Despite a midweek bounce, the broader stock market remains in a fragile state, with the S&P 500 testing key resistance areas, including the 50-day moving average and anchored VWAP from the recent sell-off. Stocks like Tesla and Palantir are attempting to stabilize but still lack the strength to confirm a reversal. While certain stocks, such as ALKS and TEM, are showing promise, the market remains unforgiving to weak setups. With declining moving averages across major indices, traders should stay patient and wait for stronger confirmation before taking long positions.
