5/19 Cautiously Bullish. 350 Buying | 115 Selling.
T2108 is Bullish. Primary Indicator is Bullish. 20% Weekly is Bearish – Overbought.
The market closed the week on a strong note with major indices hitting session highs despite weak consumer sentiment and rising inflation expectations, reflecting ongoing momentum and resilience.
Health care and utilities led sector gains, each up over 1%, while volatility remained subdued as VXX showed stability.
Next week’s key catalysts include Thursday’s weekly jobless claims and April existing home sales, followed by new home sales on Friday.
Key Takeaway:
Swing traders should focus on momentum plays in resilient sectors like health care and technology while managing risk due to overbought conditions indicated by the 20% weekly study. Watch for potential pullbacks near resistance levels and use volume confirmation to enter. Avoid chasing extended moves without clear support.
Watchlist
Continuation: NET (S1: 156, S2: 155.5, S3: 155, R1: 157.5, R2: 158, R3: 158.5)
Anticipation: NVDA (S1: 135, S2: 134.5, S3: 134, R1: 136, R2: 137, R3: 137.5)
