Power Hour Brief: Riding the Bullish Wave into the Close
Regime Check — Where Are We Now?
Today’s market shows a bullish shift as sentiment moves to 4% Bullish from neutral Sentiment 40SMA.
- Market breadth is expanding significantly, with 95% of stocks above their 20 SMA today compared to 56% yesterday and 68.1% above their 40 SMA, a +4.1pp increase from yesterday’s 64.01%.
- Energy (RSPG) is a leading sector, with a current value of 2.31 and a percentile rank of 100, while Health Care (RSPH) lags behind with a current value of -1.57.
- The overall character of today is a strong bullish trend, showing a significant reversal from prior sessions.
Strategy Signals — Continuation, Reversal & SIP
- FTRE shows a strong continuation signal (2LYNCH), priced at $14.91 with a 21.7% change and RVOL of 2.9.
- APTV presents a reversal setup opportunity at $55.97, down -6.0% with RVOL of 2.8.
- EOLS indicated better-than-expected Q1 sales is holding near its price of $5.58.
- PLASTICS may be relevant today as Energy (RSPG) shows strength and Consumer Staples (RSPS) and Materials (RSPM) demonstrate relative strength.
Closing Playbook — What To Do Now
- Consider closing any PYPL positions before the bell, given that it is showing a reversal signal at $45.93, down -8.8%.
- If FTRE continues its momentum, consider an entry near the close above $14.91.
- Index update: SPY data is unavailable.
Tomorrow’s Early Look
- Watch for any overnight news impacting Energy prices, given sector strength.
- Look for a potential BTFD setup in APTV if it shows signs of stabilization around $55.00 area.
- Today’s bullish action suggests a continuation strategy may be appropriate for tomorrow, but watch for profit-taking.