DailyPlay Updates – September 15, 2023

Investment Rationale

Data out of China has started to stabilize as Industrial Output and Retail Sales both surprised to the upside. As we look at how markets are digesting the strength of the US economy alongside a potential stabilization across China, we see that the S&P 500 is currently rallying up to its key $4550 resistance level. A break above that would suggest the start of a new bullish trend, while a rejection at those levels targeting $4330 to the downside. Currently our DailyPlay portfolio is positioned net long with a couple of hedges against a downturn using technology stocks. I currently do not feel the need to add more exposure, preferring to wait and see how the market reacts to reaching those upside targets first. I hope that you have a wonderful weekend!