12/4 Cautiously Bullish. 0 Buying | 150 Selling.
% Stocks Over 50SMA is Bullish. Primary Indicator is Bullish. 20% Weekly is Neutral.
Major averages extended their rebound with broad sector participation despite tech weakness, led by energy and financials, as the market awaits next week’s FOMC decision. Semiconductors showed clear leadership intraday, while retail and consumer discretionary exhibited mixed to soft performance. Volatility remained subdued with no sharp spikes in VXX, indicating a calm but watchful environment.
Energy (+1.8%) and financials (+1.3%) outperformed, supported by rising crude and strong banking names, while tech lagged slightly due to weakness in mega-caps like MSFT and NVDA. Small caps held firm, suggesting selective risk appetite.
Key upcoming catalyst: Weekly Initial Claims and natural gas inventories on Thursday morning will provide fresh economic data ahead of the FOMC meeting next week.
Key Takeaway: Swing traders should focus on semiconductor and energy names showing momentum and relative strength, using pullbacks near support for entries. Avoid broad retail and mega-cap tech until clearer follow-through emerges, and manage risk tightly given mixed volume signals and moderate selling pressure. Watch for sector rotation and volume spikes as clues for directional conviction.
Watchlist
Continuation: PLTR (S1: 175.0, S2: 174.5, S3: 174.5, R1: 177.0, R2: 178.0, R3: 180.0)
Anticipation: LITE (S1: 301.5, S2: 301.5, S3: 300.0, R1: 306.0, R2: 308.0, R3: 310.0)