News:
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.
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.
Technicals:
The story is in the charts.
If the VIX holds below 18 & 20, the bears don’t have a chance…
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.
- RSI levels are neutral
- The Put-to-Call Ratio is neutral
Timing:
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
Watchlist:
*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
TIO support at $2.50
MDGX support at $6
ACVA support at $14
XERS support at $2.50
RIOT resistance at $12, support at $10