9/11 Cautiously Bullish. 375 Buying | 265 Selling.
% Stocks Over 50SMA is Bullish. Primary Indicator is Neutral. 20% Weekly is Neutral.
The market showed early strength driven by Oracle’s massive AI-related bookings surge and a deflationary August PPI print, pushing the S&P 500 and Nasdaq to record highs before fading into the close.
Technology and Energy sectors led gains with strong semiconductor performance, while Consumer Discretionary and Staples lagged. Volatility eased as VXX retreated from recent spikes, signaling reduced market anxiety.
Tomorrow’s key catalysts are the August CPI report and weekly jobless claims, which will influence Fed rate cut expectations and guide near-term momentum.
Key Takeaway:
Traders should focus on momentum plays in semiconductors and AI-related tech stocks, using strong support levels to manage risk. Avoid fading early session strength given the late-day pullback; instead, look for entries near support on pullbacks and watch CPI data for directional confirmation. Sector rotation into Energy and Financials offers additional swing opportunities amid cautious optimism.
Watchlist
Continuation: LITE (S1: 163, S2: 163.5, S3: 165, R1: 165.5, R2: 166.5, R3: 167)
Anticipation: UNH (S1: 346, S2: 345, S3: 343.5, R1: 348.5, R2: 350, R3: 352)