Nurse State of The Market 4-19-26 Sunday Market Playbook
Welcome to the weekly official Nurse in The Market Sunday Market Playbook!!
Welcome back to your weekly market checkup!
The markets were fun last week!!
The Nasdaq (QQQ) and the S&P 500 (SPY) hit new record highs and they’re both trading at extreme-high RSI readings here. The SPY blew through its $700 psychological level.
The Dow Jones (DIA) is following right behind and trading at a near extreme-high RSI reading.
Bitcoin (BTC) is still in its uptrend below its 200-day SMA.
Gold (GLD) has been on the move above its 200-day SMA and closed with a miniature doji on Friday.
A potential breakout is underway in Bonds (TLT) which closed with a doji and above its 200-day SMA.
Oil (USO) fell more than 7% and closed below its 20-day SMA on Friday.
The Nasdaq (QQQ) was the top performing index of The Big 3, while the Dow Jones (DIA) was the laggard.
I. THE MARKET VITALS (Best to Worst)👩🏻⚕️📊
Here’s how the 7 major asset classes ranked this week:
The Nasdaq-100 QQQ 0.00%↑
The S&P 500 SPY 0.00%↑
The Dow Jones 30 DIA 0.00%↑
Bitcoin ($BTCUSD)
Gold GLD 0.00%↑
20 Year Bonds Treasury ETF TLT 0.00%↑
Oil USO 0.00%↑
♥️Market Pulse: 6/7
6/7 assets are up.
Most assets are up except Oil USO 0.00%↑ .
II. SECTOR ROTATION (11 SPDR S&P 500 Sectors)👩🏻⚕️🔄
Above is the 5-day performance across all 11 sectors.
Technology XLK 0.00%↑ was the top performing sector of the S&P 500 SPY 0.00%↑ , while Energy XLE 0.00%↑ was the wort.
The top three performing sectors were Technology XLK 0.00%↑ , Consumer Discretionary XLY 0.00%↑ , and Communication Services XLC 0.00%↑ .
All three sectors are trading back above their 200-day SMA and Technology (XLK) is banging an extreme-high RSI reading.
The worst three performing sectors were Energy (XLE), Utilities (XLU), and Materials (XLB).
All 11 sectors are trading above their 200-day SMA now.
Energy (XLE) was the only sector to close below its 20-day SMA signaling a decline could be underway.
III. IMPORTANT SECTORS & ETFs 👩🏻⚕️🔍
Beyond the main sectors, here’s what stood out this week:
The Russell 2000 Index IWM 0.00%↑ reached a new all-time high and is trading an extreme-high RSI reading, along with iShares Semiconductors ETF SOXX 0.00%↑ !
Ark Innovation ETF ARKK 0.00%↑ is on the move and blew through its 200-day SMA. It’s trading at a near extreme-high RSI reading and closed with a doji bar on Friday.
Regional Banks KRE 0.00%↑ may be breaking through its zone of consolidation here above its 200-day SMA.
S&P Oil & Gas XOP 0.00%↑ entered a decline and put in a doji bar on Friday below its 20-day SMA.
Software stocks broke out and are on the move below its 200-day SMA.
The RSI is only 58, which presents us with a trade idea on any price weakness or RSI pullback below 50, and potential trade setups in software laggards.
IV: WHAT ASSETS & SECTORS I’M WATCHING 👩🏻⚕️🎯
Here’s what I’m focused on next week:
Oil (USO): Will price stop dropping here or continue lower?
Watching for a bottom.
Dow Jones (DIA) : Will price keep climbing here and reach an extreme-high RSI reading?
The S&P 500 & The Nasdaq (SPY & QQQ): Both are trading at extreme-high RSI readings here. Use caution and don’t FOMO into any positions.
Lock in profits and leave some to run!
