Pre-market trend | Waste Management (WM) weakens again below the zero axis on 5/7, is a short acceleration signal emerging?

Yesterday's close, Waste Management (WM.US) continued its recent weak pattern, with the stock price further under pressure. The daily MACD formed a bearish crossover again below the zero axis, a signal typically seen as a secondary confirmation of a downward trend—indicating that the previous adjustment is not a brief pullback, but rather a renewed attack by the bears after accumulating strength. The trading volume was approximately $352 million, leading within the environmental and facilities services sector, showing a decent level of capital activity, but the direction is leaning towards outflow. The short-term moving average system is in a bearish arrangement, with the stock price continuously operating below the main moving averages, and the market rhythm is biased towards the left side. On the news front, several Federal Reserve officials have recently made statements, with the Cleveland Fed President clearly stating that interest rates will remain unchanged for "a considerable period," and the Boston Fed President also supports downplaying the inclination for rate cuts. The high interest rates continue to exert pressure on defensive sectors like utilities and environmental services, as these high-dividend, low-elasticity stocks are often the first to be impacted during interest rate-sensitive periods. Additionally, U.S. Treasury debt has surpassed $39 trillion, reaching a new high, and the deteriorating fiscal outlook has raised market doubts about the valuation premium of defensive sectors. Overall, the macro environment is not friendly to stable companies like Waste Management in the short term. From a technical perspective, the second death cross below the MACD zero axis often indicates that the adjustment cycle may be prolonged, and the moving average resistance is unlikely to be effectively broken in the short term. In terms of volume, although the trading volume is high, considering the continuous decline in price focus, the high trading volume reflects more of the turnover and reduction of positions by holders, rather than the proactive establishment of new positions by new funds