Situation Awareness: Bullish, but bifurcated. The tape is being pulled two ways this morning — semiconductor stocks are handing back much of yesterday’s rebound after Samsung’s underwhelming preliminary Q2 print gutted South Korea’s Kospi (-4.9%), while the Dow points higher on rotational strength. Nasdaq futures are down 319 points at 29,622 and S&P 500 futures are off 16 at 7,576, but DJIA futures are up 145 at 53,517 — a classic rotation signature, not a broad risk-off. Index cash levels (SPY/QQQ/IWM) are unavailable in today’s data, so lean on futures and yesterday’s closes for structure. Trade mode: selective and rotation-aware — buy strength outside chips, don’t chase the semis into the open. Today’s context is thin on catalysts: May Trade Balance at 8:30 ET is the only U.S. data, and a $58 bln 3-yr note auction hits at 1:00 ET. Regime context — 66.87% of stocks trade above their 40-day SMA, and the 4% Bull/Bear gauge shows 202 bulls vs. 127 bears. The 5-day trend turned decisively higher into yesterday’s close, with the S&P reclaiming 7,500 and the Dow tagging fresh records above 53,000 — momentum is intact, but chip fatigue is the fly in the ointment.
SIP: CRNX LUCY KIDZ
- What’s working: Continuation/2LYNCH is the richest scan with 11 signals — internet mega-caps GOOG/GOOGL, software names S and DDOG, and industrial IBM lead. Reversal scan is thin at 2 (INTU, SHOP). No Delayed 9M signals today.
- Leading sectors: live sector and theme performance is unavailable (market closed, ATR feed empty). From yesterday’s tape, communication services (+1.6%), health care (+1.2%), and information technology (+1.3%) led; utilities (-1.1%), staples (-0.9%), and real estate (-0.9%) lagged on the rotation into tech.
- Key event: Samsung’s soft preliminary Q2 guidance is the overnight market-mover, dragging global semis and Nasdaq futures.
- Market read: yesterday was a broadening rebound — mega-caps and semis carried the majors through round-number milestones with positive breadth beneath. Today tests whether the non-chip leadership can hold the fort while semis breathe.
- DEP watchlist: no Delayed 9M signals fired — nothing to stage from that book today.
- SIPS: GOOGL, IBM, S — cleanest continuation swing candidates with constructive momentum.