The Trading Post | 05.20.26

May 20, 2026

Good morning,

US futures are sliding into the open, Nasdaq is taking the heavier hit, bonds are catching a modest bid, gold is firming, and today’s tape has one obvious scheduled landmine: the FOMC minutes at 2:00 p.m. ET. So, yes, the market may spend half the day pretending to trade fundamentals before hanging on every adjective from the Fed.

Let’s jump in.

Yesterday’s Post-Market Performance

As of 05.19.26 market close.

Market News

  • US index futures soften, with tech leading the stumble: S&P 500 futures are lower pre-market while Nasdaq 100 futures underperform, putting QQQ/NQ and mega-cap growth names on early watch for failed bounces and opening-range pressure. MarketWatch / Yahoo Finance

  • Rates ease a bit, but growth stocks are not exactly exhaling: Treasury futures are modestly firmer after recent yield spikes, yet elevated rates still create a lousy backdrop for long-duration tech. Translation: weak charts may stay weak. Trading Economics

  • Gold firms while crude stays relatively calm: Oil is not signaling a fresh supply panic, but gold is holding a healthy bid. That keeps GLD/GC pullback trades interesting if equities remain soft and risk appetite stays politely unavailable. MarketWatch

  • The Fed minutes are the day’s main macro event: The April 28–29 FOMC meeting minutes hit at 2:00 p.m. ET, which could reshape rate expectations and jolt yields, index futures, and high-beta tech. Midday chop may simply be the market conserving energy for the main event. Federal Reserve

  • Expect a technical, levels-driven morning before the Fed takes the wheel: Overnight highs/lows, VWAP, and prior-day reference points matter more than usual early on. If ES/NQ stay pinned below VWAP, fade-the-pop setups remain cleaner than heroic dip-buying. Markets Insider

Earnings We’re Watching

  • Lowe's Companies, Inc. (LOW) - Wednesday (BMO) 

  • Target Corp. (TGT) - Wednesday (BMO) 

  • TJX Companies Inc. (TJX) - Wednesday (BMO) 

  • Intuit Inc. (INTU) - Wednesday (AMC) 

  • NVIDIA Corp. (NVDA) - Wednesday (AMC) 

  • Urban Outfitters, Inc. (URBN) - Wednesday (AMC) 

Trade Ideas

Adobe Systems Incorporated (ADBE), Arista Networks, Inc (ANET), Aon Corporation (AON),
Cameco Corporation (CCJ)

C.H. Robinson Worldwide, Inc (CHRW), Dollar Tree, Inc (DLTR), Elastic N.V. (ESTC),
Eaton Corporation (ETN)

Expeditors International of Washngtn (EXPD), FedEx Corporation (FDX), First Solar, Inc (FSLR),
SPDR Gold Trust, Inc (GLD)

Home Depot, Inc (HD), IntercontinentalExchange, Inc (ICE), ICON plc (ICLR), Intuit Inc (INTU)

Jacobs Engineering Group Inc (J), Drxn Dly S&P Biotech Bull 3X (LABU), Cheniere Energy, Inc. Common (LNG), Cloudflare, Inc (NET)

Paylocity Holding Corporation (PCTV), S&P 500 Bull 3X (SPXL), TE Connectivity Ltd (TEL),
Valero Energy Corporation (VLO)

Want to learn how we trade these? Learn the setup we call the “High Volatility Switchback” trade.

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Daily Moment of Zen

❝

The stock market is a device for transferring wealth from the impatient to the patient.

Warren Buffett

Why It Matters:

Patience sounds calm and noble until the market starts moving without you. Then suddenly every five-minute candle feels like a personal insult. Buffett’s point is brutally simple: markets reward people who can wait for quality setups, let good trades work, and avoid donating capital to every shiny breakout, panic flush, or headline-induced mood swing.

For active traders, patience does not mean doing nothing. It means waiting for confirmation instead of forcing action, respecting your levels instead of chasing, and understanding that being flat is often a position — just one that doesn’t come with emotional baggage and slippage. The impatient trader wants constant opportunity. The patient trader wants the right one. Guess which account usually survives long enough to compound.