6/4 Bullish. 500 Buying | 100 Selling.
% Stocks Over 50SMA is Bullish – Caution. Primary Indicator is Bullish. 20% Weekly is Neutral.
The market advanced with a pro-cyclical tilt, led by strong gains in small-caps, mega-caps, and semiconductors, supported by positive labor data despite global growth downgrades.
Technology and energy sectors outperformed, with NVDA and semiconductor stocks driving tech strength; Russell 2000 showed notable leadership. Volatility remained subdued, reflecting calm investor sentiment.
Upcoming catalysts include ADP Employment Change, ISM Services, and the Fed’s Beige Book, all due Wednesday. Earnings from Dollar Tree and Five Below will also be key.
Key Takeaway:
Momentum remains firmly bullish with broad-based buying interest, especially in tech and small-caps. Swing traders should focus on stocks breaking out on volume while maintaining stops near key support levels. Avoid chasing overextended names without volume confirmation and monitor upcoming economic data for potential volatility shifts.
Watchlist
Continuation: TEAM (S1: 208, S2: 207.5, S3: 207.5, R1: 211, R2: 211.5, R3: 213)
Anticipation: CVNA (S1: 338, S2: 337.5, S3: 337.5, R1: 340, R2: 341, R3: 342.5)
