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S&P 500 Eyes 7600 After Bullish BreakoutWhile an end to the war may have been priced more times than I care to remember, with earnings growth topping forecasts across most sectors on the back of decent nominal economic growth and the AI infrastructure boom, a weaker US dollar starting to deliver tailwinds for offshore earners, and with technicals favouring upside, it’s hard to dislike the near-term outlook for US stocks.
With our S&P 500 contract breaking to fresh highs, a long setup may therefore be in order.
If we were to see a pullback and bounce from or near the former record high of 7517, longs could be established with a tight stop below, targeting higher levels. With the US, UK and Hong Kong markets offline for public holidays, it’s creating some caution about chasing at these levels, hence why I’d like to see a retest and bounce before entry.
As for targets, the index often gravitates towards big figures once it’s broken to fresh highs, making 7600 the first cab off the rank.
With RSI (14) pushing higher again and MACD on the cusp of delivering a bullish crossover, the momentum picture favours longs over shorts, as does the bullish price action and raft of medium and longer-term moving averages with a positive slope.
Good luck!
DS 
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Applied Materials: Uptrend Intact?Applied Materials has climbed most of the year, and some traders may think its uptrend remains intact.
The first pattern on today’s chart is the bullish gap on April 8. The provider of chip equipment tested the low of that session three weeks later and held. This week it appears to have made a higher weekly low.
Prices have also remained mostly above the rising 50-day simple moving average.
Both signals may be consistent with an intermediate-term uptrend.
Next, Wilder’s Relative Strength Index (RSI) has stayed above its midpoint at 50. That can also reflect positive momentum.
Finally, the 8-day exponential moving average (EMA) has stayed above the 21-day EMA.
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Aussie Jumps as Trade Relief Boosts Risk AppetiteAUD/USD rose by 0.6% on Wednesday, May 20 as the Australian Dollar benefited from a broad improvement in global risk sentiment tied to stabilizing trade relations between the United States, China, and the European Union. Markets responded positively to signs that tariff tensions may be easing and that supply-chain pressures tied to industrials, semiconductors, and commodities could stabilize in the months ahead. For Australia, whose economy remains deeply linked to Chinese demand and global trade flows, the shift supported commodity-sensitive currencies and helped drive renewed buying interest in the Aussie.
On the U.S. side, the greenback softened modestly as Treasury yields stabilized and investors rotated back toward higher-beta currencies following several weeks of defensive positioning. Australia’s domestic backdrop also remained relatively supportive, with markets continuing to price a cautious but steady Reserve Bank of Australia policy stance as inflation risks tied to energy and housing remain elevated. The result was a strong session for AUD/USD, driven less by domestic economic surprises and more by improving global macro sentiment and easing trade-related stress.
In the above chart, AUD/USD has found support at its 50-day exponential moving average (EMA), holding the broad uptrend that’s defined calendar year 2026 thus far. While base metal prices have subsided in recent days, as well as precious metals, the continued yield advantage held by the Australian Dollar thanks to the RBA’s hawkish bias are helping to reinforce the push to the upside. If the next leg higher is beginning, then the lows seen over the past few sessions around 0.7079 should hold. Failure to sustain prices above 0.7150, on the other hand, could open the pair to renewed weakness within the broader range of 0.6900 - 0.7100. 76K HOLDS — IS BTC READY FOR 82.5K?Hello friends! 🍀
Yesterday we discussed the following scenario:
“If we don’t see a move toward the upper boundary of the range at 78,000 in the near term, it would signal weak price action and could lead to a continuation of the correction toward the next marked level at 73,700❌”
Fortunately, we are now seeing movement toward 78,000, which means the 76,000 level has so far acted as solid support and managed to push the price higher.
We continue watching the next move closely, but keep in mind:
🚀 A breakout above 78,000 would most likely confirm continuation toward 82,500 and higher to the previously mentioned targets.
⚰️ A breakdown below 76,000, on the other hand, could open the way for a continuation of the decline toward 73,700.
Peace everyone 🌍
XAUUSD 15M — Aligned Bearish Deepens, $4,484 Below EMA200May 20 Cross-Asset SMC Read
Gold's bearish alignment continues to deepen. Since flipping to aligned SHORT on May 4, Gold has not looked back — dropping from $4,562 through $4,666 (May 11) and now to $4,484. That is nearly $80 of additional downside in nine days.
Price remains firmly below the EMA200 ($4,520), and the 15M structure shows a clean series of bearish BoS labels. The most recent session saw a drop to the $4,440 area before a modest bounce into London. No bullish structural shift in sight.
Signal: Below EMA200 + Bearish Structure = Aligned SHORT
Key Levels:
• Resistance: $4,520 (EMA200), $4,540–$4,550 (prior consolidation)
• Support: $4,460 (session low zone), $4,440 (swing low)
Context: Gold has maintained aligned SHORT status for three consecutive readings now — the longest sustained alignment this asset has shown in our 7+ week tracking window. The trend is clear until structure flips. 
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Globant (Revised) | GLOB | Long at $33.00This is a revised analysis of Globant $NYSE:GLOB. Original analysis can be seen here .
**Full disclosure: I am still a holder at $55.00. Cost average is now near $39.50.**
TECHNICAL ANALYSIS
The stock price for NYSE:GLOB is currently trading within the parameters of my "crash" simple moving average area (green lines). Before the most recent earnings call, I grabbed another round of shares at $33.00 as it hit the bottom of this channel. Caution here is there are still open price gaps on the daily chart down near $16-$17. These will likely get filled at some point in the life of the company. I wouldn't be shocked if this happened in the near-term. But, unless fundamentals of this company change significantly, that area would represent a personal and final major buy opportunity. When it comes to fundamentals, this company is solid. But are the fundamentals accurate ?
FUNDAMENTALS
P/E = 16x
Forward P/E = 11x
Intrinsic Value = Range between $74.72 and $210.21, depending on the source.
Bankruptcy Risk (Altman's Z Score) = 3 (low risk)
Debt-to-Equity = .2x (healthy)
Free Cash Flow Yield = 17% (excellent)
Annual Revenue = $2 billion
Float / Short Interest = 43 million (16%), squeeze or collapse?
GROWTH
Steady earnings and revenue growth expected beyond 2026 (flat)
ACTION
Is this a case of a hidden undervalued growth stock waiting to explode or the market knowing something negative that the fundamentals aren't showing / fraud? Without a crystal ball, it's impossible to say. But this can be said about **any stock** (I see you AI bubble). Thus, while I have accumulated more shares at $33.00 and now have a cost average around $39.50, I'm not betting the bank here. I'm just building a solid position and anticipate the possibility that further declines into the teens may be ahead. If not, wonderful.
TARGETS INTO 2029
$47.00 (+42.4%)
$60.00 (+81.8%)
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