Thursday, April 17 – Markets ended the holiday-shortened week with mixed performance: the S&P 500 and NASDAQ closed lower, while the Russell 2000 posted a small gain and semiconductors dropped over 4%. Despite Thursday’s green close and back-to-back inside days, the broader trend remains bearish, with major indexes trading below declining 20-, 50-, and 200-day moving averages and anchored VWAP levels. If the NASDAQ breaks below 438, further downside is likely, and although the Russell shows short-term strength, it’s still a counter-trend bounce. Semiconductors, once market leaders, are showing early signs of distribution—often a bearish signal for the broader market. Financials and energy are approaching key resistance, and mega caps like NVIDIA, Amazon, and Tesla continue to look technically weak. In this environment, where trend direction favors sellers, risk management is crucial. Stay tactical, focus on short-term setups, and trade with the trend. This is not a buy-the-dip market—it’s a time to remain cautious and aligned with bearish momentum.
