Good Things Happen Above the 200 DMA 📈 The Daily Chart Report

Nothing good happens below the 200dma.

Except market bottoms. $SPX pic.twitter.com/5U4YUyVcED

— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi) May 12, 2025

US equity markets started the day sharply higher. While there was some initial giveback (particularly in the RUT), they bottomed at noon and moved higher from there, all but the RUT finishing at the highs of the day with a shot of systematic buying (unlike last week). pic.twitter.com/UXkQa5OdXU

— Neil Sethi (@neilksethi) May 12, 2025

$SPX - This huge gap isn't what the bulls want to see after a China trade deal. A Monday gap is a gap on the weekly chart and such gaps are usually filled on the same week. Statistically, there's a high probability that SPX will drop to 5720 or lower by the end of the week. pic.twitter.com/9CwiZJmVif

— CyclesFan (@CyclesFan) May 12, 2025

To fill this morning’s unusually-large gaps, $SPY would have to decline to 567.50 and $QQQ to 491.54. How quickly the gaps get filled -- if at all – gives us an idea of how strong the underlying trend is. pic.twitter.com/aJjksJTZ4t

— Walter Deemer (@WalterDeemer) May 12, 2025

$IEI : $HYG narrowed as spread fell below it breakout, supporting the bullish move seen in $SPY breaking back above its 200ma and March highs. pic.twitter.com/Y0GpUxCzF5

— Stacey A. Lee (@BaileyBaxter25) May 12, 2025

QQQ Nice rally this afternoon. Nice if it lasts. Volume by price is thin between current price and AThs. Things could move fast. The rally has been a lock-out affair till last week's consolidation. V-prepared! pic.twitter.com/Os9ZsUay3W

— Alan Cohen (@al_xdpg) May 12, 2025

Tariff-proof names like Netflix are seeing some profit taking on today's news

What a run off those 2025 lows during all the macro mayhem, tho

Where do you think it finds a bottom? February High? Round $1000?$NFLX pic.twitter.com/u2BGwYjVwE

— Wall Street Wingman (@WallStWingman) May 12, 2025

Short Interest for $XLP increased 17% from the last reporting period, now at highest level since Feb 2022. Utilities $XLU dropped 15%: pic.twitter.com/r4EUVPxFbD

— Optuma (@Optuma) May 12, 2025

As stocks continue to claw back to potential new all-time highs, remember that only twice the past 75 years did stocks peak in February. pic.twitter.com/oAjfRj9DPn

— Ryan Detrick, CMT (@RyanDetrick) May 12, 2025

Todays $130+ washout from last weeks close in futures, on a much better than expected China/US outcome, is the 2nd largest YTD and 3rd largest on record.

Technically: Gold held where it should just above $3200, for the 3rd time. This marked past bear traps with $300+ and $230+… pic.twitter.com/t6vzKkUllG

— Nicky Shiels (@nixsa84) May 12, 2025

The US Dollar was beaten down and due for a bounce, and so it has. The stuff I follow is still unfavorable for the buck. My approach:
Dollar < 100 (press the short side)
Dollar >100 (stand aside)
Not advice, just the ramblings of a market-addled mind.@sentimentrader pic.twitter.com/psSIJ8lEvU

— Jay Kaeppel (@jaykaeppel) May 12, 2025

pic.twitter.com/gibGftLxrR

— Barchart (@Barchart) May 12, 2025