From the Desk of Kimmy Sokoloff

Talks over the debt ceiling are still going on, and the futures are higher in hopes of an outcome.

The 410 area has been a solid support level for $SPY. We've broken below there for short periods, but we continue to hold it.

This is the video recording of the May 2023 Mid-month Conference Call.

From the Desk of Kimmy Sokoloff

And, once again, this market is range-bound...

There are still opportunities out there, you just have to look for them.

We had a resting GTC order filled at our profit target in the Paid-to-Play portfolio today:

From the Desk of Ian Culley @IanCulley

Dollar up… 

Everything else? 

Down.

Last Friday’s action sent flashbacks of 2022 across my screen.

It was all King Dollar last week as risk assets and bonds sold off in tandem.

But before we all get carried away talking about the next leg higher for the dollar, let’s zoom out to get a read on where the DXY truly stands…

In the middle of a short-term range.

The US Dollar Index $DXY finished last Friday, posting its best week since peaking in late September 2022.

But it’s been stuck between 105 and 101 since December:

The DXY might have gained 1.5% last week, but it’s stuck below a key retracement level. It’s a range-bound mess like much of the market despite the recent bout of strength. 

Sideways is the trend.

The next new position in our Paid-to-Play portfolio is:

The largest insider buy on today's list comes in a Form 4 filed by the co-founder and executive vice-president of DISH Network Corporation $DISH, James DeFranco.

DeFranco revealed a purchase of $18.5 million worth of DISH shares.

From the Desk of Kimmy Sokoloff

The market awaits debt ceiling negotiations, and we have quite a few Fed speakers today as well.

We're still in a range, and time will tell which way we break.

From the Desk of Steve Strazza @Sstrazza.

Welcome back to Under the Hood, where we'll cover all the action for the week ended May 12, 2023. This report is published bi-weekly and rotated with The Minor Leaguers.

What we do here is analyze the most popular stocks during the week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them. 

We use a variety of sources to generate the list of most popular names.

There are so many new data sources available that all we need to do is organize and curate them in a way that shows us exactly what we want: a list of stocks that are seeing an unusual increase in investor interest.

From the Desk of Kimmy Sokoloff

The market was full speed ahead today.

And $SPY held on to the 410 support area once again...

The caution flag is flying.

Broad selling pressure is hitting the markets as gold, silver, and mining stocks slide.

Will the Fed hike? Will it cut? Or will it finally pause?

I have no idea, and nor does anyone else.

But gold’s crazy cousin has some definitive answers for precious metals bulls…

The caution flag is flying.

Broad selling pressure is hitting the markets as gold, silver, and mining stocks slide.

Will the Fed hike? Will it cut? Or will it finally pause?

I have no idea, and nor does anyone else.

But gold’s crazy cousin has some definitive answers for precious metals bulls…

The 24.75 level in silver marks the spot for the entire precious metals space.

Why?

Silver is the high-beta play. So if investors are pulling risk off the table, that key polarity zone in silver is most likely the first level to fall.

Last Wednesday, silver futures sliced through that critical level.