Posted by Nick Santiago

Bull markets are born in pessimism, grow on scepticism, mature on optimism and die on euphoria.

John Templeton

Market Sentiment: Daily chart bullish, Weekly chart bullish: Today, the major stock indexes gained again on extremely light volume. New highs were made on the S&P 500 & NASDAQ. Traders must keep continue to keep a cautious stance until the finacial stocks firm up.

Tonight, the Daily Market Report material will be presented at the start of the No-Hype Live broadcast. The broadcast will begin at 5:15 pm EST. I hope to see you all there! Special Note: There will be no Nightly Analysis Video tomorrow night due to my travel plans. I will cover everything in the Friday Nightly Analysis Video on Tuesday evening. Have a wonderful Memorial Day holiday! 

The S&P 500 Index finished the session higher by 10.68 closing at $2415.07. The next master resistance levels for the S&P 500 Index are 2425 and 2448. The master support levels for the S&P 500 Index are 2400, 2375, 2351, 2327, 2302, 2289, 2255, 2221, 2198, 2174, 2148, 2125, 2100, 2081, 2055, 2033, 2011, 1993, 1967, 1949, 1923, 1905, and 1879.

July crude (CL-N7) finished the session lower by $2.48 to close at $48.87 a barrel. The master resistance levels for crude are 49.00, 53.00, 57.00, 61.00, 66.00, 69.50, 74.00, 79.00, 84.00, 89.00, 95.00, 100.00, 105.00, 109.00, 115.00, 119.00, and 125.00. The next master support levels for crude are 46.00, 42.00, 40.00, 37.00, 34.00, 31.00, 28.00, 25.00, and 23.00. Please remember oil is very sensitive to adverse weather, geopolitical events, and the U.S. Dollar.

June gold (GC-M7) finished the session higher by $3.10 closing at $1256.30 an ounce. The master resistance levels for gold are 1264, 1281, 1300, 1317, 1337, 1353, 1372, 1410, 1428, 1449, 1466, 1486, 1504, 1524, 1543, 1565, 1583, 1604, 1623, 1644, 1663, 1684, 1703, 1726, 1746, 1758, 1769, 1782, 1800, 1825, 1842, 1867, 1886, 1911, 1930, 1955, 1974, and 1999. The master support level for gold are 1244, 1228, 1210, 1994, 1176, 1160, 1142, 1126, 1092, 1075, 1060, 1043, 1028, 1011, and 996.

The 10-year bond yield finished the session lower by 0.011 closing at 2.255%. The master resistance levels for the yield are 2.33%, 2.41%, 2.49%, 2.57%, 2.65%, 2.73%, 2.81%, 2.89%, 2.98%, 3.07%, 3.16%, 3.25%, 3.34%, 3.43%, 3.52%, 3.61%, 3.71% 3.81%, 3.91%, and 4.01%. The master support levels for the yield are 2.25%, 2.11%, 2.04%, 1.97%, 1.90%, 1.83%, 1.76%, 1.69%, 1.63%, 1.57%, 1.51%, 1.45%, 1.39%, and 1.33%.

Posted by Nick Santiago

First comes thought; then organization of that thought, into ideas and plans; then transformation of those plans into reality. The beginning, as you will observe, is in your imagination.

Napoleon Hill

Market Sentiment: Daily chart bullish, Weekly chart bullish. Today, the major stock indexes gained on extremely light volume. Traders must continue to keep a cautious stance until the finacial stocks firm up.

The S&P 500 Index finished the session higher by 5.97 closing at $2404.39. The next master resistance levels for the S&P 500 Index are 2375, 2400 and 2448. The master support levels for the S&P 500 Index are 2351, 2327, 2302, 2289, 2255, 2221, 2198, 2174, 2148, 2125, 2100, 2081, 2055, 2033, 2011, 1993, 1967, 1949, 1923, 1905, and 1879.

July crude (CL-N7) finished the session lower by $0.13 to close at $51.35 a barrel. The master resistance levels for crude are 53.00, 57.00, 61.00, 66.00, 69.50, 74.00, 79.00, 84.00, 89.00, 95.00, 100.00, 105.00, 109.00, 115.00, 119.00, and 125.00. The next master support levels for crude are 49.00, 46.00, 42.00, 40.00, 37.00, 34.00, 31.00, 28.00, 25.00, and 23.00. Please remember oil is very sensitive to adverse weather, geopolitical events, and the U.S. Dollar.

June gold (GC-M7) finished the session lower by $2.40 closing at $1253.20 an ounce. The master resistance levels for gold are 1264, 1281, 1300, 1317, 1337, 1353, 1372, 1410, 1428, 1449, 1466, 1486, 1504, 1524, 1543, 1565, 1583, 1604, 1623, 1644, 1663, 1684, 1703, 1726, 1746, 1758, 1769, 1782, 1800, 1825, 1842, 1867, 1886, 1911, 1930, 1955, 1974, and 1999. The master support level for gold are 1244, 1228, 1210, 1994, 1176, 1160, 1142, 1126, 1092, 1075, 1060, 1043, 1028, 1011, and 996.

The 10-year bond yield finished the session lower by 0.019 closing at 2.266%. The master resistance levels for the yield are 2.33%, 2.41%, 2.49%, 2.57%, 2.65%, 2.73%, 2.81%, 2.89%, 2.98%, 3.07%, 3.16%, 3.25%, 3.34%, 3.43%, 3.52%, 3.61%, 3.71% 3.81%, 3.91%, and 4.01%. The master support levels for the yield are 2.25%, 2.11%, 2.04%, 1.97%, 1.90%, 1.83%, 1.76%, 1.69%, 1.63%, 1.57%, 1.51%, 1.45%, 1.39%, and 1.33%.

Posted by Nick Santiago

Nothing great was ever achieved without enthusiasm.

Ralph Waldo Emerson

Market Sentiment: Daily chart bullish, Weekly chart bullish. Today, most of the leading stock indexes finished the session higher on extremely light volume. Traders must keep a cautious stance until the finacial stocks firm up.

The S&P 500 Index finished the session higher by 4.40 closing at $2398.42. The next master resistance levels for the S&P 500 Index are 2375, 2400 and 2448. The master support levels for the S&P 500 Index are 2351, 2327, 2302, 2289, 2255, 2221, 2198, 2174, 2148, 2125, 2100, 2081, 2055, 2033, 2011, 1993, 1967, 1949, 1923, 1905, and 1879.

July crude (CL-N7) finished the session higher by $0.34 to close at $51.48 a barrel. The master resistance levels for crude are 53.00, 57.00, 61.00, 66.00, 69.50, 74.00, 79.00, 84.00, 89.00, 95.00, 100.00, 105.00, 109.00, 115.00, 119.00, and 125.00. The next master support levels for crude are 49.00, 46.00, 42.00, 40.00, 37.00, 34.00, 31.00, 28.00, 25.00, and 23.00. Please remember oil is very sensitive to adverse weather, geopolitical events, and the U.S. Dollar.

June gold (GC-M7) finished the session lower by $5.90 closing at $1255.60 an ounce. The master resistance levels for gold are 1264, 1281, 1300, 1317, 1337, 1353, 1372, 1410, 1428, 1449, 1466, 1486, 1504, 1524, 1543, 1565, 1583, 1604, 1623, 1644, 1663, 1684, 1703, 1726, 1746, 1758, 1769, 1782, 1800, 1825, 1842, 1867, 1886, 1911, 1930, 1955, 1974, and 1999. The master support level for gold are 1244, 1228, 1210, 1994, 1176, 1160, 1142, 1126, 1092, 1075, 1060, 1043, 1028, 1011, and 996.

The 10-year bond yield finished the session higher by 0.031 closing at 2.287%. The master resistance levels for the yield are 2.33%, 2.41%, 2.49%, 2.57%, 2.65%, 2.73%, 2.81%, 2.89%, 2.98%, 3.07%, 3.16%, 3.25%, 3.34%, 3.43%, 3.52%, 3.61%, 3.71% 3.81%, 3.91%, and 4.01%. The master support levels for the yield are 2.25%, 2.11%, 2.04%, 1.97%, 1.90%, 1.83%, 1.76%, 1.69%, 1.63%, 1.57%, 1.51%, 1.45%, 1.39%, and 1.33%.