Overall market trend: Bullish phase – day 34
Yesterdays market: Money entering the market – high buying pressure
TC2000 McClellan: 22
Stocks above 40PMA: 49%
VIX: 16
52 week highs (US common stocks): 301
Seasonality: May is typically a weaker month
Indices:
$QQQ: Uptrend
$SPY: Uptrend
$DIA: Uptrend
$IWM: Uptrend
$BTC: Downtrend
$SQQQ: Downtrend
$UVIX: Downtrend
$TLT Uptrend
1%+ sectors yesterday:
- $IGV +2.84%
- $HACK +2.28%
- $TAN +2.01%
- $XLV +1.40%
- $IBB +1.39%
- $XLK +1.31%
1%- sectors yesterday:
- $XLU -1.13%
Main sectors monthly trailing:
- Leading – $XLK $XLV
- Lagging – $XLU $XLF
Sub sectors monthly trailing:
- Leading – $SMH $TAN
- Lagging – $KRE $RTH
Bitcoin: Under the 200sma at 74k ish
Themes: Electrical Equipment, Semiconductors, Energy Infrastructure, Data-Center, Cybersecurity, Satellites, Industrial Technology
Are breakouts working: yES
Are breakouts likely to work for the next 3 – 5 days: The 20% study is very elevated at 178, 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: Will just follow the market today with no planned trading 20% study still very elevated and its month end.
Stock goat 