MARKET PULSE | 5/11 · AlphaEdge Traders

MARKET PULSE | 5/11

Today's market closed modestly higher with the S&P 500 and Russell 2000 setting fresh record highs.

The Nasdaq held up despite some morning

selling pressure, finishing in positive territory thanks to strength in semiconductors.

THE TAPE TODAY

SPY closed at $737.62, +0.83% — another all-time highQQQ closed around $712, fluctuating between $708.91 and $714.59. Russell 2000 set fresh record highs as well

The story of the day was the chip sector quietly carrying the broader market. AMD finished +11.44% to $455.19 — institutional buying flowed

hard into semiconductors despite ongoing geopolitical concerns around the Iran situation. Intel popped +5.7% on news of a preliminary deal

to manufacture chips for Apple. Qualcomm jumped +9.5% in early trading after beating Q2 earnings and confirming data center chip shipments to a major hyperscaler.

Oil prices rose again as the Iran conflict continues to drive volatility in energy markets. President Trump rejected Iran's latest proposal as "totally unacceptable," and Tehran warned UK and French

warships in the Strait of Hormuz "will be met with a decisive response."

Energy stocks moved on the headlines.

WHAT TYDEFLOW CAUGHT

XLE — HIGH CONVICTION Short-term ENTRY fired today. The energy ETF moved from the entry around $56 to $57.04 by mid-afternoon. Short-term

tier means 1-3 day target hold — this is the kind of tactical signal Tydeflow is built to surface when institutional positioning aligns with a near-term catalyst. The Iran-driven energy bid was visible in

the tape before the news cycle confirmed it.

The semiconductor strength across AMD, Intel, and Qualcomm reflects continued institutional accumulation in the AI memory/chip supply chain — a theme that's been building since the HBM supply constraints became market consensus.

THE BIGGER PICTURE

A few signals worth flagging beneath the surface of new highs:

The S&P 500 closed Friday 7.7% above its 50-day moving average, but only 52% of its components closed above their own 50-day moving

averages. That kind of narrow breadth at new highs is rare — BTIG strategist Jonathan Krinsky noted Friday's session was just the third time since 1990 that the index made a new high while having more new lows than highs internally.

Translation: the indexes are at records, but the rally is being carried by a narrowing group of mega caps. That's regime context worth watching. Either the rest of the market joins the leaders (and the rally broadens), or the leaders eventually catch down to the weak breadth.

For Tydeflow users: this is exactly the kind of regime where the indicator's confluence layer earns its keep. The system requires multiple factors to align before firing — including relative strength versus SPY. In narrow markets where only specific stocks are leading, that filter helps separate the actual institutional accumulation from

the broader market drift.

WHAT TO WATCH

Earnings on deck this week with Nebius (NBIS) reporting Wednesday, plus continued attention on the Iran situation and whether Trump's proposed gas tax suspension moves forward. The Trump-Xi summit is the next major macro deadline traders are positioning around.

Stay disciplined. Most of the value isn't in the trade. It's in the wait.

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Tydeflow PRO is currently invite-only on TradingView during the beta period.

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Follow @tydeflowapp on X for daily setup commentary.

Pattern observation, not investment advice.

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MARKET PULSE | 5/11