News:
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.
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%
Technicals:
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…
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 VIX fell to a new post-pandemic low
- RSI levels are all neutral
- The Put-to-Call Ratio is neutral
Timing:
The market will close out the short week today. Happy Friday!
Watchlist:
*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
GOL support at $4.50
RKLB support at $5.50, resistance at $6