News:
Markets opened the new week to some selling on Monday.
The major three indexes ended the session lower. But the 4th index we track managed a small gain…
- Dow Jones -0.0%
- Nasdaq -1.2%
- S&P 500 -0.5%
- Russell 2000 +0.1%
Under the surface, there was a bullish tilt. 53% of all listed stocks posted gains, while 43% declined.
Sector Round Up
6 of 11 sectors ended Monday higher. The magnitude of the winners far outpaced the magnitude of the losers.
At the top…
- Real Estate (XLRE) +2.2%
- Energy (XLE) +1.8%
- Materials (XLB) +1.0%
All the risk-on sectors rounded out the bottom…
- Technology (XLK) -0.7%
- Communications (XLC) -1.0%
- Consumer Discretionary (XLY) -1.3%
Technicals:
The VIX remains extremely low despite the week-long selloff…
A VIX below 16 is about as bullish a sign as the market can give.
Your latest readout shows the market has returned to balance…
- RSI levels are all neutral
- The Put-to-Call Ratio is neutral
Timing:
Just 4 trading days remaining in Q2. We’re almost halfway through the year.
Watchlist:
*Low Float
^Open Position
*GRNQ support at $2.20
*PPSI support at $8
CABA support at $13
GASS support at $3.80
TALS support at $3
ORIC on watch
^CIFR resistance at $3
SWBI support at $12.50
ONCY support at $2.25
HEPS on watch
EOSE support at $3.50
BTBT support at $3.50
PDCO support at $31
MRNS support at $10
Secondary watchlist—float 100+ million
GOL support at $4.50, resistance at $5
ABCM on watch