.

It’s changed over the years, but the mission remains the same—Provide valuable insights into the market and keep it short.

We are planning an overhaul in the new year … Stay Tuned!

Watchlist:

*Low Float
^Open Position

*IMMX support at $6
*OPFI support at $4
^*MYO support at $4.50
ALXO support at $13
ZIMV on watch
CRGX support at $17
ABSI support at $2.50
ASPN support at $13
PRCH support at $2.25
JBGS support at $17

Secondary watchlist—float about 100 million

ESPR support at $2
RKT
on watch
GPS
support at $20
MOR support at $9
NMRK support at $9.50, resistance at $10
BVN on watch
S support at $24
LYFT support at $13, resistance at $16

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