5/9/23 Inflation In Focus


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%


The Nasdaq is still looking like the strongest index in the market.

Monday’s mixed day was the highest close for QQQ since August…

QQQ Daily Candles – Chart by thinkorswim

For investors seeking risky bets, the markets are primed to reward.

Today’s reading favors the bulls…


The market will get a chance to digest two big inflation reports this week.

  1. CPI on Wednesday morning
  2. PPI drops Thursday morning

We’re not expecting any big moves today ahead of these reports.


*Low Float
^Open Position

*GDTC on watch
*USGO on watch
*NERV resistance at $6
on watch
BZH support at $20
SHAK on watch
PLX support at $3
GRBK on watch
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

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