Historically, the day after Labor Day is a weak day for the markets.
Tuesday’s session followed the norm.
The indexes settled modestly lower…
- Dow Jones -0.6%
- Nasdaq -0.1%
- S&P 500 -0.4%
- Russell 2000 -2.1%
Sector Round Up
The sectors were split … with a bearish tilt.
Just 3 of 11 ended the day higher.
- Energy (XLE) +0.5%
- Technology (XLK) +0.4%
- Consumer Discretionary (XLY) +0.1%
At the bottom…
- Utilities (XLU) -1.5%
- Industrials (XLI) -1.7%
- Materials (XLB) -1.9%
According to the chart, yesterday’s selling was insignificant.
The S&P 500 is holding well above all local and long-term support levels.
Remember this … markets don’t move in straight lines.
Your latest readout…
A few former meme stocks report earnings today.
- Express (EXPR) reports premarket
- GameStop (GME) reports after the close
Both stocks are well off their meme-mania highs. But you never know what might happen in an earnings call.
We’ll be watching the market’s reaction.
*HOLO support at $9
*CLRB support at $2.20
*TSAT support at $18, resistance at $20
CAL support at $28
PFIE support at $2.60, resistance at $3
OLMA support at $11
BLRX on watch
REKR support at $3.50, resistance at $4
ESTE support at $20
MAPS support at $1.60
TIGR support at $5, resistance at $5.50
Secondary watchlist—float 100+ million
TSHA support at $3
^IOT support at $30