Nurse State of The Market 4-26-26 Sunday Market Playbook
Welcome to the weekly official Nurse in The Market Sunday Market Playbook!!
Welcome back to your weekly market checkup!
I hope you had an amazing week!
In case you missed it, you can see last week’s top play of the week here →
A quick highlight from last week →
Keurig Dr Pepper Inc. KDP 0.00%↑ was given as a trade idea in last Sunday’s Market Playbook. Price completed its move to its 200-day SMA and tagged an extreme-high RSI reading. It’s time to lock in profits here. Congratulations to those of you in the KDP trade.
Let’s dig into last week’s market recap and the playbook for the week ahead →
The markets were flying last week!!
The Nasdaq (QQQ) and the S&P 500 (SPY) hit new record highs again and they’re both still trading at extreme-high RSI readings here.
The SPY blew through its $710 psychological level and the QQQ blew through its $650 psychological level.
The Dow Jones (DIA) was the lagging index and has been moving sideways forming a consolidation zone here.
The uptrend momentum in Bitcoin (BTC) continues and price steadily climbs higher below its 200-day SMA.
Oil (USO) is going for a new breakout here. Priced is back above its 20-day SMA and reclaimed its prior consolidation zone.
A breakout may be underway here in Bonds (TLT) as well. Price is trading right along its 200-day SMA, however, price closed just above its 20-day SMA signaling a breakout may be underway here.
Gold (GLD) is coming back into its accumulation zone. The breakout has lost its steam and price closed below its 20-day SMA on Friday.
Crude oil ($BRENT) is in a breakout along with Oil (USO). $BRENT is up 17% and USO popped over 10% last week!
The Nasdaq (QQQ) was the top performing index of the Big 3, while the Dow Jones (DIA) was the worst.
I. THE MARKET VITALS (Best to Worst)👩🏻⚕️📊
Here’s how the 7 major asset classes ranked this week:
The Nasdaq-100 QQQ 0.00%↑
The S&P 500 SPY 0.00%↑
The Dow Jones 30 DIA 0.00%↑
Bitcoin ($BTCUSD)
Oil USO 0.00%↑
20 Year Bonds Treasury ETF TLT 0.00%↑
Gold GLD 0.00%↑
♥️Market Pulse: 4/7
4/7 assets are up.
The QQQ, SPY, BTC, and USO are up.
DIA, GLD, and TLT are down.
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 Health Care XLV 0.00%↑ was the worst.
The top three performing sectors were Technology (XLK), Energy (XLE), and Consumer Staples (XLP).
All three sectors are trading above their 200-day SMA and Technology (XLK) is banging an extreme-high RSI reading.
Energy (XLE) is an accumulation zone above its 200-day SMA giving us potential trade setups this week.
The worst three performing sectors were Health Care (XLV), Communication Services (XLC), and Financials (XLF).
Communication Services (XLC) is trading in a breakout buy zone. I’m watching for any price weakness or RSI weakness for potential internet plays.
The uptrend in Financials (XLF) lost its momentum and is trading back below its 200-day SMA.
9 sectors are trading above their 200-day SMA now except Financials (XLF) and Health Care (XLV), which may be entering a decline here and closed below its 200-day SMA, which is typically bearish.
III. IMPORTANT SECTORS & ETFs 👩🏻⚕️🔍
Beyond the main sectors, here’s what stood out this week:
iShares Semiconductors ETF SOXX 0.00%↑ popped over 11% on the week and is banging an extreme-high RSI reading here along with other semiconductor stocks like NVDA, INTC, AMD, QCOM, and POET.
The Russell 2000 Index IWM 0.00%↑ reached a new all-time high again, but is no longer trading an extreme-high RSI reading and put in a doji on Friday signaling a top may be in here.
The IWM outperformed the DIA last week.
Ark Innovation ETF ARKK 0.00%↑ lost its momentum and is trading back below its 200-day SMA.
Regional Banks KRE 0.00%↑ didn’t break through its zone of consolidation above its 200-day SMA. Price closed below its 5-day EMA and may begin to rollover here.
S&P Oil & Gas XOP 0.00%↑ popped over 5% on the week. Price ended up holding here and building out a zone of accumulation giving us potential trade setups this week.
Software stocks IGV 0.00%↑ pulled back a bit below below its 200-day SMA. The RSI is only 54, which gives a trade idea on any price weakness and potential setups in software stock laggards.
IV: WHAT ASSETS & SECTORS I’M WATCHING 👩🏻⚕️🎯
Here’s what I’m focused on next week:
Oil (USO): Oil bounced back and finished the week up over 17% and reclaimed its prior consolidation zone.
I’m watching oil for trade setups this week.
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!
The Russell 2000 Index (IWM) already banged an extreme-high RSI reading, but put in a doji here so I’m watching to see if a reversal is underway or if price will continue going sideways or climb higher here.
V. INDIVIDUAL STOCK HIGHLIGHTS 👩🏻⚕️🔥
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