2/10/23 Russell Dip Buy Time


Markets jumped to a higher at Thursday’s open but lacked conviction to maintain the gains.

Sellers pushed prices lower throughout the day and the indexes all closed lower for a second day…

  • Dow Jones -0.7%
  • Nasdaq -1.0%
  • S&P 500 -0.9%
  • Russell 2000 -1.4%

Sector Round Up

It was another day for the bears as all 11 sectors ended the day lower.

The smallest losers…

  • Consumer Discretionary (XLY) -0.2%
  • Consumer Staples (XLP) -0.4%
  • Technology (XLK) -0.6%

At the bottom…

  • Communications (XLC) -2.2%
  • Materials (XLB) -1.5%
  • Utilities (XLU) -1.4%

Notable Names

Image from Yahoo! Finance

This morning shares of Lyft (LYFT) are down 33%, a loss of nearly $2 billion in market cap.

  • Earnings showed an unexpected loss of 74 cents per share
  • The losses happened despite strong ridership numbers
  • The stock’s all-time low is $9.66 … at writing, it’s trading at $10.96

Futures are trading lower across the board this morning. Time to buy the dip?


The Russell 2000 is nearing support.

This could signal a turning point in this week’s selloff…

RUT Daily Candles – Chart via thinkorswim

Today’s setup could provide opportunities for short-term trades. Consider buying into significant dips. 

But if markets close at their lows, we wouldn’t hold over the weekend.

Little else to note this morning…


The University of Michigan is set to release its latest Consumer Sentiment Survey at 10 AM today.

  • Recent months have shown an increase in consumer confidence.


*Low Float
^Open Position

*BBAI support at $4
*IVDA support at $1.8
BLBD support at $16
DMTK resistance at $6
BSGM support at $1.20
AVRO on watch
QNST support at $16
MANU support at $24
DSKE support at $8, resistance at $9
CBAY support at $8
CDTX support at $1.60
WFRD support at $57
VKTX support at $10
^AI support at $22
SLQT on watch
^SOUN support at $4
SONO support at $20
OI support at $20
NYT on watch
SPPI support at $1
KD support at $14
AMRN support at $2

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