4/25 Cautiously Bullish. 500 Buying | 90 Selling.
T2108 is Bullish. Primary Indicator is Bearish – Caution. 20% Weekly is Bullish – Extreme Caution.
The market continues its relief rally with strong gains in mega caps and semiconductors, driven by positive earnings and easing Treasury yields.
Technology and industrial sectors show robust momentum, while biotech remains volatile but promising for swing plays. The VXX decline signals reduced volatility, supporting risk-on sentiment.
Watch for Friday’s University of Michigan Consumer Sentiment data for further market direction.
Key Takeaway:
Traders should focus on continuation setups in tech and industrials, leveraging strong volume and momentum. Exercise caution due to mixed primary indicator signals and watch for potential pullbacks in consulting-related names like IBM. Manage risk tightly around key support levels and avoid chasing overly extended biotech names without volume confirmation.
Watchlist
Continuation: GWW (S1: 1015, S2: 1010, S3: 1000, R1: 1020, R2: 1030, R3: 1040)
Anticipation: CGEM (S1: 8, S2: 7.9, S3: 7.9, R1: 8.15, R2: 8.25, R3: 8.35)
