4/28 Cautiously Bullish. 200 Buying | 150 Selling.
T2108 is Bullish. Primary Indicator is Bearish – Caution. 20% Weekly is Neutral.
The market closed the week on a strong note with major indices posting solid gains led by mega cap tech and consumer discretionary stocks. Despite early selling pressure, bullish momentum prevailed supported by easing Treasury yields and positive consumer sentiment data.
Technology and consumer discretionary sectors led the rally, with communication services and tech sectors showing notable strength. Volatility remains subdued as VXX trades in a tight range, signaling low investor fear.
No major US economic data is scheduled for Monday, allowing traders to digest earnings and sector rotation dynamics.
Key Takeaway:
Swing traders should focus on tech and consumer discretionary sectors showing strong momentum, while remaining cautious given the primary indicator’s bearish caution signal. Look for continuation setups in mega cap leaders but manage risk tightly near resistance levels as the market consolidates. Avoid chasing weaker telecom names facing profit-taking after earnings.
Watchlist
Continuation: SYK (S1: 364.5, S2: 363.5, S3: 363, R1: 366, R2: 367.5, R3: 368)
Anticipation: SOUN (S1: 9.5, S2: 9.5, S3: 9.5, R1: 9.7, R2: 9.75, R3: 9.8)
