12/4 Cautiously Bullish. 650 Buying | 150 Selling.
% Stocks Over 50SMA is Bullish. Primary Indicator is Bullish. 20% Weekly is Neutral.
The market extended its rebound with broad sector participation despite tech weakness, positioning ahead of next week’s FOMC decision.
Semiconductors led with strong momentum and relative volume, while energy and financials showed notable strength; retail and consumer discretionary remain soft. VXX remains subdued, signaling limited fear despite mixed price action.
Key economic data showed a modest slowdown in industrial capacity utilization, implying easing inflation pressures.
Key Takeaway: Swing traders should focus on semiconductor and select AI/software leaders showing strong volume and momentum for continuation plays. Avoid broad retail exposure given ongoing weakness. Use intraday pullbacks to key support zones for entries, and maintain tight stops given mixed mega-cap tech signals and upcoming Fed event risk.
Watchlist
Continuation: PLTR (S1: 175.0, S2: 174.5, S3: 174.5, R1: 176.5, R2: 177.5, R3: 180.0)
Anticipation: TER (S1: 195.0, S2: 194.5, S3: 194.0, R1: 196.0, R2: 197.5, R3: 198.5)