Nurse State of The Market 5-10-26 Sunday Market Playbook
A top-down analysis and plan for the week ahead.
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 →
Advanced Micro Devices, Inc. AMD 0.00%↑ was given out as a trade idea in the Sunday Market Playbook on 3/22/26. It’s still tagging an extreme-high RSI reading and trading fairly valued. It’s time to lock in profits in for the third time in AMD / AMDL. AMDL is up over 71% in just the last 5 days!! Congratulations to you in the AMD trade!!
A quick update from last week →
We reached 100 subscribers here at the NIM Trading Desk!!
I appreciate everyone’s support and engagement so far and I’m happy you’re here.
Let’s dig into last week’s market recap and the playbook for the week ahead →
The markets went straight up 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 Dow Jones (DIA) was the lagging index and has still been moving sideways forming a consolidation zone here.
The breakout momentum in Bitcoin (BTC) continues and price steadily climbs higher as it approaches its 200-day SMA.
Oil (USO) is still trading above its 20-day SMA.
Gold (GLD) closed above its 20-day SMA signaling a breakout is most likely underway here.
Bonds (TLT) are still trading below their 200-day SMA and setting up for a possible breakout.
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)
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.
The QQQ, SPY, DIA, BTC, GLD, and TLT are up.
USO is 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 Energy XLE 0.00%↑ was the worst.
The top three performing sectors were Technology (XLK), Consumer Discretionary (XLY), and Materials (XLB).
The worst three performing sectors were Energy (XLE), Utilities (XLU), and Financials (XLF).
Materials (XLB) is setting up for a potential trade here. I like UYM for a triple-leveraged materials trade.
Consumer Discretionary (XLY) closed with a doji bar on Friday above its 200-day SMA.
Technology (XLK) continues to climb higher and trade at an extreme-high RSI reading here!
All 11 sectors are trading above their 200-day SMA except Health Care (XLV) and Financials (XLF).
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 banged an extreme-high RSI reading signaling a potential top is in. We will see this week if price consolidates here or continues to climb higher.
iShares Semiconductors ETF SOXX 0.00%↑ is still running super hot and hitting an extreme-high RSI reading here along with other semiconductor stocks like INTC, AMD, MU, and SNDK.
Ark Innovation ETF ARKK 0.00%↑ blew through its 200-day SMA, which is typically bullish, and may be entering a new breakout.
Regional Banks KRE 0.00%↑ didn’t move much at all and is still in its zone of consolidation here above its 200-day SMA. We will see if price holds here or not while it tests its 20-day SMA.
The breakout in Software stocks IGV 0.00%↑ has steadily remained strong as it climbs higher towards its 200-day SMA.
SPDR S&P Oil & Gas Exploration & Production ETF XOP 0.00%↑ closed with an imperfect doji below its 20-day SMA.
ARKK broke through its 200-day SMA demonstrating bullish strength. SOXX has not cooled off at all yet and closed up over 15% last week! The IWM hit another new all-time high and tagged an extreme-high RSI reading! The market has been on fire here!!
IV: WHAT ASSETS & SECTORS I’M WATCHING 👩🏻⚕️🎯
Here’s what I’m focused on next week:
Oil (USO): Will price keep falling here or will price hold here?
XLE and XOP both put in doji bars on Friday signaling a bottom may be in here.
Dow Jones (DIA): Will price keep climbing here and reach an extreme-high RSI reading like the SPY and the QQQ?
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!
Let your winners run!!!
Gold (GLD): I’m watching for continuation and confirmation of the breakout in both GLD and GDX.
Materials (XLB): I’m looking at materials for a potential set up here if price breaks out.
