Technical Analysis Weekly Market Update
By Eli Levy, Senior Analyst
Trend is up. Earnings are good. Breadth is improving. The technicals are clean. The Fed is on hold. And yet I keep coming back to the same point I made last week: chasing all-time highs with this much event risk on the calendar is not for the faint of heart. The setup is constructive — I am not arguing with it — but the path of least resistance for at least one of these next-week events is a sharp, headline-driven reversal.
The market has been forgiving lately; that does not mean it always will be.
If you are long, ride the trend, but keep your stops where they belong and do not let a winning week become a losing month by sizing up into earnings. If you are flat, your edge this week is patience — let the FOMC and the hyperscalers print, then pick your spot.
If you are short, you have been wrong for four weeks and now the chart is wrong too. Perhaps reassess.
Volatility is still the trade of 2026.
That has not changed. What has changed is that we are now grinding higher inside that volatility regime instead of selling off. Respect the tape.
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