$NVDA some would say this is a MAJOR weekly level. Think about the significance this has on the broader tech trade if this gives way and then likely the contagion that would spill over. Certainly would like to see this hold.
$ZECUSD went from quiet wedging at support to a full on support meltdown on volume. Wasnt bad enough they killed the stock leader. Crypto leaders are next it seems. Could be a long way down if this is legit.
$SPY$SPX this is from Last Octobers 'kill candle'. Yes we retraced then some but notice how things really werent right ever since then with almost zero sustained upside above it for Months? Certainly feels like that scenario could play out with last Thursdays candle
$QQQ for now just a simple breakdown retest within the weekly candle as the 10 week steepens to the downside. Daily shows a very clear bear flag within last Thursdays candle on low volume. Not seeing much tight underneath. Easy sit out market for now for me.
Strong moves and decent looking charts out of healthcare sector and soft in software. No denying that. For my style of buying tight areas vs key MAs, opportunities are almost zero.. So I wait. Not fun but do what i have to.
$SPY (Left) and $QQQ (right) these charts are pure chaos. $SPY rejecting at Sept 16th lows for now. See if this tightens and goes higher or not. Goes without saying but we sure arent out of the woods yet. Almost no tight action coming it, was an easy sit out day despite huge move
$DELL another prior leader looking to be starting its descent not ending it as crazy as that sounds. Could we see a 169 retest? Looking at historical charts, I would argue thatd be perfectly normal.
$MU big time stage 3 into stage 4 break in arguably THE leader. Not great here. To Whomever wants to quote P/E. Hows that p/e gonna look when this hits the 450 breakout retest mark? This is STARTING its decline not ending it.. Fundamentals are gonna matter for a bit
$QQQ double top breakdown. One would think we see at least 631 on the downside. Id like to see something like what we saw in April. Retest and undercut last weeks low, close in upper half of range
Strong move in tech yesterday. Here's where context matters. Big % days that are still inside a massive sell candle are not bullish. Id much rather see a final flush and close in upper half of range. Its how the last 3 or 4 weekly lows were put in.
$APPN Not only do we have big ER gap downs in prior leaders but the ones gapping up immediately sell off (even on strong day for tech). Stating the obvious but tough market out there