4/24 Cautiously Bullish. 600 Buying | 100 Selling.
T2108 is Bullish. Primary Indicator is Bearish – Caution. 20% Weekly is Neutral.
The market extended upside momentum with strong gains led by tech and consumer discretionary, supported by positive earnings and easing trade tensions.
Technology and consumer discretionary sectors outperformed with notable strength in Tesla and Boeing, while volatility (VXX) eased, signaling reduced risk aversion.
Key economic data due Thursday includes Durable Orders, Existing Home Sales, and Initial Jobless Claims, which could influence near-term market direction.
Key Takeaway:
Focus on continuation setups in strong sectors like technology and consumer discretionary but remain cautious due to mixed primary indicators and moderate volatility. Use support/resistance levels to manage risk and watch for volume confirmation on breakouts. Avoid chasing overextended names without volume backing.
Watchlist
Continuation: PLX (S1: 2.8, S2: 2.8, S3: 2.5, R1: 3.0, R2: 3.0, R3: 3.0)
Continuation: KGC (S1: 14.5, S2: 14.5, S3: 14.0, R1: 14.5, R2: 14.5, R3: 14.5)
Anticipation: BCTX (S1: 5.5, S2: 5.5, S3: 5.5, R1: 5.6, R2: 5.7, R3: 5.8)
Anticipation: NFLX (S1: 1045, S2: 1045, S3: 1040, R1: 1055, R2: 1060, R3: 1070)
