5/8 Cautiously Bullish. 250 Buying | 230 Selling.
T2108 is Bullish. Primary Indicator is Bearish – Caution. 20% Weekly is Neutral.
The market edged higher following the Fed’s decision to hold rates steady, with volatility subdued and tech and discretionary sectors leading gains amid optimism from China’s policy easing and upcoming trade talks.
Technology and consumer discretionary sectors showed strength, supported by chipmakers rallying after easing export restrictions; communication services lagged due to weakness in Alphabet. Volatility remains low as VXX held steady.
Tomorrow’s focus: Q1 productivity and labor cost data, wholesale inventories, and initial/continuing jobless claims will provide fresh economic clues.
Key Takeaway:
Swing traders should watch for continuation in tech and consumer discretionary sectors, especially semiconductor-related names benefiting from positive news flow. Caution is warranted given mixed breadth and bearish primary indicator; use tight stops near support and consider fading communication services weakness. Volume spikes in chipmakers suggest tactical entries on pullbacks.
Watchlist
Continuation: ASML (S1: 687, S2: 681, S3: 678, R1: 702, R2: 710, R3: 715)
Anticipation: NVDA (S1: 37.5, S2: 39.9, S3: 40, R1: 41, R2: 45.5, R3: 46)
