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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)...
This week, the DXY continued to push higher and gave us what can be counted as five up off of the 97.46 low. With that move, I am now leaning toward a bottom being in place for the wave 2, which has been laid out in white on the charts. So as long as we can hold the low at the 97.43 low, I would expect to see higher levels in the weeks ahead. Smaller-Degree StructureWith what I can count as five up off of the 97.
The restructuring is behind it. The dividend is rebuilt. The crowd may have already reflected the story.There was a time, not long ago, when ATT was the stock investors loved to criticize.The bloated media acquisition. The dividend cut that broke a decades-long streak of payouts. The balance sheet that looked like it belonged to a different era of corporate ambition. For income investors in particular, ATT became a cautionary tale — the blue chip that forgot what made it blue.And then, methodically, the company fixed it.The media assets were divested. The balance sheet was restructured.
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