The following video provides technical analysis of the US stock market via SPY, QQQ & the market-leading FAAMG stocks (FB, AAPL, AMZN, MSFT & GOOGL), in that order. Silver or Gold level access initially required.
- The major stock indexes, tech sector & some market leading stocks are all trading on or just above key support levels, such as the uptrend lines off the December 24th lows
- Impulsive breakdowns and solid daily closes below those support levels would trigger major sell signals on the US stock market while a successful defense of those levels would keep the uptrend off the late-December lows intact for now
- Bullish falling wedge patterns with positive divergences are building on the 60-minute charts of SPY & QQQ as well as several of the market-leading FAAMG stocks which could be the catalyst for near-term rally, should both SPY & QQQ as well as some of all of the market-leading stocks clearly break out above those patterns soon.
- SPY & QQQ are currently approaching the top of those wedge patterns (downtrend lines on the 15-minute & 60-mintue charts) where the odds for at least one more thrust down within the wedges today are decent.
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