Trade plan for 5/11 - 5/15

Breakout back tests held last week, but there's always room for Shenanigans!

Last week I noted that it was ‘difficult to be bearish’ because of the length of the consolidation we saw before $ES/SPX futures finally broke out, but I noted that I would take biases on a daily basis. My levels performed extremely well across the board:

I shorted into my 7205.00 level early in the week🎯, and then once we saw 7226.75 holding $ES became a buy. ✅

$GC/gold futures bounced nicely from my intraweek key once again.🎯 Silver is on the verge of a major breakout! But for now it closed right under resistance. This week is very important for precious metals traders and I give all the levels to watch.

I was slightly bearish for $CL/Crude futures last week✅, as I noted in the front part of this note that it rejected from a major resistance. 👀

Summary of Market Action Last Week:

· The indices held breakout back tests early week and then rallied. $NQ/Nasdaq futures was the clear relative strength for the 3^rd week in a row.

· $GDX/gold miners was the relative strength winner for the week, after a couple of weeks in decline. Precious metals closed near critical levels for the next leg.

· $XOP/oil equities decline with $CL/Crude Oil futures as traders favored tech stocks over energy.

Here’s how last week closed out:

For the week ahead (5/11 – 5/15/26)