Retail investors are significantly re-entering the market, with trading activity in May projected to surpass all previous months, according to Citadel Securities. Gross retail cash volumes reached the 96th percentile in April, and May’s activity is currently on track to be approximately 12% higher than January 2021 levels.
In the short term, the Invesco S&P 500 High Beta ETF (SPHB) experienced its worst two-day drawdown in four years as the market faces a minor pullback. Conversely, the Nasdaq 100 Index ETF (QQQ) has gone 28 sessions without touching its short-term 10-day moving average, indicating strong market momentum.
Key market focus is on NVIDIA’s upcoming Q1 2027 earnings report scheduled for May 20th, with Zacks Consensus Estimates indicating the company could more than double its earnings year-over-year. NVIDIA’s performance will likely influence market direction amidst high investor expectations.
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