RSOTC Weekly Recap 7-24-26

The following provides a weekly recap of content published on rightsideofthechart.com between July 20, 2026, and July 24, 2026, as well as some potential developments & key earnings reports to watch for next week.

1. Trade Ideas, Targets Hit & Milestones (July 20 – July 24, 2026)*

*NOTE: Some of the trades below from this AI-generated summary, such as TSLA, were not official trade ideas, but rather included in the “post-earnings predictions” videos calling for the stocks to rise or fall after their quarterly earnings report.

2. Weekly Market Overview & Sector Analysis

Broad Market Indexes & Volatility

• NASDAQ 100 (QQQ / $NDX / /NQ): Broke down below a daily symmetrical triangle pattern. While testing T1 support (~$686 on QQQ / 28,400 on /NQ), buyers are displaying decreasing vigor despite a minor 60-minute positive divergence. Backtests of the broken triangle boundary and 50-day EMA offered objective short entries. Maintained downside targets toward T2 ($662) and T4 / 200-day moving average (~$636). QQQ closed the week right on the bottom of the T1 (first price target & support) zone with positive divergences in place. As such, we’ll have to wait until next week to see if QQQ will once again bounce off that key support, or clearly take it out, thereby increasing the odds the next downside price target(s) will be hit.

• S&P 500 (SPY / $SPX): Broke its primary uptrend line and remains locked in a multi-month sideways consolidation range, facing broad market sell-off pressure.

• Small-Caps (IWM / $RUT / /RTY): Displaying multi-month negative divergences across weekly and monthly timeframes following a daily rising wedge breakdown and backtest. A break below $228 support accelerates downside.

• Volatility Index ($VIX): Continuing to build massive multi-month positive divergence at resistance inside a bullish falling wedge. A $VIX downtrend breakout will signal a broad market correction.

Sectors & Asset Classes

• Semiconductor Sector (SOXX, XSD, SOXS): Under heavy pressure down ~24% from all-time highs. Confirmed a high-level weekly bearish PPO crossover and a weekly bearish engulfing candle off the March 2025 uptrend line. Equal-weighted XSD is testing primary horizontal support, with risk toward its 40-week EMA (~34% total drop from peak).

• Financial Sector (XLF): Highlighted as the core sector holding up the broader equity market. Triggered a sell signal by breaking down from a 60-minute bearish rising wedge following multi-year weekly negative divergence. Initial support sits at $54.92; a loss of $54.92 will catalyze a broader market breakdown.

• Gold, Silver & Miners (GLD, GDX, /GC): Spot Gold / GLD is holding primary horizontal support (~$361 on GLD) with positive divergence on 120-minute and daily charts, setting up a high-conviction counter-trend bounce (~24% bear market rally call on Gold Futures /GC). Gold Miners (GDX) are triggered a buy signal on a breakout above the 60-minute falling wedge, closing the week above it, with GLD remaining above the key 361ish support, keeping both Active Long Trades on buy signals for now.

• Consumer Staples & Packaged Foods (PPC, JJSF, SJM): Selective bullish coverage on packaged food stocks offering favorable risk/reward setups and dividend yields. Pilgrim’s Pride (PPC) forms a falling wedge near $26.65 support; J&J Snack Foods (JJSF) forms positive divergence with a 4.2% yield targeting $98.23.

Fixed Income & Currencies

• 30-Year Treasury Yield ($TYX) & Long Bonds (TLT): $TYX is testing multi-year triple-top resistance around 5.162%. A sustained breakout above ~5.16% would push long-term yields to pre-2008 highs, placing severe pressure on equities and corporate refinancing.

• 10-Year Treasury Yield ($TNX) & IEF: $TNX sits near the top of its range while IEF cracks its primary uptrend line on the weekly chart.

• Investment Grade Corporate Bonds (LQD): Displaying positive divergence, though intermediate trend remains bearish with the daily PPO remaining below its zero line. Next support levels to watch are ~105.30 & then the 103ish level.

• US Dollar Index ($DXY): Testing an uptrend line with negative divergence. EUR/USD shows a bullish falling wedge setup, while USD/JPY displays a rising wedge with three consecutive negative divergent highs.

3. Individual Securities & Earnings Analysis

• Tesla, Inc. (TSLA): Post-earnings bearish/down call played out with a ~17% drop. Sitting at minor support near $310.60 with PPO in bearish territory; not an objective knife-catch candidate at this time.

• Alphabet Inc. (GOOGL): Post-earnings drop of ~7%, hugging its 200-day moving averages. Line-in-the-sand support sits at $313.78.

• Intel Corp. (INTC): Bearish post-earnings call played out, down ~7.5% following a failed breakdown below a bearish rising wedge along with a failed breakout & then drop down to the bottom of & now below the recent 2.5 month sideways trading range/consolidation zone. With my first target of the bottom of that zone (99.59) recently hit & now taken out, that increases the odds of my next downside price targets of 80.40 followed by the intersecting uptrend support and $69.90ish price support + 200-day moving averages being hit in the coming weeks.

• Comfort Systems USA, Inc. (FIX): Bearish post-earnings call played out, dropping ~7% after losing its 50-day EMA. Targets sit at $1,505, 200-day MA, and $1,233.

• MicroStrategy Inc. (MSTR): Highlighted as an aggressive short entry at backtest resistance following a broken downtrend line right off the recent highs on Tuesday of this week. Down ~14% since the call, with high leverage creating forced Bitcoin liquidation risk on further downside.

• Bitcoin ($BTC / /BTC / IBIT): Brief breakout of a bullish falling wedge encountered rejection at resistance. Must break below recent reaction lows to invalidate positive divergence and confirm accelerated downside. Also highlighted as an objective but aggressive short on Tuesday, with the stock closing red every day since.

• Lockheed Martin Corp. (LMT): Bounced off $488 support with positive divergence following a falling wedge backtest, reaching its T3 target ($535 / 200-day MA). T4 resistance acts as a strict exit zone.

• Pilgrim’s Pride Corp. (PPC): Bullish falling wedge pattern consolidating near key horizontal support ($26.65). Breakout trigger above $30.32 targets $34.10 and the 200-day MA.

• J&J Snack Foods Corp. (JJSF): Formed positive divergence in a downtrend with a ~4.2% dividend yield. Primary breakout level at $87.875 (200-day MA) targets $98.23 (~28% upside potential).

• Newmont Corp. (NEM): Bullish earnings call holding above $89.00 horizontal support with positive divergence. GDX is the current proxy/preferred trading vehicle & Active Long Swing Trade for the gold mining sector, although NEM is one of the largest miners & the chart still appears constructive for a potential double-digit rally in the coming months; should both GLD & NEM hold these key support levels they’ve been testing in recent weeks.

• McDonald’s Corp. (MCD): Daily chart exhibits positive divergence at $261.46 support (starter long zone); weekly chart broke its primary secular uptrend line with a long-term bear market target at $228.00.

• ServiceNow Inc. (NOW): Neutral / flat post-earnings following previous long trade completion at the 200-day MA ($136.53).

• United Rentals Inc. (URI): Earnings pop extended into a marginal high, keeping negative divergence intact. Close to triggering a sell signal on a breakdown below the PPO zero line although no sell signals or evidence of a reversal at this time.

• Nokia Corp. (NOK): Oversold after dropping ~44% from peak; testing primary uptrend line and 200-day MAs. Closed the week on uptrend line support as well as the intersecting 200-day SMA (dual support). As such, NOK might be added as an official long swing trade early next week for an “oversold/bounce off support” trade, depending on how the charts look.

4. Key Developments & Levels to Watch Going Forward

1. NASDAQ 100 ($NDX / QQQ / /NQ) T1 Support Test: Watch if QQQ holds or clearly breaches the bottom of the T1 price target/support zone, which comes in around 683.30. A decisive close below opens up a rapid decline towards the next price targets (T2-T4)/ 200-day MA (~$636). 2. Financial Sector ($XLF) Wedge Breakdown: Triggered a breakdown below the bearish rising wedge pattern on the XLF 60-minute & daily charts on Monday & closed the week solidly below it, keeping the financials on a sell signal. First price target & support comes in around $54.92 support, alongside key supports on Bank of America (BAC) which closed the week right on the uptrend of its comparable bearish rising wedge (sell signal pending a break below it & then the next support around 56.87). JPMorgan Chase (JPM) also parked on the uptrend line that defines the bottom of a similar bearish rising wedge pattern with a sell signal to come on a solid break and/or daily close below it. First target/support, if a sell signal is triggered comes in at $320.25 with the 200-day MA’s just below it. This (sell signals on JPM & BAC) would likely trigger a broad-based selloff, especially if the remaining Mag 8/big tech stocks that report earnings next week move substantially lower. I will cover those market-leading stocks scheduled to report next week (AAPL, MSFT, AMZN, & META) on Monday, as collectively, they have the potential to be the catalyst to break the stock market out of the nearly 3-month sideways trading range & spark the next swing tradable trend in the major indices.

2. Semiconductor Sector (SOXX / XSD) Weekly Sell-Off: With high-level weekly bearish PPO crossovers confirmed on SOXX and XSD, short-term rallies should be treated as objective short entries or add-on levels rather than long entries to chase.

3. Bitcoin ($BTC) & MicroStrategy (MSTR) Support: Monitor $BTC near recent lows and MSTR resistance backtests around $102.19. A breakdown to new lows risks triggering margin-driven liquidation on leveraged holdings.

4. Gold & Miners Wedge Breakouts (/GC / GLD / GDX): 60-minute falling wedge breakout in GDX and GLD was confirmed, increasing the odds for a sustained counter-trend rally toward higher targets on Gold Futures (/GC), gold ETF (GLD), gold miners ETF (GDX), and silver (SLV, /SI, etc.)

5. 30-Year Treasury Yield ($TYX) 5.16% Breakout: Watch whether $TYX makes a solid & sustained breakout above 5.16% multi-year triple-top resistance, which would significantly tighten global credit conditions and weigh on growth equities.

Comma-Delineated Ticker List

$SPX, $NDX, $RUT, $VIX, $DXY, $TNX, $TYX, $BTC, /NQ, /ES, /BTC, /GC, QQQ, SPY, IWM, SOXX, XSD, XLF, GLD, GDX, TLT, IEF, LQD, IBIT, MSTZ, TSLA, GOOGL, IBM, INTC, FIX, MSTR, LMT, PPC, JJSF, SJM, KHC, URRI, NEM, BMR, COIN, RIOT, MARA, HIVE, AAL, BX, STM, NOW, URI, NOK, MCD, APLD