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Stocks opened the week higher as renewed AI enthusiasm lifted semiconductors and growth names, with Tesla surging on an upgrade and Anthropic filing its IPO. Breadth improved but the regime held Cautious ahead of a torrent of mega-cap earnings and Wednesday’s FOMC decision.
Key points
The market stayed in a cautious regime: breadth improved to 50.34% of stocks above their 40-day SMA, but bears outnumbered bulls 215 to 130 on the 4% gauge.
The tape is selective and relies heavily on semiconductors and AI to lift everything else.
Tesla closed at $391.62, up 5.21%, on a Barclays upgrade. The playbook is to buy strength above $400 while trimming into supply.
For tomorrow, bulls need QQQ to reclaim its 50-day moving average at $725.43, and a bearish failure would pull SPY back under $758.68.
Stay patient through Wednesday's FOMC decision and the mega cap earnings, and let setups prove themselves.
See SPY in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See QQQ in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See TSLA in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See NVDA in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See BA in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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