5/9 Bullish. 700 Buying | 200 Selling.
T2108 is Bullish. Primary Indicator is Bullish. 20% Weekly is Neutral.
The market closed higher with broad gains fueled by optimism over a US-UK trade deal and potential tariff reductions on China, supporting equity momentum despite rising bond yields and mixed economic data.
Technology and Consumer Discretionary sectors showed strong volatility and volume, with notable resilience in semiconductors and EV-related stocks; Financials remained stable but weak, while Healthcare showed mixed performance. Volatility (VXX) ticked up, signaling increased caution amid sector rotation.
No major economic data is scheduled for Friday, keeping focus on trade developments and earnings updates.
Key Takeaway:
Swing traders should focus on tech and consumer discretionary setups showing volume-backed momentum, especially near key support levels. Watch for confirmation of support before entering longs and be cautious of rising volatility that could trigger quick reversals. Avoid chasing breakouts without volume support, and monitor tariff-related news for sudden market shifts.
Watchlist
Continuation: AMD (S1: 101.5, S2: 100, S3: 98.5, R1: 103, R2: 104.5, R3: 106)
Anticipation: MSFT (S1: 440, S2: 442, S3: 444, R1: 446, R2: 450, R3: 455)
