Dan Colt

$AMD: Similar indecision led to a pullback to the 20DMA last week. This time there is a gap below the shooting star candle, adding bearish pressure to the price. $SMH

This is interesting. The distance between the $SPX and the 200sma today is now the greatest it has been since January 2022. Look what happened afterwards. And for fun, the time before that? April 2000. Look what happened afterwards. Can mean nothing. Can mean everything... Use it as you please. Or ignore.

Today's Chart of the Day was shared by @randgroup Innovation-led bull markets can last for much longer than expected. Get the full details in today's report plus more great charts. ⬇️ thechartreport.com/05-21-26

$DIA: Indecisive candle above the Upper Bollinger band.⚠️ Usually risky for longs. The 20DMA is the usual minimal destination. The gap below adds pressure to the setup.

$SPX: Gravestone doji at the top; the next candle is very likely to be red, presenting a good R/R for shorts. The RSI divergence adds more bearish references.

S&P up 8 weeks in a row, longest streak since 2023

When the S&P 500 gains 10%+ during a seven-week winning streak, forward 3-month returns were positive 10 out of 11 times, with a median gain of 3%. @Bluekurtic

$WDAY: Posted during the weekend as a Bullish tactical with major chances for a bullish reversal targeting $131 (+5%). The first target is being touched in the premarket session.

Founding Members Exchange Hub: smartreversals.com/p/founding-mem…

Momentum is having its worst two-day selloff since 2022, posting back-to-back 5%+ unwinds, also first time since 2022: GS

The SmartScreener for Founding Members highlights high-conviction reversal setups across the SPX, $NDX, and ETFs. Posted during the weekend, $MCD was primed for a turn targeting 279 and 283, included invalidation level to manage risk.

BREAKING: S&P 500 futures erase all losses and turn green on the day.

$SPX: Dip buyers jumped in close to the 7,360 daily demand zone. The candle suggests a bullish reversal, the MACD crossover indicates the trend is switching, making further decline likely. The gap at 7,273 is a must-watch zone. $SPY.

Which is telling the truth?

$NOW: It's now or never for ServiceNow. Reversal signs are accumulating, and the price action remains structurally bullish above 92.4. $IGV $CRM $ADBE $QQQ

@BYOinvestor1 @market_sleuth is a nice guy

Guys don’t ever be a perma bear. One of the most experienced traders here John from the dotcom era has been calling tops since mid 2024. If you had listened to that you would’ve lost money and missed out on all of the rally since then. Not to belittle anyone but just a lesson that stock market doesn’t care about what you think and whats high can always go higher and whats low can always go lower. Always do your own due diligence. Here is the lesson. NFA. $SPY $QQQ @market_sleuth

@SmartReversals @DeclanHaye52182 Good to see you!

$SPX: A weekly shooting star has formed, which is usually bearish signal. Fasten your seatbelts: the $VIX is rising.

The world is using more US Dollars than ever: Offshore US Dollar deposits held in banks outside the US are up to a record ~$14.5 trillion. This is +220% more than the ~$4.5 trillion held at the beginning of the century. By comparison, only ~$3.5 trillion worth of euros are held in offshore banks, outside the Eurozone. And, the Fed and domestic commercial banks hold over $19.0 trillion. This means offshore US Dollar deposits are now equivalent to~43% of US domestic bank deposits, with no other currency coming close to this percentage. Global demand for USD is incredibly high.

$SPX: Dip buyers came to the rescue, but staying cautious is key after today’s intraday volatility. A gap fill at 7,273 is likely to happen, the sooner the better. It's worth noting that defensives (Healthcare and Staples) kept the index afloat, while Tech is clearly exhausted.