Week in Review — April 21–25, 2026
YTD Scoreboard: S&P 500: +4.2%
Nasdaq Composite: +6.1%
Russell 2000 (IWM): +9.8%
Small caps continue to lead. That’s worth paying attention to.
The Week
The most important development this week was the first breadth flip since 3/31. The breadth figures I track — the ones that dictate my short-term swing trading approach — closed below the 5-day moving average. This is the first arrow across the bow that says hey, slow down a little.
This does not mean go short. It means be careful with new buys.
You can usually give it until the 5-day crosses below the 10-day on the way down before getting more defensive.
But I’ve got one foot out the door.
It’s been a great month.
By Wednesday, I looked at my month-to-date position and made a decision: if the setups are still there, I’m willing to give back just 1.5% of my monthly gains. That’s it. That’s my line. The rest gets protected.
Setups are still working. Not many stocks are breaking down. But the environment has shifted, and I’m treating it accordingly.
The Focus
Same as last week: heavily shorted names, some semis, and some extended stocks to get involved on the short side.
The best thing this market can do right now is rotate into new names, and I believe we started to see that last week.
Data centers — APLD, CIFR, WULF, IREN — all constructive. All have been on the list recently.
What I Do
Every day, I narrow down a universe of ~6,000 stocks to a handful of names. No fluff. No long-winded posts. Just the names, the setups, and the levels. If it triggers, I act. If not, I wait.
