ClearValue Team Insights
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NVDA Update – Neutral Price Action Into Day 3 of GTC 2024
Yesterday I discussed how $NVDA is trading near the white support line that is providing local support. There was a bullish rebound off this support level, and NVDA had some upside yesterday. However, the price action is still neutral and NVDA continues to trade sideways despite the GTC event. Today there is also an important […]Read More
March 20 S&P 500 Update – SPY Back Above Resistance
The S&P 500 had a bullish rebound yesterday, and a bullish daily candle close above the white resistance line. However, the price action is still neutral within the range discussed yesterday ($508 to $517). Today $SPY is retesting the white resistance line as support, and I would monitor the $517 highs here to see if […]Read More
March 20 NASDAQ Update – QQQ is Bearish Below Resistance
The NASDAQ also had a bullish rebound yesterday, but is still trading below the yellow trendline. The NASDAQ has been pretty bearish lately with 9 red daily candles out of the past 12 days. However, the price continues to trade below the yellow trendline so today’s FOMC announcement will be important to determine whether QQQ […]Read More
INTC is Trading Within a Tight Range
$INTC has been trading under resistance at the light blue trendline, but is starting to also find some support at the red trendline. I think INTC is trading within a tight range here and will need to find a direction over the next few weeks. For now there’s likely to be some sideways price action. […]Read More
March 21 S&P 500 Update – SPY’s Bullish Reaction to FOMC
The markets had a bullish rebound to yesterday’s FOMC meeting. $SPY had two back to back bullish daily candles, and more importantly has broken out of the range with a breakout above the $517 range. SPY is continuing to show strength today with a bullish gap higher. I think there will be a pullback soon, […]Read More
March 21 NASDAQ Update – QQQ Back Above the Yellow Trendline
The NASDAQ had a bullish rebound from yesterday’s FOMC announcement, and $QQQ is now trading above the yellow trendline again. Looks like we are continuing to trade around the trendline for longer, and my next few trades will be shorter term swings around the trendline. The price is above the yellow trendline, and this is […]Read More
NVDA Sellers at $920s on the Final Day of GTC 2024
Today is the fourth and final day for NVDA’s GTC 2024 event. There has been neutral price action throughout this 4-day event, and $NVDA is now trading above $900s again. The daily candle is red so far with sellers around $920s. There is an important yellow resistance line that gives a price target around $966, […]Read More
U Rebounding Near All Time Lows
$U is trading near all time lows in the light blue support zone between $25.28 and $27.31. I think U tends to have wicks down for a discounted buy opportunity, and I would look for an entry with those wicks around $22.28. It’s not a bad idea to have an order in place to see […]Read More
March 22 S&P 500 Update – SPY Likely to Have a Correction Soon
Yesterday the $SPY daily candle closed red despite a bullish gap higher. However, I think SPY is likely to have a correction soon. For now the price is holding above $522, I think there could be a correction sometime today or early next week. I will post another update to see what the weekly candle […]Read More
XOM Rejection at $122.42
XOM is trading near all time highs, but has experienced a false breakout at the yellow trendline around $122.42. There is a selloff taking place, and I have $108 as a key support level on the way down. I think XOM could form a bullish breakout on the next move up, but for now I […]Read More
SOFI Starting to Rally
SOFI has formed a bullish breakout above the $8.41 resistance level, and also broke out of the yellow channel. SOFI has already experienced a rally over the past few weeks, and there is a brief pullback forming for those who want to buy this correction. I would look for entries near $8.41 and I have […]Read More
