Overall market trend: Bullish phase – day 33
Yesterdays market: Money entering the market – normal buying pressure
TC2000 McClellan: 20
Stocks above 40PMA: 49%
VIX: 16
52 week highs (US common stocks): 297
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:
- $JETS +2.90%
- $TAN +2.25%
- $IYT +1.94%
- $XLY +1.76%
- $XTL +1.27%
- $XLP +1.14%
1%- sectors yesterday:
- $HACK -3.80%
- $XLE -1.49%
- $SMH -1.10%
- $IGV -1.07%
Main sectors monthly trailing:
- Leading – $XLK $XLV
- Lagging – $XLU $XLB
Sub sectors monthly trailing:
- Leading – $SMH $TAN
- Lagging – $TLT $RTH
Bitcoin: Under the 200sma at 73k 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 VERY elevated at 202, 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, no new longs with 20% study so elevated
Stock goat 