6/25 Cautiously Bullish. 485 Buying | 83 Selling.
% Stocks Over 50SMA is Bullish – Caution. Primary Indicator is Bullish. 20% Weekly is Bullish.
The market maintains a positive bias supported by easing geopolitical tensions between Israel and Iran, falling oil prices, and dovish Fed commentary, fueling broad-based buying interest.
Technology and financials led gains with semiconductors surging 3.8%, while energy and consumer staples lagged amid oil weakness. Volatility remains subdued as VXX shows minimal movement, reflecting calm market conditions.
Fed Chair Powell’s semiannual monetary policy report before the Senate Banking Committee tomorrow is the key upcoming catalyst, with focus on inflation outlook and future rate path.
Key Takeaway:
Swing traders should focus on tech and financial sectors showing strong momentum, especially semiconductor-related names, while avoiding energy and defensive sectors currently under pressure. Watch for confirmation above recent highs and monitor volume spikes for breakout entries. Manage risk tightly given mixed signals in breadth and caution warranted by consumer confidence data.
Watchlist
Continuation: ALNY (S1: 323, S2: 322, S3: 320.5, R1: 325.5, R2: 326.5, R3: 328)
Anticipation: AAOI (S1: 23, S2: 22.5, S3: 22.5, R1: 23.5, R2: 23.5, R3: 24)