News:
Friday’s session was remarkably bullish.
All the major indexes surged higher as short sellers got crushed…
- Dow Jones +0.5%
- Nasdaq +1.9%
- S&P 500 +1.0%
- Russell 2000 +1.4%
Sector Round Up
Risk-on stocks led as 9 of 11 sectors ended Friday’s session in the green
The top three…
- Communications (XLC) +2.0%
- Consumer Discretionary (XLY) +1.7%
- Technology (XLK) +1.4%
The losers…
- Utilities (XLU) -0.2%
- Real Estate (XLRE) -0.3%
Technicals:
The Nasdaq is looking strong heading into this week’s big earnings reports.
The summer fade has yet to surface as local support, marked on the chart above, is holding.
Your latest readout…
- The VIX is still at historically low levels
- RSI levels are nearing overbought
- The put-to-call ratio is neutral
Timing:
Here is your August outlook:
- August 4 – Employment Situation
- August 10 – CPI headline inflation
- August 11 – PPI inflation report
- August 16 – FOMC Munites release
- August 18 – Options Expiration
- August 30 – Q2 GDP Revision
- August 31 – PCE inflation report
This week’s top earnings:
- Pfizer (PFE) Tuesday premarket
- AMD (AMD) Tuesday after-hours
- Pinterest (PINS) Tuesday after-hours
- Amazon (AMZN) Thursday after-hours
- Apple (AAPL) Thursday after-hours
Watchlist:
*Low Float
^Open Position
*AURC on watch
*ULBI on watch
URGN on watch
AMSC support at $8
EYPT support at $10, resistance at $11
EH support at $20
^OSTK support at $32.75
UPST support at $60
NRDY support ta $4.50
AIXI support at $6.50
WW support at $10
QSI support at $3
MVST support at $2.50
Secondary watchlist—float 100+ million
CAVA support at $48
SEEL support at $1.40
TALK support at $1.40
MKFG resistance at $2
^IONQ support at $16
QS support at $12
XPEV on watch
^PLTR support at $16, resistance at $18