Its Hard Not To Be A Bull Today - Friday May 10th, 2024Pre-Market Plan - Friday May 10th, 2024
Market Direction
Its hard not to be bullish anymore.
Breadth
INDEX:S5FI 🟢1YR 🔴5YR
INDEX:R2FI 🟢1YR 🟢5YR
TVC:VIX (Inverted) 🟢1YR 🟢5YR
TA
AMEX:SPY 🟢Above the 50D 🟢3 Green Closes
TVC:VIX 🟡Steep Decline and has gotten very low. Careful
NASDAQ:TLT 🟢 Looks Bullish (Not my expertise)
Oil and Copper
TVC:USOIL 🟢Cup and Handle
AMEX:COPX 🟢+1.44% Pre-market biggest sector ETF mover. Stanely Drunkenmiller recently commented on the demand for Copper in Evs and
Sectors Up Pre-market
AMEX:COPX - Copper Miners
AMEX:PAVE - Infrastructure
AMEX:XME - Metals and Mining
AMEX:XBI - Biotech
Bulls
NYSE:FIX NASDAQ:APP NYSE:EME NASDAQ:GCT NYSE:AXP NASDAQ:FTAI NYSE:GE NASDAQ:POWL NYSE:ML
Bulls Upcoming Earnings
NASDAQ:LWAY NASDAQ:VTSI NASDAQ:PANW NASDAQ:NVDA NYSE:HOV NYSE:ANF
Bears
NASDAQ:TSLZ is the only one I am interested in give the market conditions today.
R2FI trade ideas
More pain to come?Top charts are the S&P, Nasdaq and Russell stocks above the 50DMA, below is the indicies themselves. Notice the divergences. The amount of stocks above the 50 are declining while prices moved higher. May lead to lower prices. Just something to keep an eye on until it gets itself worked out.