Nurse State of The Market 5-3-26 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 awesome week!
In case you missed it, you can see last week’s top play of the week here →
A quick highlight from last week →
Energy Transfer ET 0.00%↑ was given out as a trade idea in last Sunday’s Market Playbook. Price blew through its previous high target and banged an extreme-high RSI reading. It’s time to lock in profits here. Congratulations to those of you in the ET trade.
Another 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 now banging an extreme-high RSI reading and trading fairly valued. It’s time to lock in profits in AMD / AMDL. Congratulations to you in the AMD trade!!
A quick update from last week →
I edited the NIM logo. I added a crown.
Jean Basquiat used it to mark what was his.
Same idea here: this is about owning your process, not following the crowd.
Let’s dig into last week’s market recap and the playbook for the week ahead →
The markets were on fire 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) confirmed its breakout and almost tagged an extreme-high RSI reading, but not quite.
Gold (GLD) closed below its 20-day SMA and entered a possible decline, but is still holding its original zone of accumulation above its 200-day SMA.
Bonds (TLT) also entered a possible decline below its 200-day SMA. Price closed below its 20-day SMA, but is still holding its original accumulation zone.
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%↑
Gold GLD 0.00%↑
20 Year Bonds Treasury ETF TLT 0.00%↑
♥️Market Pulse: 5/7
5/7 assets are up.
The QQQ, SPY, DIA, BTC, and USO are up.
GLD and TLT are down.
II. SECTOR ROTATION (11 SPDR S&P 500 Sectors)👩🏻⚕️🔄
Above is the 5-day performance across all 11 sectors.
Energy XLE 0.00%↑ was the top performing sector of the S&P 500 SPY 0.00%↑ , while Materials XLB 0.00%↑ was the worst.
The top three performing sectors were Energy (XLE), Consumer Staples (XLP), and Real Estate (XLRE).
The worst three performing sectors were Materials (XLB), Consumer Discretionary (XLY), and Industrials (XLI).
Materials (XLB) closed below its 20-day SMA and might be rolling over here into a decline.
Consumer Discretionary (XLY) closed with a doji bar on Friday, but did not hit an extreme-high RSI reading.
Communication Services (XLC) tested its 20-day SMA, but closed back above it, which is typically bullish. Price also got back above its 5-day EMA signaling the trade could be back in play and give us possible setups in communication stocks this week.
All 11 sectors are trading above their 200-day SMA now 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 again and is trading at a near extreme-high RSI reading and possibly breaking out of its zone of consolidation here.
iShares Semiconductors ETF SOXX 0.00%↑ is still running hot and banging an extreme-high RSI reading here along with other semiconductor stocks like INTC, AMD, and SNDK.
Ark Innovation ETF ARKK 0.00%↑ tested its 20-day SMA, but closed back above it, which is usually a bullish sign. Price also closed back above its 5-day EMA indicating that the trade might be back in play this week.
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.
Software stocks IGV 0.00%↑ also tested its 20-day SMA, but closed back above it and is trading above its 5-day EMA signaling the trade is back on.
ARKK and IGV are both back above key support. The IGV outperformed the QQQ, and the XLK last week, which demonstrates strength and gives me possible trade ideas this week.
IV: WHAT ASSETS & SECTORS I’M WATCHING 👩🏻⚕️🎯
Here’s what I’m focused on next week:
Oil (USO): Will price keep climbing higher and hit an extreme-high RSI reading again?
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!
Gold (GLD): Will price hold here and give us possible setups or break this zone of accumulation this week?
