6/19 Cautiously Bullish. 300 Buying | 130 Selling.
% Stocks Over 50SMA is Bearish – Overbought. Primary Indicator is Bullish – Caution. 20% Weekly is Neutral.
The market digested geopolitical tensions and the Fed’s hold on rates with little net movement, reflecting cautious optimism amid uncertainty. Technology led gains, while energy and communication services lagged slightly; volatility eased notably with VIX down over 6%. Focus remains on upcoming economic data including the Philadelphia Fed Index and Leading Indicators, which could provide fresh directional cues.
Key Takeaway:
Traders should lean into selective long setups, prioritizing tech and resilient sectors showing momentum, while respecting overbought conditions and fading broad buying conviction. Watch for volume confirmation on breakouts near key support/resistance levels amid subdued volatility. Avoid chasing weak sectors or crowded trades until clearer macro signals emerge.
Watchlist
Continuation: CRCL (S1: 200, S2: 205, S3: 208, R1: 211, R2: 215, R3: 220)
Anticipation: CRWD (S1: 482, S2: 480.5, S3: 478, R1: 485, R2: 487.5, R3: 488)