The conservative Weekly Trend Model turned positive on Friday in both the Russell 2000 and the S&P 500; whereas, the Nasdaq 100 turned positive back on April 17.
For now, the process debunks any notion of selling in May.
The S&P 500 volatility term structure's steepness has normalized, although higher in value numerically, and VIX is close to normalizing its term structure to contango.
This week has an option implied move of + / - 79 points or 25% implied volatility, for a range of 3009 to 2850.
The Economic Calendar is standard with a lot of Fedspeak, and attention remains on the pace of state re-openings.
Earnings Season continues, but not at a rapid pace with 86% of the S&P 500 already reporting.
Updated Index, Commodity, and Treasury Levels.
Have a great week.
All the best,