5/30 Bearish. 180 Buying | 240 Selling.
T2108 is Bullish. Primary Indicator is Bullish. 20% Weekly is Bullish – Caution.
The market closed mixed after a volatile session driven by trade tensions with China, yet a strong personal income report and easing inflation underpin cautious optimism.
Consumer staples and utilities led sectors higher, while technology and semiconductors faced selling pressure amid geopolitical concerns and profit-taking after a strong monthly run. Volatility (VXX) remains subdued, reflecting low market fear despite headline risks.
Upcoming catalyst: Fed Chair Powell’s speech on Monday and April Construction Spending data will be key focus points for directional cues.
Key Takeaway:
Traders should remain cautious as trade-related headline risk and geopolitical uncertainty persist, despite underlying economic strength. Focus on defensive sectors like staples and utilities for stability, while watching tech and semiconductors for potential further weakness or relief rallies. Use tight stops near key support levels and avoid chasing breakouts until clearer momentum develops post-Fed commentary.
Watchlist
Continuation: UNH (S1: 297, S2: 300, S3: 302, R1: 306, R2: 308, R3: 310)
Anticipation: CRWD (S1: 462, S2: 466, S3: 467, R1: 468, R2: 470, R3: 472)
