This brief video provides an overview of the current technical posture & outlook for the US stock market via QQQ & SPY focusing on the daily time frame & highlighting some potential developments to watch for in the coming days. playback speed can be increased in the settings to reduce the video duration
NQ (Nasdaq 100 futures), ES (S&P 500 futures) and SPY (S&P 500 tracking ETF) are backtesting the recently broken 60-minute uptrend lines from below with QQQ gapping back above its comparable uptrend line. click first chart to expand, then click on right to advance to the next expanded chart We have somewhat of a mixed bag as SPY is actually a hair above its trendline but we have a good idea as to whether or not these key large-cap indices will be rejected off these backtests or not very soon as trading normalizes after the first 30 minutes or [...]
Technical analysis of the Aerospace & Defense Sector with an emphasis on the longer-term outlook as well as an update on the ITA swing trade & analysis of the leading defense stocks. playback speed can be increased in the settings to reduce video duration
The following chart & notes outline the entry criterion, price targets, suggested stop & beta-adjusted position size for a swing trade in TZA, 3x Bearish Small Cap ETF.
Not much new to report since the market update video published earlier today. The Nasdaq 100 Emini futures basically spend most of the regular trading session backtesting the 60-minute rising wedge pattern from below following the overnight & early morning session breakdown. NQ 60-min 2 June 18th Also worth noting is the fact that 4 of the 5 FAAMG stocks; AMZN, GOOGL, MSFT & FB, once again did most of the heavy lifting for the Nasdaq 100 with green closes ranging from +0.48% to +2.10% with AAPL closing slightly red at -0.05%. The effect of the top-heavy FAAMG stocks [...]
Technical analysis highlighting some recent developments & key levels on the US stock market & semiconductor sector via SPY, QQQ, ES, NQ, SOXX & XSD as well as some of the leading semiconductor stocks. playback speed can be increased in the settings to reduce video duration
Nasdaq 100 Emini futures went on to break down below the bearish rising wedge in the overnight session which is likely to be the catalyst for more downside this week, whether on not /NQ backtests the wedge from below first or not. NQ 60-min June 18th S&P 500 Emini futures continue to move lower since last Wednesday's rising wedge breakdown with a move down to at least 2744 still likely in the coming sessions. 60-minute chart: ES 60-min June 18th