Day-Trading Scenarios for May 4, 2026

Market still trading inside Thursday's range.

To resume the uptrend we must take out 49783. Then the target will be 48848.

• The Dow Jones Industrial Average closed at 49,499.27, down ~153 points (-0.31%). It underperformed the broader market.

• S&P 500 rose +0.3% to a new record close around 7,230.

• Nasdaq rose +0.9% to a new record around 25,114, driven by tech strength (e.g., Apple earnings reaction).

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Futures (/YM June 2026) reflected this, with Friday's settlement or close around the 49,500–49,646 area depending on exact timing. Markets showed resilience despite geopolitical tensions (e.g., Middle East/Hormuz-related oil volatility), with tech and growth names leading while the Dow lagged slightly. The week overall was positive for major indexes.

Bias today: Cautious/neutral. Watch for range trading or reaction to any news. A hold above overnight lows with positive economic data could support a retest higher; failure to hold 49,200–49,300 might see quick downside probes.

Factory Orders

 10:00 AM ET

3-Month Bill Auction

 11:30 AM ET

6-Month Bill Auction

 11:30 AM ET

John Williams Speaks

 12:50 PM ET

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DATE: 5/4/2026

TIME: 9:20 AM

HIGH: 50138

LOW: 49561

CLOSE: 49646

PIVOT: 49782

SUPPORT: 49150

RESISTANCE: 49848

SWING MAGNITUDE: 231

TIME OF COMMENT: 9:20 AM

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