7/15 Cautiously Bullish. 310 Buying | 170 Selling.
% Stocks Over 50SMA is Bearish – Overbought. Primary Indicator is Bullish. 20% Weekly is Neutral.
The market showed resilience despite tariff threats, with modest gains led by mega-cap tech and financials ahead of key CPI data and a busy earnings week.
Communication Services and Financials outperformed modestly, while Energy lagged amid a decline in oil prices; volatility remains subdued as VXX holds steady.
Tomorrow’s catalyst includes June CPI data and pre-market earnings from Wells Fargo, Citigroup, and JPMorgan Chase, setting the tone for financials and broader market direction.
Key Takeaway:
Focus on tech and financial sectors showing steady momentum with moderate volume; avoid chasing overbought broad market conditions as tariff concerns linger. Use support levels near recent consolidation zones and prepare for increased volatility around CPI and earnings releases.
Watchlist
Continuation: QuantumScape Corp. (QS) (S1: 9.5, S2: 9.5, S3: 10, R1: 10, R2: 10.5, R3: 10.5)
Anticipation: Tesla Inc. (TSLA) (S1: 314, S2: 312, S3: 310, R1: 317, R2: 320, R3: 325)