US Consumer Spending Rises 0.1% in April

NDX is exhibiting positive momentum with a 2% daily gain, trading above its 20-day simple moving average (SMA). The Relative Strength Index (RSI) at 63.6 is not yet in overbought territory, suggesting further upside potential. Although the Moving Average Convergence Divergence (MACD) line remains below the signal line, the gap is narrow, indicating a possible crossover in the near term. A slight increase in consumer spending, signaling no slowdown in economic activity, could support market sentiment. The short-term uptrend is expected to continue, but the 30,000 level should be monitored as a resistance point.

The DXY is trading at 99.20, just below the 20-day SMA (99.31) and slightly above the 50-day SMA (99.21). The RSI at 44 indicates weak momentum, the MACD remains below its signal line, and overall momentum is negative. A 0.1% increase in consumer spending may fall short of expectations, potentially adding further pressure on the dollar. However, the current technical structure does not provide enough signals to determine a clear direction. In the short term, sideways movement within the 99.00–99.40 range is expected.

CVX shares fell 3.6% in the last session to 182.40. Although the RSI at 30.9 is approaching oversold territory, the MACD line remains below the signal line and in negative territory. The price is trading below both the 20-day (186.24) and 50-day (190.71) moving averages, indicating short-term weakness. While a slight increase in consumer spending is positive for energy demand, the deterioration in technical indicators and selling pressure may sustain the bearish trend in the near term.