Next Day Prep: Traders Preparing for QQQ Resistance at 523
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Welcome to Next Day Prep – What We Are Watching Tomorrow. Today’s market felt like it was holding its breath with a lack of buyer conviction. The major indices struggled to find follow-through after recent gains.
Overnight Headlines
- Box (BOX) soared over seventeen percent on a beat-and-raise Q1 report, driven by AI-driven solutions.
- Abercrombie & Fitch (ANF) surged 14.7% on better-than-expected earnings.
Economic Announcements
The U.S. Mortgage Applications Index declined. Treasury yields rose, with the 10-year note settling at 4.48%.
Earnings Highlights
- Fair Isaac (FICO) jumped 7.7% on an upgrade to Outperform.
- Okta (OKTA) beat earnings and guided above consensus for Q2 and FY26.
Top Movers
- Box (BOX): Surged with AI-driven solutions showing strong demand.
- Fulcrum Therapeutics (FULC): Showing strong accumulation and higher lows.
Quick Trade Ideas
- ALGS (Aligos Therapeutics): Upward momentum after consolidation.
- URBN (Urban Outfitters): Potential rebound with a steady uptrend.
Key Takeaway
Focus on tech and consumer discretionary sectors for potential breakout opportunities. Manage risk tightly, especially with economic data releases. Avoid chasing weakness in defensive sectors without confirmed strength.