6/5 Bullish. 300 Buying | 120 Selling.
% Stocks Over 50SMA is Bullish – Caution. Primary Indicator is Bullish. 20% Weekly is Bullish.
Market churned amid weak economic data and trade tensions, but mega-cap tech strength and semiconductors supported gains.
Communication Services led sectors with +1.4%, while Energy and Utilities lagged; volatility ticked higher with VXX spikes reflecting cautious sentiment.
Upcoming catalysts include Thursday’s Initial Jobless Claims, Trade Balance, and Fed Governor speeches.
Key Takeaway:
Focus on tech and communication services for swing entries as momentum persists despite economic headwinds. Watch key supports on volatile names like CRWD and CVNA for potential breakouts. Avoid energy and utilities sectors showing weakness and elevated volatility. Manage risk tightly amid mixed volume signals and geopolitical uncertainty.
Watchlist
Continuation: CRWD (S1: 459, S2: 455, S3: 450, R1: 465, R2: 470, R3: 475)
Anticipation: CVNA (S1: 343, S2: 340, S3: 338, R1: 346, R2: 350, R3: 354)
