6/23/23 Perking Up


Markets finally seemed to find their footing on Thursday. While it was not a decisive victory for the bulls, the bears didn’t show up.

Image from Wikipedia

The indexes ended the mixed and tilted green…

  • Dow Jones -0.0%
  • Nasdaq +1.0% 
  • S&P 500 +0.4%
  • Russell 2000 -0.8% 

Sector Round Up

The sectors remained divided. 5 of the 11 sectors ended Thursday higher.

This time the risk-on sectors were at the top…

  • Consumer Discretionary (XLY) +1.3%
  • Technology (XLK) +0.8%
  • Communications (XLC) +0.8%

At the bottom…

  • Financials (XLF) -0.8%
  • Energy (XLE) -1.3%
  • Real Estate (XLRE) -1.4%


Headlines have been saying the rally is “cooling.” But a look at the long-term chart of the S&P 500 reveals a different story…

SPY Daily Candles – Chart by thinkorswim

The market has been on a tear and needs to find acceptance of the new high prices.

We’re watching the $430 level, where support could hold, and the market could rip higher once again.

Your latest readout…


The market will close out the short week today. Happy Friday!


*Low Float
^Open Position

*GRNQ support at $2.20
*MGOL support at $2.75
*PPSI support at $8
INOD support at $12
GASS support at $3.60
^CIFR resistance at $3
^PLAB support at $24
OSG support at $4
ONCY support at $2.20
HEPS support at $1.50
BTBT support at $3.50
PDCO support at $31
MRNS support at $10

Secondary watchlist—float 100+ million

KTOS support at $14.50
TMC resistance at $1.60
support at $4.50
RKLB support at $5.50, resistance at $6

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