I don’t have a strong opinion or a good read on the chart of PYPL on just about any timeframe. Can’t make a strong case to buy it, nor would I short it. Better fish to fry elsewhere, IMO.

I don’t have a strong opinion on the near-term direction of WDAY. The stock recently put in a divergent low on the daily chart, rallied hard from there (with the rest of the software stocks in the recent bear market rally in that sector), but ran into the 158 resistance.

Either way, here’s my daily chart with levels. Should the broad market and/or software sector hold up for a bit, maybe another run up in WDAY to check its 200-day MA’s, as it recently hit an extreme, if not record, distance (percentage-wise) below them. Just make sure not to fall in love with this one if you take it: Stops commensurate with your price target(s). Daily chart below.

I also prefer the weekly chart when analyzing INTU as it speaks to the bigger picture, IMO. INTU has fallen to the 265 ‘minor-ish’ long-term support, where the odds for a bear market rally are decent, but that’s all the charts indicate, at least at this time (bear mkt rally), as this primary bull market trendline breakdown following the big divergent high appears to be the end of a secular bull market & start of a new bear market.

Initial bounce target, should it reverse off this support, would be that 479ish former support (now resistance) and the falling 40-week/200-day MA’s.

Since 2022 it’s been one step down, five steps up.

That has been my whole point, the whole point of a bull market. It’s a one step down two steps up market and if I have time to do one thing I’d rather be long the two steps up. Sometimes people make it more complicated than it needs to be. No one has a crystal ball for when it doesn’t work, but by the time it doesn’t you will certainly outperform the bear that has already tapped out, or only short with a small portion of their portfolio so their profit is not as much.

ADBE shows best on the weekly chart, IMO. ADBE at dual long-term support (secular bull market uptrend line off 2009 lows + 203 price support) & positive divergences, thereby offering an objective long entry with stops somewhat below (on a weekly close). Initial target downtrend line & intersecting 40-wk/200-day MA’s. Weekly chart below.

Gaps in the regular session almost always close, too.
It’s one of the things technicians look at.

I’m not talking about SPY/QQQ cash market. I’m talking about the 23 hours per day futures ES/NQ. There are tons of gaps in cash markets going back many years.

The gap has NEVER been filled from April 8 QQQ 588 – 602… and it won’t be.
That was 25% ago.
Wait til oil goes back down to $60 and Warsh starts lowering interest rates for Trump.
New all time highs this week and many more to come.

I wouldn’t short ANYTHING !!!
Shorting the market has been a losers game for the last 3 3/4 years.
Buy the dippers rule.
Stick with Trump Calls for the next 2 1/2 years.

It seems like buying the dip is a lot easier strategy than always shorting new highs. I guess someday that won’t be the case, but it’s worked the last 15+ years.

Also – interested in your view on PYPL – I can only find support on the monthly chart, but seems to be strong fundamentally, so also wonder whether you see it as a for long-term long candidate.

I went long via Crypto. And although I’ve done well, I don’t want to fall in love with the long trade here. In fact I think this massive gap up in the futures is a great shorting set up. Gaps in futures (not the cash session) almost always close. The thing is though, last time we gapped up like this May24, we went up another 100 ES handles before the turn. Watching this very closely for a short trade.

Yep, QQQ peaked just shy of the 61.8% Fib retracement today & SPY fell a little more shy of its 61.8. As such, nothing more than a potential counter-trend rally as of today’s close, but if they move much higher next week, that starts to call the “counter-trend rally with another leg down soon to come” theme into question.

Staples are still showing some relative outperformance lately with Bitcoin, gold, silver, & the miners all reversing off the recent price targets/support levels with bullish divergences. Have a great weekend!