5/12 Bullish. 300 Buying | 200 Selling.
T2108 is Bullish. Primary Indicator is Bullish. 20% Weekly is Neutral.
The market remains subdued ahead of the U.S.-China trade meeting this weekend, with investors cautious but optimistic about potential tariff de-escalation. Earnings were mixed, highlighted by Lyft’s strong rally on buyback expansion and positive guidance.
Energy led sector gains (+1.1%), while healthcare lagged (-1.1%); volatility is modest but rising, reflecting uncertainty ahead of key trade talks.
Monday’s key catalyst is the April Treasury Budget report at 2:00 PM ET, setting the tone before Tuesday’s critical CPI and Core CPI data.
Key Takeaway:
Swing traders should focus on stocks showing strong volume-backed momentum in technology and consumer discretionary sectors, while maintaining tight risk controls given the cautious market tone. Watch for breakouts above key resistance levels in SPY and QQQ to confirm bullish continuation. Avoid overexposure in healthcare and other weak sectors until clearer signals emerge.
Watchlist
Continuation: TSLA (S1: 297, S2: 296.5, S3: 296, R1: 301, R2: 303.5, R3: 305)
Anticipation: ASML (S1: 705, S2: 704.5, S3: 706, R1: 707.5, R2: 710, R3: 715)
