Day-Trading Scenarios for May 1, 2026

Strong move upward with good volume. Happy May 1st.

The market will try for 50,147 today but will meet strong resistance at 50,000.

We want to scale in long again today.

All pullbacks of 125 points should be bought on the stochastics hook.

Broader market context: The S&P 500 rose ~1.02% and hit new all-time highs, while the Nasdaq 100 gained ~0.98–0.9% and also closed near records. It was described as a sharp rally driven by strong corporate earnings momentum (including gains in names like Caterpillar helping the Dow), with the session finishing the best month for the S&P 500 in over five years.

Broader fundamentals remain constructive:

Corporate earnings season has provided tailwinds (solid beats and forward guidance from several large caps).

No major Fed speakers or other blockbuster data today; the calendar is relatively light beyond ISM.

Geopolitical and energy price developments (oil has been volatile) continue as background risks, but the focus has shifted back toward earnings and growth resilience.

PMI Manufacturing Final

 9:45 AM ET

ISM Manufacturing Index

 10:00 AM ET

Baker Hughes Rig Count

 1:00 PM ET

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DATE: 5/1/2026

TIME: 7:38 AM

HIGH: 49934

LOW: 48608

CLOSE: 49835

PIVOT: 49459

SUPPORT: 49548

RESISTANCE: 50147

SWING MAGNITUDE: 221

TIME OF COMMENT: 7:38 AM

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