4/21 Cautiously Bullish. 250 Buying | 50 Selling.
T2108 is Bullish – Oversold. Primary Indicator is Bearish – Caution. 20% Weekly is Neutral.
Mixed index action amid earnings-driven volatility; S&P and Nasdaq near flat while Dow lags due to UnitedHealth’s steep sell-off. Breadth positive with small/mid-caps leading gains. Housing and Philly Fed data signal softness in demand and affordability constraints.
Defensive sectors show resilience; healthcare dragged by UNH’s guidance cut. Technology holds up with strong momentum in names like ANSS and GME. Volatility remains contained with VXX spikes modest.
Monday brings March Leading Indicators data, which could influence near-term market direction.
Key Takeaway:
Traders should exercise caution given mixed technical signals and headline-driven swings, especially in healthcare stocks like UNH. Focus on tech and small/mid-cap strength while respecting resistance levels. Use tight stops near support and avoid chasing names with stretched valuations or unclear catalysts. Prepare for potential volatility around economic data Monday.
Watchlist
Continuation: ANSS (S1: 301.5, S2: 300, S3: 298, R1: 306, R2: 308.5, R3: 310)
Anticipation: MNPR (S1: 38.5, S2: 38.5, S3: 38.5, R1: 39.5, R2: 40, R3: 40.5)
