8/27 Bullish. 300 Buying | 100 Selling.
% Stocks Over 50SMA is Bullish. Primary Indicator is Bullish. 20% Weekly is Bullish.
The market extended modest gains as rate cut expectations rose sharply ahead of the September FOMC meeting, supported by strong durable goods orders and upbeat earnings from semiconductor and defense sectors.
Industrials led with a 1.0% gain, boosted by aerospace and defense stocks hitting record highs, while financials and technology sectors also advanced steadily. Volatility remains subdued with VXX trending lower, confirming a risk-on environment.
Investors will focus on Wednesday’s weekly mortgage and crude oil inventory data alongside a $70 billion 5-year Treasury auction. NVIDIA’s earnings report after market close is a key event to watch.
Key Takeaway:
Swing traders should lean into the bullish momentum, targeting strength in industrials, semiconductors, and select tech names while maintaining stops near key support levels. Low volatility and rising volume support continuation plays, but stay alert for potential short-term profit-taking after recent rallies. Focus on stocks with relative volume spikes and clear support/resistance confluence to optimize entries.
Watchlist
Continuation: HCWB (S1: 5.5, S2: 5.0, S3: 4.5, R1: 5.8, R2: 6.0, R3: 6.0)
Anticipation: ONDS (S1: 4.5, S2: 4.5, S3: 4.5, R1: 5.0, R2: 5.0, R3: 5.0)