5/15/23 Retail Earnings Ahead


The market sank on Friday.

The indexes closed the day mostly lower and little changed…

  • Dow Jones -0.0%
  • Nasdaq -0.4% 
  • S&P 500 -0.2%
  • Russell 2000 -0.2%

There was no significant news for the market to digest.

Photo by Elijah O’Donnell on Unsplash

Sector Round Up

The sectors were split. 7 of 11 ended Friday higher

At the top…

  • Utilities (XLU) +0.6%
  • Consumer Staples (XLP) +0.4%
  • Real Estate (XLRE) +0.2%

At the bottom…

  • Financials (XLF) -0.4%
  • Consumer Discretionary (XLY) -0.9%

Much of the consumer discretionary sector reports earnings this week. Investors appear to be prepping for disappointment.


The story is in the charts.

If the VIX holds below 18 & 20, the bears don’t have a chance…

VIX Daily Candles – Chart by thinkorswim

The lack of fear and volatility favors the bulls, and we remain steadfastly bullish.

We continue to monitor the market, but at this point, we see no reason to change.


Earnings continue this week.

Retailers are stepping up to the plate to tell us about their Q1. Here are the top stocks we’ll be watching…

  • Home Depot (HD) reports Tuesday Premarket
  • Target (TGT) Wednesday pre-market
  • TJ Maxx (TJX) also Wednesday premarket
  • Alibaba (BABA) Thursday premarket
  • Walmart (WMT) Thursday premarket


*Low Float
^Open Position

*NERV support at $6
*GSIT on watch
BLBD on watch
MAXN support at $32
APYX on watch
CRVS on watch
ASRT support at $7
COCO support at $24
NNOX support at $18
HOOK support at $1.80, resistance at $2
^CBAY support at $10
JELD support at $14
ARLO support at $8

Secondary watchlist—float 100+ million

RDFN support at $10
EVLV on watch
support at $2.50
MDGX support at $6
ACVA support at $14
XERS support at $2.50
RIOT resistance at $12, support at $10

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