Situation Awareness: Cautious. The market remains cautiously optimistic on a potential peace deal between the U.S. and Iran, keeping the S&P 500 just 0.5% below its all-time high of 7,002.28. Trade mode: selective and watchful. Optimism surrounding ceasefire negotiations battles with the lingering impacts of the conflict with Iran and mixed earnings reports. Economic data is light today. Regime context — 63.79% of stocks trade above their 40-day SMA, and the 4% Bull/Bear gauge shows 0 bulls vs. 0 bears. The 5-day trend turned up 3 of 5 days, signaling early recovery.
SIP: STNE NKE AVGO NET
- What’s working: Reversal strategies are showing the most signals, with 107, but the absence of bull/bear signals suggests caution.
- Leading sectors: Technology (3.03), Financials (1.25), Industrials (1.52); leading themes: data unavailable.
- Key event: Potential resumption of ceasefire negotiations between the U.S. and Iran.
- Market read: Yesterday’s tape saw gains, fueled by a retreat in oil prices and leadership from mega-cap stocks. Today, the market seeks confirmation and consistency in the peace narrative.
- DEP watchlist: DELL, IREN, LEG
- SIPS: AMZN, AXSM, DKS