ClearValue Team Insights
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Bullish Gap Higher for SPY and NASDAQ
Yesterday there was a strong selloff with short sellers starting to short the market, and traders taking profit ahead of Powell’s speech. The stock market has rebounded back today with a bullish gap higher. I think SPY is likely to form a double top with a peak around $565. I am comfortable opening shorts once […]Read More
SQQQ Showing Some Bullish Momentum Near Resistance
SQQQ has started to build some bullish momentum today, and is trading near the upper range of this white channel. There is resistance around $8.12 to monitor for a break or rejection here. Seasonality suggests that we are likely to form a rejection and drop back down for a buy opportunity next week. SPY looks […]Read More
Little Upside for IWM Despite Bullish Breakout
IWM continues to struggle with making progress to the upside. The price action has been neutral and slightly bullish despite forming a breakout above $210.44. The first breakout was much more bullish with a stronger rally higher. IWM is looking a bit weak here, but we’ll see if the momentum starts to pick up over […]Read More