ClearValue Team Insights
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S&P and NASDAQ Likely to Rebound Today
Yesterday there was optimism about a bullish rally after NVDA reported strong earnings on Wednesday. However, the entire stock market was red except for NVDA. SPY and QQQ were trading near key resistance levels, and both experienced strong selloffs. QQQ started the day above the red trendline, and closed the day back below resistance. After […]Read More
IWM Facing Resistance in the Red Zone
I’ve been patiently waiting for IWM to form a bullish breakout. IWM needs to break above the $210.44 resistance level, but continues to selloff in the red zone. There was a rejection that has pulled IWM back down to the lower end of the red zone at $205.31. I would monitor $205.31 for short-term support […]Read More
NASDAQ and S&P Trade Around Resistance
Nvidia’s bullish earnings announcement gives hope that the S&P and NASDAQ can continue to rally. QQQ is currently outperforming the S&P, and QQQ has broken through the red resistance line. In comparison, SPY is trading below resistance still and there may be a bullish breakout for SPY later. Both SPY and QQQ are red today, […]Read More