Today's Top Trades

RLT Newsletter 4.27.26

Markets continued higher, but if you’ve been paying attention the last several weeks, you already knew that’s been the only path allowed.

This is a massive week for stocks. We’ve got five of the Trillion Dollar Titans reporting, along with a Fed rate decision on Wednesday. The market is pricing in a 100% chance that rates stay unchanged, and with Jerome Powell’s term as Chair ending in about two weeks, it’s fair to question how much weight his commentary will actually carry.

That said, the macro backdrop is still volatile. Oil holding near $100 per barrel for a second straight month keeps inflation concerns alive, and monetary policy is going to remain front and center whether the Fed wants it to or not.

As we move deeper into earnings season, guidance becomes the story. Most AI-driven companies should meet or beat expectations, but the real question is whether they can continue guiding higher. If a major player pulls back on capex, especially in AI infrastructure, you could see a sharp repricing across semis and hardware. This week should give us real clarity there.

SPY Daily Chart

We did start to see some cooling today in the hottest names that have been defying gravity, like AEHR, AMD, and ARM. It looks more like healthy rotation than anything else, with traders taking profits in extended names. As long as earnings hold up, dips should remain buyable. For now, I’m avoiding new exposure in AI hardware until we see how Wednesday and Thursday shake out.

Outside of tech, rare earth and materials names are starting to heat up. One of the setups I covered in last week’s Tuesday Top Trades video, CRML, popped 25% today and still looks constructive, with potential toward $17 as long as it holds Monday’s low and the 100-day SMA.

Lithium Americas Corp

LAC, featured last week, remains one of my favorite charts this week from a risk/reward standpoint. I liked it last week on the test of the 100-day and 200-day SMAs, and while it may not retrace that deep again, a pullback into Monday’s candle would offer a clean entry with defined risk below that level. There’s a major volume shelf underneath price, and with 17 days until earnings, there’s still room for the setup to play out. My primary target remains the gap fill at $7.33, assuming earnings don’t derail it.

LAC Daily Chart

Aehr Test Systems

AEHR has been on an absolute tear. The gap and go on March 31st kicked off a near-vertical move that only just tagged the 10 EMA today. In moves like this, the 10 EMA should hold. If it doesn’t, the 20 EMA becomes the key level, which also lines up with a major gap fill around $76.

If AEHR pulls into that 20 EMA in a controlled way, I could easily see one more leg higher, potentially pushing toward $110. That’s roughly a 45% move from the $76 gap-fill area. My plan will be to watch for strength at the 20 EMA and enter on confirmation on lower timeframes like the 30- or 65-minute charts. A break and close below the 20 EMA would invalidate the short-term bull thesis.

AEHR Daily Chart

Symbotic Inc

SYM is another interesting one here, though earnings in nine days make it a bit trickier. On the daily, it’s setting up well with a March consolidation, breakout, and now a clean retest. Today’s hammer off the 100-day and 200-day SMAs is exactly what you want to see. For a short-term trade, that hammer low needs to hold.

I may look at playing this one with married puts to define risk through earnings and avoid getting caught in a gap down.

Zooming out, SYM has a large double bottom on the monthly followed by a developing bull flag right at resistance. If this breaks out, it has the potential for a sustained move higher over time.

SYM Chart