News:
Markets opened the new week directionless.
The indexes opened mixed, moved sideways throughout the session and closed the day little changed…
- Dow Jones -0.2%
- Nasdaq +0.2%
- S&P 500 +0.1%
- Russell 2000 -0.3%
There was no major news items for the market to digest.
Sector Round Up
The sectors were split too.
3 finished higher, 1 flat, and 7 lower.
The winners…
- Communications (XLC) +1.0%
- Consumer Discretionary (XLY) +0.3%
- Financials (XLF) +0.2%
At the bottom…
- Materials (XLB) -0.3%
- Industrials (XLI) -0.4%
- Real Estate (XLRE) -0.7%
Technicals:
The Nasdaq is still looking like the strongest index in the market.
Monday’s mixed day was the highest close for QQQ since August…
For investors seeking risky bets, the markets are primed to reward.
Today’s reading favors the bulls…
- The VIX continued its decline
- RSI levels are neutral
- The Put-to-Call Ratio is oversold
Timing:
The market will get a chance to digest two big inflation reports this week.
We’re not expecting any big moves today ahead of these reports.
Watchlist:
*Low Float
^Open Position
*GDTC on watch
*USGO on watch
*NERV resistance at $6
ELEV on watch
BZH support at $20
SHAK on watch
PLX support at $3
GRBK on watch
COCO support at $22
AVDL support at $14
NNOX support at $14
HOOK support at $1.40
AQST support ta $1.80
OPRA support at $12
TNYA support at $6
SA support at $15
^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
IMGN on watch
UGP support at $3
SHOP on watch
UBER support at $38