Overall market trend: Bullish phase – day 32
Yesterdays market: Money entering the market – very high buying pressure
TC2000 McClellan: 27
Stocks above 40PMA: 50%
VIX: 17
52 week highs (US common stocks): 323
Seasonality: May is typically a weaker month
Indices:
$QQQ: Uptrend
$SPY: Uptrend
$DIA: Uptrend
$IWM: Uptrend
$BTC: Downtrend
$SQQQ: Downtrend
$UVIX: Downtrend
$TLT No trend
1%+ sectors yesterday:
- $TAN +4.56%
- $SMH +4.48%
- $JETS +4.17%
- $IYT +4.90%
- $XTL +2.91%
- $XLK +2.63%
- $XLI +1.47%
- $XLB +1.39%
- $KRE +1.34%
1%- sectors yesterday:
- $XLE -2.76%
- $XLP -1.38%
- $RTH -1.21%
Main sectors monthly trailing:
- Leading – $XLK $XLF
- Lagging – $XLU $XLB
Sub sectors monthly trailing:
- Leading – $SMH $HACK
- Lagging – $TLT $RTH
Bitcoin: Under the 200sma at 76k ish
Themes: Electrical Equipment, Semiconductors, Energy Infrastructure, Data-Center, Cybersecurity, Satellites, Industrial Technology
Are breakouts working: Selectively
Are breakouts likely to work for the next 3 – 5 days: The 20% study is at 128, anything over 100 is frothy so expecting a pull back in the coming days
Are breakdowns likely to work for the next 3 – 5 days: Yes in weak sectors & extended stocks
Should I be trading: Yes following trade plan
Stock goat 