8/8/23 Bucking Up


Markets opened the new week on a positive note.

On Monday, the indexes all posted gains…

  • Dow Jones +1.2%
  • Nasdaq +0.6% 
  • S&P 500 +0.9%
  • Russell 2000 +0.1%

Under the surface, the bull’s victory wasn’t decisive. 

From Finviz

56% of all stocks finished higher, 41% declined.

Sector Round Up

The bull’s push was broad. 10 of the 11 sectors posted gains.

At the top…

  • Communications (XLC) +1.6%
  • Financials (XLF) +1.4%
  • Real Estate (XLRE) +1.3%

The loser…

  • Utilities (XLU) -0.0%


The S&P 500 is looking bullish…

SPY Daily Candles – Chart by thinkorswim

Local support is holding right where you’d expect.

Your latest readout…


Inflation report week is upon us. The market will digest two major inflation reports this week.

  • CPI drops on Thursday
  • PPI is on Friday

If the market can get through these reports without any major sell-off, then the bulls should have no trouble reemerging this fall.


*Low Float
^Open Position

*CLEU support at $2
EYPT support at $12
AAOI support at $11
AGS support at $7.50
EH support at $20
NRDY support at $5
GDRX support at $8, resistance at $9.25

Secondary watchlist—float 100+ million

HLLY support at $6.50
support at $52
^RGTI support at $2.25
AMRX on watch
KTOS support at $16
RKT support at $11
CGI resistance at $3.25
BGC support at $5
^PLTR support at $18

Leave a Comment

Your email address will not be published. Required fields are marked *