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Thursday, May 7, 2026

Trading Journal: May 7, 2026

Daily reversal levels as of the close on May 6, 2026
Major indexes
NameCloseTrModeRevL (D)MoM (D)DaysP/L %Action
S&P 500^SPX7365.11
3
6952.488.18 ▲
20
+8.57%
pP+
Nasdaq 100^NDX28599.17
3
26078.229.44 ▲
20
+14.77%
pP+
Russell 2000^RUT2886.77
3
2695.515.75 ▲
20
+10.49%
Gold (spot)$XAUUSD4691.08
132
4731.87-2.86 ▲
7
-0.09%
US Oil ETFUSO133.95
14
130.505.87 ▼
81
+88.98%
iSh. 20+ Y Tr. Bond ETFTLT86.08
7
86.63-4.78 ▲
43
+2.54%
dBuy
BitcoinBTC_X81434.43
25
74851.094.25 ▲
29
+13.23%

Stock indexes stay double green and on a pP+ signal. Bonds TLT show a bullish divergence (dBuy).

Stock positions:

XOM was closed at a small profit and has been moved to the completed trades list.
ANET declined sharply on adverse earning news, and is giving a Sell signal. That wiped out a 20% paper profit we had in this stock. Unfortunate, but that's how it goes sometimes. Luckily earnings surprises work in both directions. So, we will close ANET at today's Open. It is quite possible the stock will rebound, and we have several advanced strategies to handle that. But that's outside the scope of this post.
DLTR is giving a dBuy (bullish divergence) and will be added at the Open today.

Stocks
NameCloseTrModeRevL (D)MoM (D)DaysP/L %ActionR
Arista NetworksANET147.06
3
164.682.22 ▼
21
+2.84%
Sell
0.61▲ 40
Alphabet Cl. CGOOG395.14
4
336.9910.00 ▲
22
+31.65%
0.75▲ 36
Idex CorpIEX218.19
21
202.836.88 ▲
20
+10.69%
pP
0.34▲ 8
Microchip TechnologyMCHP102.92
3
79.1710.00 ▲
21
+42.90%
0.49▲ 10
Special entries (spBuy or dBuy)
DLTR is on a dBuy signal and will be bought at the Open.
PAYX was bought on a limit Buy at $92 (Apr 30).
ORLA was bought on a spBuy signal at $13.2 (May 1).
Dollar Tree IncDLTR96.51
7
102.09-4.57 ▲
46
+17.93%
dBuy
0.09▷ 47
Paychex IncPAYX91.38
44
90.741.03 ▼
5
-1.66%
-1.02▼ 41
Orla MiningORLA14.57
0
15.31-5.80 ▲
14
+11.70%
0.99▷ 72

Bullish
Weak bullish
Bearish
Mild bearish

Instructions

Quick start guide (no registration needed): ReversalLevels.pdf.

List with completed trades.

Hover or tap on an item in the "Action" column for strategic advice.
Hover or tap in the "Days" column to see details for the current position (based on "Mode").
Hover or tap in the weekly trend ("Tr") column to get the weekly reversal level.

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Note: This trading journal is not a recommendation to invest in the mentioned companies.

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