Markets ended the first full week of trading in September on a positive note. On Friday, there was more buying than selling.
The indexes closed the day mostly higher…
- Dow Jones +0.2%
- Nasdaq +0.1%
- S&P 500 +0.1%
- Russell 2000 -0.2%
Sector Round Up
7 of the 11 sectors posted gains.
At the top…
- Energy (XLE) +1.0
- Utilities (XLU) +0.9%
2 sectors were unchanged
- Industrials (XLI) -0.5%
- Real Estate (XLRE) -0.7%
The bear, thus far, has failed to mount a fall offensive. No fear is coming into the market.
The chart above is The VIX. It typically has an inverse relationship with the market.
The lower the VIX, the higher the market climbs.
Currently, it’s holding on to levels that accompanied the longest bull market in history.
Your latest readout…
This week will start slow and finish fast.
The first big news event is set for Wednesday.
- CPI headline inflation data drops Wednesday premarket
- PPI will follow on Thursday
- 2023’s third triple witching will close out the week on Friday
Investors will cap the week pondering the Fed’s next move, which will be revealed next week. The FOMC meeting ends on Wednesday, September 20.
*GTEC support at $4
*GCT support at $14
PFIE support at $2.60, resistance at $3
REKR support at $3.50, resistance at $4
ESTE support at $20
GWRE support at $85
MAPS support at $1.50
TIGR support at $5, resistance at $5.50
Secondary watchlist—float 100+ million
TSHA support at $3.50
^IOT support at $30
^IONQ resistance at $20
BUR support at $14