9/3 Cautious. 250 Buying | 290 Selling.
% Stocks Over 50SMA is Bearish. Primary Indicator is Bullish – Caution. 20% Weekly is Bullish – Caution.
The market opened September with broad losses amid tariff uncertainty and seasonal headwinds, though late-session dip buying offered some relief. Defensive sectors like healthcare and consumer staples showed modest gains, while energy outperformed on rising crude oil prices. Volatility surged as the VIX jumped 14%, underscoring investor anxiety.
Technology and industrial sectors led the declines, pressured by mega-cap weakness and semiconductor softness, while smaller caps fared slightly better. The court ruling on tariffs keeps current levies in place until mid-October, maintaining trade-related uncertainty.
With no major economic data or earnings catalysts expected tomorrow, traders should monitor sector rotation and volatility spikes closely.
Key Takeaway:
Focus on defensive and energy sectors amid elevated volatility and bearish breadth. Avoid chasing weak mega-cap tech names near key moving averages. Look for swing entries on stocks showing volume-supported support, especially in healthcare and financials. Manage risk tightly given the cautious momentum environment.
Watchlist
Continuation: AXP (S1: 329, S2: 328, S3: 327, R1: 331, R2: 332, R3: 333)
Anticipation: CRM (S1: 250, S2: 248, S3: 246, R1: 252, R2: 255, R3: 258)