Between Hope and Hesitation: Bulls Balance at Key Levels and Hold the Line Ahead of Big Tech Earnings

I. Headlines Behind the Move

Markets opened the week with a split tone: the S&P 500 carried optimism forward, while technology stocks dragged due to concerns around upcoming earnings.

Sellers were active early in the day, but afternoon buying helped stabilize indices.

Importantly, the SMA50 remains a key inflection point watched closely by institutions. Price digestion between 21EMA and 50SMA remains healthy.

Geopolitics: Treasury Secretary Scott Bessent said the ball is now “in China’s court” regarding tariff negotiations.

II. Sector Performance Snapshot

• Leaders: Real Estate (+0.7%), Utilities (+0.7%), Energy (+0.51%), Financials (+0.47%)
• Laggards: Technology (-0.14%), Consumer Defensive (-0.04%)

➡️ Defensive and energy sectors led gains, while tech underperformed slightly.

III. Technical Signals — Strength or Fragility?