9/8/23 It’s a Toss Up—The Chart You Need to See Today


Markets opened lower on Thursday and rose throughout the day.

But buyers weren’t over to overcome the red open. 

Charts from Finviz

The indexes closed the day mostly lower…

  • Dow Jones +0.2%
  • Nasdaq -0.9% 
  • S&P 500 -0.3%
  • Russell 2000 -1.0%

If you’re looking for a clear catalyst, keep looking. We warned you September is a bad month for stocks.

Sector Round Up

The sectors split, 5 of the 11 ended the day with gains.

At the top…

  • Utilities (XLU) +1.3%
  • Real Estate (XLRE) +0.8%
  • Healthcare (XLV) +0.5%

At the bottom…

  • Industrials (XLI) -0.3%
  • Materials (XLB) -0.5%
  • Technology (XLK) -1.1%


It’s a toss-up.

Take a look at today’s chart. We’ve highlighted the important stuff…

DIA Daily Candle – Chart by thinkorswim

The chart above represents the Dow Jones.

  • Yellow marks the major trendlines and the most critical level of resistance/support
  • Orange arrows mark some past green/red candle turning points
  • Purple marks a red/green pattern at the same level

Following through buying today would put the wind back in the bull’s sails. But the narrowing range suggests upside is limited

Futures are lower this morning.

We are waiting to see which way the trend breaks.

Your latest readout leans bullish…


Today marks the end of the week and a welcome to fall.

The autumn news cycle starts next week. Look for your latest weekly outlook on Monday morning.


*Low Float
^Open Position

*GTEC support at $3.5 / $4
PFIE support at $2.60, resistance at $3
OLMA support at $11
REKR support at $3.50, resistance at $4
WW support at $11, resistance at $12
ESTE support at $20
MAPS support at $1.50
TIGR support at $5, resistance at $5.50

Secondary watchlist—float 100+ million

TSHA support at $3 / $3.50
^IOT support at $30

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