News:
Thursday was once again dominated by the bulls.
Each major index notch a second day of gains…
- Dow Jones +0.3%
- Nasdaq +1.5%
- S&P 500 +0.9%
- Russell 2000 +0.6%
Sector Round Up
Most sectors finished the day higher. But under the surface, the bull’s win was not as decisive.
Only 7 of the 11 sectors ended the day higher.
At the top…
- Technology (XLK) +2.1%
- Communications (XLC) +1.8%
- Consumer Discretionary (XLY) +1.6%
The only losers were…
- Utilities (XLU) -0.3
- Consumer Staples (XLP) -0.5%
- Real Estate (XLRE) -0.6%
The magnitude of the winner far outweighed the loss of the losers.
And once again, risk-on stocks were heavily favored.
Technicals:
The VIX moving lower. The Bulls are in charge. The market has no fear.
The only sign of lower prices comes from the Nasdaq…
- RSI levels are mostly neutral, the Nasdaq is now VERY overbought
- The Put-to-Call Ratio is neutral
Timing:
Today is the May options expiration. That could drive some volatility near the closing bell.
Next week will contain more news for the markets to react to. Until then, enjoy your weekend!
Watchlist:
*Low Float
^Open Position
*AMAM support at $12
*CLRO support at $2.25
*GSIT support at $5
*UIHC support at $5
APYX support at $6
ORMP support at $4, resistance at $6
CRVS on watch
SYM support at $30
NNOX support at $16
APLD on watch
XFOR support at $2
JELD support at $14
AZUL support at $8
NVTS support at $8
Secondary watchlist—float 100+ million
RDFN support at $10
EVLV support at $5
TIO on watch
ACVA support at $17
XERS support at $2.50
RIOT resistance at $12, support at $10
SANA support at $7
^IONQ support at $7
^NYCB support at $11
PLTR support at $10/$11