ClearValue Team Insights
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SPY Facing Resistance at the Red Trendline
SPY has been neutral and trading within a range between $532 and $536 since June 5. There is a red resistance line suppressing the price, and SPY needs to break above $535.71 to rally. We are observing very low buy volume over the past week. I think traders and investors are waiting for more data […]Read More
QQQ Continues to Show Strength
Today is an important day for two of the Mag 7 stocks. NVDA’s 10-1 stock split has been completed, and AAPL is hosting a WWDC event. The last time NVDA had a stock split the stock price rallied for a few months before a significant correction. If the Fed continues to delay rate cuts until […]Read More
SPY’s Key Fibonacci Levels
SPY has flipped the 1 fib level from resistance into support around $523.55. The next key price target is the 1,618 fib level around $592.35. There is an FOMC meeting this week, and I think the S&P will continue to rally as long as the Fed continues to pause. After the fed pivot there is […]Read More