{"id":64288,"date":"2025-05-22T02:00:11","date_gmt":"2025-05-22T07:00:11","guid":{"rendered":"https:\/\/www.tradestation.com\/insights\/?p=64288"},"modified":"2025-05-22T07:48:11","modified_gmt":"2025-05-22T12:48:11","slug":"market-trends-may-22","status":"publish","type":"post","link":"https:\/\/www.tradestation.com\/insights\/2025\/05\/22\/market-trends-may-22\/","title":{"rendered":"The &#8216;Sell America&#8217; Trade Might Be Back"},"content":{"rendered":"<p>Downloads are available\u00a0<a href=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/MT-Public-Materials-May-2025A.zip\">here<\/a>. TradeStation\u2019s ideas on TradingView are\u00a0<a href=\"https:\/\/www.tradingview.com\/broker\/TradeStation\/ideas\/\">available here<\/a>.<\/p>\n<p>Check out our next \u201c<a href=\"https:\/\/streamyard.com\/watch\/uRvXkjGS9kMS\" target=\"_blank\" rel=\"noreferrer noopener\">State of the Market<\/a>,\u201d on Monday, 6\/9.<\/p>\n<h2 class=\"wp-block-heading\">Sizing Up the Market<\/h2>\n<ul>\n<li>S&amp;P 500 drops after outside day, followed by inside day<\/li>\n<li>Stuck in potential range below record high\n<ul>\n<li><strong>5971:<\/strong> Monday high near 12\/27 weekly close<\/li>\n<li><strong>5786:<\/strong> 5\/12 low, near 3\/25 high<\/li>\n<\/ul>\n<\/li>\n<li>Wilder&#8217;s Relative Strength Index (RSI) peaks near overbought<\/li>\n<li>For 1st time since 4\/21, fewer index members are above 20-day MA than above 50-day MA.<\/li>\n<li>For 1st time since 4\/22, the index ended Wednesday below its 8-day EMA.<\/li>\n<li>See our TradingView study of stocks vs. gold<\/li>\n<li>Intermarket:\n<ul>\n<li>VIX back above 20<\/li>\n<li>Treasury yields, gold climbing<\/li>\n<li>U.S. dollar index falling<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<div id=\"attachment_64296\" style=\"width: 1034px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-64296\" class=\"size-large wp-image-64296\" src=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250521-1024x490.jpg\" alt=\"\" width=\"1024\" height=\"490\" srcset=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250521-1024x490.jpg 1024w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250521-300x143.jpg 300w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250521-768x367.jpg 768w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250521-1536x734.jpg 1536w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250521-1080x516.jpg 1080w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250521.jpg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><p id=\"caption-attachment-64296\" class=\"wp-caption-text\"><em>S&amp;P 500, daily chart, with select patterns and indicators.<\/em><\/p><\/div>\n<h2>&#8216;Sell America&#8217; Returns?<\/h2>\n<ul>\n<li>Dollar index back to mid-April range<\/li>\n<li><a href=\"https:\/\/www.tradestation.com\/insights\/2025\/05\/21\/platinum-rally-china-demand\/\">Platinum (@PL) jumps<\/a> as dollar-averse Chinese buyers seek alternate to gold<\/li>\n<li>Treasuries under pressure:\n<ul>\n<li>30-year yield reaches highest since October 2023<\/li>\n<li>10-year yield reaches highest since February<\/li>\n<li>20-year Treasury bonds price at 5.047%, up from 4.81% in April. Bid-to-cover ratio drops from 2.63x to 2.43x<\/li>\n<li>Japan faces similar challenge, with 20-year JGB yields reaching the highest since October 2000<\/li>\n<\/ul>\n<\/li>\n<li>ECB cites &#8220;regime change&#8221; as investors reassess safety of U.S. assets, which could have &#8220;potentially far-reaching consequences.&#8221;<\/li>\n<\/ul>\n<h2>News &amp; Views<\/h2>\n<ul>\n<li>UBS expects volatility as Wall Street demands confirmation of trade deals, worries about fiscal outlook.<\/li>\n<li>Jensen Huang: Chip export rules a &#8220;failure,&#8221; have cut NVDA&#8217;s Chinese market share from 95% to 50%<\/li>\n<li>Reuters: OPEC+ production hike intended to crush U.S. shale producers, regain U.S. market share.<\/li>\n<li>Musk refocuses on TSLA, commits to 5 more years as CEO<\/li>\n<li>Richard Bernstein, Jamie Dimon: Profit cycle peaking\n<ul>\n<li>Dimon sees credit risk spreading<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Upcoming Events<\/h2>\n<ul>\n<li>Earnings tonight: DECK<\/li>\n<li>Mon 5\/26: Memorial Day<\/li>\n<li>Tue 5\/27: Durable goods\n<ul>\n<li>Earnings: OKTA<\/li>\n<\/ul>\n<\/li>\n<li>Wed 5\/28: FOMC minutes\n<ul>\n<li>Earnings: <em><strong>**NVDA**<\/strong><\/em> CRM HPQ<\/li>\n<\/ul>\n<\/li>\n<li>Thu 5\/29: Revised GDP (w\/PCE), jobless claims, crude-oil inventories<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The S&#038;P 500 is in a potential range as yields jump and the U.S. dollar falls.<\/p>\n","protected":false},"author":39,"featured_media":63321,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"categories":[1276,12],"tags":[],"class_list":["post-64288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-trends","category-markets","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The &#039;Sell America&#039; 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