US EQUITIES WEEKLY OUTLOOK — S&P 500 / NASDAQ (11–15 MAY 2026)

This is a bullish but dangerous week for US equities.

The macro backdrop remains supportive:

• Tight Sun–Jupiter sextile

• Saturn structural floor active

• No major retrograde suppression

• Global liquidity backdrop still constructive

But momentum is becoming stretched.

Current conditions:

S&P 500 RSI: 74.6

NASDAQ RSI: 80.0 (extreme overbought)

Biggest warning:

Mercury, the primary NASDAQ karaka, is fully combust all week.

Translation:

NASDAQ may underperform even if the broader market remains bullish.

Key setup:

Thursday’s Mercury could produce one final tech rally spike before exhaustion pressure returns.

Best positioning this week:

• S&P = hold existing longs only

• NASDAQ = trim aggressively into strength

Thursday is the critical inflection session.