Day-Trading Scenarios for May 5, 2026

Happy Cinco. Market moving back up on low volume so far.

Needs to get above 49325 to have more clear sailing.

Yesterday the key driver: Escalating tensions in the Middle East (US-Iran related incidents in the Strait of Hormuz, strikes, and intercepts). This pushed oil prices sharply higher (WTI up >4%), raising inflation fears, lifting bond yields (10-year to ~5-week highs), and weighing on equities—especially the Dow, which has heavier energy/industrial exposure.

Bias: Short-term momentum mixed to cautiously positive on any de-escalation, but overbought signals (e.g., RSI) and recent rejection near 50k suggest caution. Broader trend remains bullish off April lows, with the index up significantly month-to-date but vulnerable to geopolitical swings.

Look to buy a SMF pullback.

4-Month Bill Settlement

International Trade in Goods and Services

 8:30 AM ET

PMI Composite Final

 9:45 AM ET

New Home Sales

 10:00 AM ET

ISM Services Index

 10:00 AM ET

JOLTS

 10:00 AM ET

Michelle Bowman Speaks

 10:00 AM ET

New Home Sales

 10:01 AM ET

Treasury Buyback Announcement (Preliminary)

 11:00 AM ET

4-Week Bill Announcement

 11:00 AM ET

8-Week Bill Announcement

 11:00 AM ET

4-Month Bill Announcement

 11:00 AM ET

6-Week Bill Auction

 11:30 AM ET

Michael Barr Speaks

 12:30 PM ET

<<<<<<<<<<<<<<<<<<<<<<<<<<<

DATE: 5/5/2026

TIME: 9:02 AM

HIGH: 49805

LOW: 49016

CLOSE: 49079

PIVOT: 49300

SUPPORT: 48929

RESISTANCE: 49477

SWING MAGNITUDE: 197

TIME OF COMMENT: 9:02 AM

COMMENT: For today's real-time trading calls enjoy a One Week Trial at https://www.eminiace.com/services