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12/6/23 Three Down, One to Go

News:

Markets held most of the recent gains on Tuesday.

The indexes opened red and trended gradually higher. The close was a mixed bag.

  • Dow Jones -0.2%
  • Nasdaq +0.3%
  • S&P 500 -0.1%
  • Russell 2000 -1.4%

Sector Round Up

Just 2 of the 11 sectors ended Tuesday’s session higher.

The winners were risk-on sectors…

  • Technology (XLK) +0.6%
  • Communications (XLC) +0.2%

At the bottom…

  • Industrials (XLI) -0.8%
  • Materials (XLB) -1.4%
  • Energy (XLE) -1.8%

Technicals: 

Fear remains absent from the market.

VIX Daily Candles – Chart from thinkorswim

A VIX below 16 isn’t seen outside of bull markets. And we haven’t touched that level in over a month.

Your latest readout…

Timing:

There are two more trading sessions to get through before the first big newsmaker of the month.

The November jobs report is due out Friday at 8:30 AM.

Watchlist:

*Low Float
^Open Position

*DRCT support at $12
*CHSN support at $4
*MYO support at $3.50
HRTG support at $8.50, resistance at $9.50
AAOI support at $16
HNST support at $2, resistance at $2.5

Secondary watchlist—float about 100 million

BLUE support at $4
AGRO support at $12
TALK support at $2
NMRK
support at $8, resistance at $8.50
CLSK support at $8
^IOT support at $32, resistance at $35
GPS on watch
AFRM support at $35
LYFT support at $12, resistance at $13
SID support at $3.35

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