Trading Room

Global Interaction

Our Live Trading Rooms Bring Together Thousands of Traders from Around the World!

Learn More
Mike Paulenoff

This AM's Spotlight: HD, July Crude Oil & SPY

Good Tuesday Morning, MPTraders!  May 19, 2026: What's on my mind this morning (besides appreciating that I was NOT called for Jury Duty for today!):-- Two trading sessions until Wednesday eve's NVDA Earnings Report...-- The NVDA Earnings reaction (Jensen making the rounds on CNBC, Bloomberg, Fox Business) on Thursday will take the markets into Kevin Warsh's Federal Reserve swearing-in ceremony on Friday afternoon... -- Home Depot Earnings are a big nothingburger for investors this AM, which keeps the stock under pressure and in its bear phase (see below)...

Market Moves Lower But Still Over Downside Pivots

Today, we saw the market move lower; however, we have yet to clear the downside pivots, keeping us in a bit of suspense as we move into the middle of the week. There are a few different ways to count the downside action, none of which are terribly reliable, so for now my main focus is going to be on the larger price pivot/support levels below.As shown on the ES chart, the first pivot level that I am watching comes in at the 7352-7328 zone below.

It’s Not Easy Being Purple

No matter how many times I warn people about how evil a larger degree b-wave can get, I still see people getting caught over-trading during these environments.  And, it is usually because they have not been through many b-waves before and they believe that the death by a thousand cuts (that is typical of trading b-waves) simply will not apply to them.  And, while Kermit the frog is famous for proclaiming “it’s not easy being green,” I am sure Barney would proclaim similarly, “it aint easy being purple either.

Round-The-Clock Expertise

Our Technical Analysts Share Their Expertise 24/7 on a Vast Range of Markets!

Learn More

  Matched
x