To The Moon

The U.S. stock market had a milestone week ending May 8, 2026, characterized by record highs and strong economic data that countered ongoing geopolitical tensions. The $S&P 500(.SPX)$ and $NASDAQ 100(NDX)$ both hit fresh all-time highs as the “V-shaped recovery” and the “Three Weekly Soldiers” setups continue being validated.

This is the sixth consecutive weekly gain for the SPX and the NDX. Technology and semiconductors continued to lead the charge, fueled by persistent demand for AI infrastructure. Conversely, the energy sector lagged mid-week but saw late recovery as oil prices fluctuated.

April Jobs Report: The U.S. economy added 115,000 jobs in April, nearly double the 65,000 expected. The unemployment rate held steady at 4.3%, signaling a resilient labor market despite higher energy costs.

Jobless Claims: Initial claims marked 200,000 versus 205,000 expected, further reinforcing the narrative of economic stability.

Iran Peace Hopes: Markets were highly sensitive to news of a potential 14 point peace plan involving Iran. Renewed optimism for a diplomatic solution caused oil prices (WTI) to drop as much as 7.4% during the week.

The Q1 earnings season remains a primary driver for equity performance, $Advanced Micro Devices(AMD)$ gained 26.2% during the week, while $Micron Technology(MU)$ had its best week in two decades gaining +37%.

Navigating Market Structure: The Power of Weekly Levels

Support and resistance levels allow us to define the direction of price action. By utilizing our “bullish above, bearish below” model, we can validate high-probability setups with precision. For this week, the Central Weekly Level (CWL) for the S&P 500 (SPX) at 7,203 acted as our critical line in the sand (or 717 for $SPDR S&P 500 ETF Trust(SPY)$ ). On Monday, the price attempted to breach this level, but the zone held as firm support. This defense fueled a rally that ultimately surpassed our bullish target of 7,368.

The price action was even cleaner for the Nasdaq 100 (NDX). The CWL of 27,458 was never breached (or 667 for $Invesco QQQ(QQQ)$ ), even during Monday’s volatility. Following a brief consolidation, the price moved systematically through each level. By Tuesday, the Nasdaq reached its second bullish milestone of 28,039, and after consolidating that afternoon, it continued higher with major conviction. Similarly, the $iShares Russell 2000 ETF(IWM)$ held its key level of 276.4 despite a momentary dip on Monday, eventually reaching our second bullish target of 285.

The efficacy of these levels was also evident in individual stocks: for $Tesla Motors(TSLA)$ we anticipated a CWL of 384. This level acted as precise support on both Monday and Wednesday, confirming the bullish bias we anticipated in the Weekly Compass.

$Alphabet(GOOGL)$ : After holding its 369 CWL, Google moved directly toward its bullish target of 397, finding resistance at that level.

😍 Been eyeing Tiger merch but short on Tiger Coins? Now's your chance.

🎁 We’ve selected 4 high-demand items across practial, lifestyle, and learning, now with a lower redemption threshold!

Hot Merch Returns · Up to 43% Off