5/20 Bullish. 240 Buying | 140 Selling.
T2108 is Bullish. Primary Indicator is Bullish. 20% Weekly is Neutral.
Stocks overcame the initial shock of Moody’s U.S. credit rating downgrade, with Treasury yields retreating and equities rallying for a sixth consecutive session amid buy-the-dip demand and optimism around congressional reconciliation efforts.
Health care (+1.0%) and consumer staples (+0.4%) led sector gains, while energy (-1.6%) lagged; volatility eased as VXX declined slightly, reflecting reduced market fear.
No major U.S. economic data is scheduled for Tuesday; earnings from AS, BILI, EXP, GDS, HD, HOV, VIK, and VIPS will be in focus.
Key Takeaway:
Swing traders should focus on tech and health care sectors showing strength, watching for continuation setups in large-cap tech names with rising volume. Manage risk near key support levels as market digests geopolitical and credit rating news, with cautious bullish bias given mixed sector breadth and neutral weekly indicator.
Watchlist
Continuation: TSLA (S1: 341, S2: 339.5, S3: 337.5, R1: 343, R2: 345, R3: 348)
Anticipation: NVDA (S1: 134.5, S2: 135, S3: 135.5, R1: 136, R2: 136.5, R3: 137)
