5/28 Cautiously Bullish. 675 Buying | 150 Selling.
T2108 is Bullish. Primary Indicator is Bullish. 20% Weekly is Neutral.
The market extended gains on tariff pause optimism, easing Treasury yields, and a sharp rise in consumer confidence, fueling a broad-based rally led by tech and consumer discretionary sectors.
Technology, communication services, and consumer discretionary sectors outperformed, while utilities and energy lagged; volatility (VIX) dropped sharply, confirming reduced downside hedging.
FOMC Minutes release and a $70 billion 5-year note auction are key catalysts to monitor tomorrow.
Key Takeaway:
Traders should focus on tech and consumer discretionary names showing momentum and volume support, while maintaining stops below key supports amid a neutral 20% weekly backdrop. Reduced volatility suggests lower risk, but caution is warranted ahead of FOMC Minutes. Look for continuation setups near support, especially in high-volume leaders.
Watchlist
Continuation: TSLA (S1: 360, S2: 358, S3: 355.5, R1: 364, R2: 366, R3: 368.5)
Anticipation: BWXT (S1: 121.5, S2: 121, S3: 120.5, R1: 122.5, R2: 123, R3: 123.5)
