6/4 Cautiously Bullish. 510 Buying | 110 Selling.
T2108 is Bullish – Caution. Primary Indicator is Bullish. 20% Weekly is Neutral.
The market advanced with a pro-cyclical tilt, led by small-caps, mega-caps, and semiconductor stocks amid growth optimism and momentum buying despite mixed macro signals.
Information Technology (+1.5%) and Energy (+1.1%) sectors outperformed, supported by strong semiconductor gains and broad-based buying; volatility remains subdued with VXX steady.
Upcoming Catalyst: ADP Employment Change, ISM Services, and Fed’s Beige Book scheduled Wednesday; watch retail earnings from Dollar Tree and Five Below.
Key Takeaway:
Traders should focus on technology and small-cap sectors showing momentum, using support and resistance levels to time entries. Volume remains moderate, so confirm breakouts with relative volume spikes. Caution is warranted given mixed economic data and muted volatility; keep stops tight near key supports and avoid chasing extended moves without volume confirmation.
Watchlist
Continuation: TEAM (S1: 208, S2: 207.5, S3: 207.5, R1: 210.5, R2: 211.5, R3: 213)
Anticipation: CVNA (S1: 338, S2: 337.5, S3: 337.5, R1: 340, R2: 341, R3: 342.5)