Friday's session sent U.S. indices into the holiday weekend on a strong note. The Dow Jones Industrial Average rose 0.58% to a new all time high of 50,579.70. The S&P 500 gained 0.37% to 7,473.47, capping its eighth consecutive weekly advance — the longest streak since December 2023. The Nasdaq Composite added 0.19% to close at 26,343.

For active day traders, though, the gap between Friday's close and Tuesday's open is the quietest stretch of the year. U.S. exchanges are closed Monday for Memorial Day, delaying the next regular session until Tuesday, May 26.

Quantum dominates the weekend chatter

The biggest catalyst holding trader attention through the long weekend is the Commerce Department's reported plan to award roughly $2 billion in grants and incentives to nine quantum computing companies, including direct equity stakes. D-Wave Quantum (QBTS) surged 16% to 27% on Friday. Rigetti Computing (RGTI) gained 14% to 19%. IBM (IBM) rose about 12%.

The debate among short-term traders is whether this marks a turning point for a high-risk sector that has mostly traded on narrative, or a speculative spike that will fade. @thestockwhale, one of the louder momentum voices, is firmly in the bullish camp: "In 2025, I told you to buy quantum stocks and we made 400%+ together. In 2026, I'm telling you to buy them again because we're going to make 1,000%+ together."

What to watch Tuesday

Tuesday's session could see catch-up moves and lower holiday-week volume. Key data on the calendar includes the FHFA Home Price Index and Conference Board Consumer Confidence. Earnings from AutoZone (AZO) and Zscaler (ZS) are also scheduled.

Technically, the S&P 500 is trading above all major moving averages (20, 50, 100, 200 day) in a clear uptrend, but momentum indicators like RSI are approaching overbought territory. SPY resistance sits around 748 to 750. A clean break above that range opens the door to higher targets.

For now, day traders are digesting the week's moves and positioning for Tuesday. As @MichaStocks noted in his weekly technical recap, the trend is healthy, but the market could use a breather.