5/8/23 Hot Jobs Report Fan Bull’s Flames


US Employers added 253K new jobs in April, according to the latest government statistics.

Forecasters expected only 180K to be added.

Image from iStock

The announcement came only days after the Fed suggested interest rates are high enough, and there was no apparent reason to continue raising them.

Markets cheered the latest report. The indexes opened green and spent the day climbing higher. All four posted sharp rallies…

  • Dow Jones +1.7%
  • Nasdaq +2.3% 
  • S&P 500 +1.9%
  • Russell 2000 +2.4%

Sector Round Up

The rally was all-inclusive. Each of the 11 sectors ended the day higher

Leading the charge…

  • Energy (XLE) +2.7%
  • Technology (XLK) +2.5%
  • Financials (XLF) +2.5%

Only 3 sectors gained less than 1%. They were…

  • Consumer Staples (XLP) +0.9%
  • Healthcare (XLV) +0.9%
  • Utilities (XLU) +0.8%


Regarding The VIX, the key levels to watch are 18 and 20.

Today’s chart shows strong interaction with both of the key levels on Friday…

VIX Daily Candles – Chart by thinkorswim

Your take-home fear evaporated from the market after the jobs report dropped.

The single shadow above 20 on the VIX chart, followed by a near-instant retreat back below 18, tells us the bulls have the wind at their back.

Nothing more to report on this front…


This week is another blockbuster for earnings reports.

Here are the top earnings we’ll be watching…

  • Palantir (PLTR) Monday after-hours
  • Paypal (PYPL) ditto
  • Airbnb (ABNB) Tuesday after-hours
  • OXY (OXY) ditto
  • Roblox (RBLX^) Wednesday pre-market
  • Disney (DIS) Wednesday after-hours
  • Getty Images (GETY) Thursday after-hours


8 new names today. Bullish.

*Low Float
^Open Position

*^MDJH support at $2.50
*TKLF support at $1.60
*NERV resistance at $6
*HEAR support at $12
ELEV on watch
BZH support at $20
SHAK support at $60
PLX on watch
GRBK on watch
COCO support at $22
AVDL on watch
PRTA on watch
NNOX support at $14
HOOK on watch
AQST support ta $1.80
WW support at $7 / $8
TNYA support at $6
SA on watch
^TDUP support at $2.40
^CBAY support at $10

Secondary watchlist—float 100+ million

TIO support at $2.40
MDGX on watch
TGTX on watch
BLDR on watch
MWA support at $14
RIOT support at $10, resistance at $12
HIMS support at $10.50, resistance at $12
LXRX support at $3
IMGN on watch
DKNG support at $22
UGP support at $3
SHOP support at $55
UBER support at $36

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