News:
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.
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%
Technicals:
The S&P 500 is looking bullish…
Local support is holding right where you’d expect.
Your latest readout…
- The VIX is still very low
- RSI levels are all neutral
- The put-to-call ratio is marginally oversold
Timing:
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.
Watchlist:
*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
CAVA 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