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Volatility for SQQQ and NVDA
Divergence between Sahm’s rule and insured unemployment rate, which means the Sahm’s rule could be giving a false signal here. Should be interesting to monitor over the next few days and weeks. The market is having a positive reaction to this news. The unemployment rate improved slightly, as it decreased from 4.3% in the previous […]Read More
Steady Income In Volatile Times
The capital markets have demonstrated remarkable resilience over the past 20 months, particularly following the significant declines experienced in 2022. Since January 2023, the S&P 500 and Nasdaq Composite have posted impressive returns of 48% and 66%, respectively, showcasing strong growth after a challenging period. However, while these gains are enticing, seasoned investors understand that […]Read More
Neutral Day for NVDA and SQQQ
The market closed neutral today with some slightly bullish price action for NVDA and slightly bearish price action for SQQQ. All eyes will be on the labor data released tomorrow, and the news will affect my outlook for the next few weeks and months. Follow me on social media: https://linktr.ee/realchartchamp
Read MoreCLF Lost Numerous Support Levels
CLF has been breaking down over the past few weeks, and is currently also losing support at a key white support zone between $11.77 and $12.23. I would monitor for a short-term rebound here or else CLF could continue to trend down lower. The price needs to climb back above $11.77. Follow me on social […]Read More
IWM Holds Above $210.44
There has been a strong selloff for Nvidia, the NASDAQ and S&P. However, IWM and small caps have held very strong throughout this stock market selloff. IWM is still trading above the $210.44 price level, and is attempting to flip $210.44 from resistance into support here. It’s taking a long time for IWM to rally […]Read More
QQQ Rebounds in a Key Support Zone
QQQ has also started to rebound within a green support zone. There is short term resistance around $464.83, if QQQ breaks above this price level there could be some more upside to the yellow trendline around $472.88. For now I would monitor for a break or rejection at this yellow trendline. Follow me on social […]Read More
All Eyes on $555.25 as SPY Rebounds
The S&P has also started to rebound as NVDA trends back up. SPY lost support at $555.25, and I would monitor to see if this $555.25 support level acts as resistance on the way up. SPY needs to climb back above $555.25 to remain bullish. If SPY climbs above $555 we can see a continued […]Read More
SQQQ Facing Resistance Around $9
SQQQ closed red yesterday, and is also trending for a red day today. I think the price is trading near resistance around $9.09. All eyes should be on NVDA to see if the rebound is successful. If NVDA climbs back up, SQQQ is likely to experience some downside. The markets have been very volatile lately […]Read More
NVDA Starting to Rebound
NVDA attempted to form a bullish rebound yesterday, but the price ended up wicking back down with little gains throughout the day. However, NVDA continues to form a bullish rebound today, and is showing some strength again. There is a very strong correlation between NVDA with the NASDAQ and S&P. I think NVDA’s rebound is […]Read More
HOLO Succesfully Retests Support Line
HOLO has successfully retested the yellow support line, and is holding above $2.51 for now. I would keep an eye out for some news, I think the next few trading days will be important for potentially starting that rally. Last time HOLO retested the support line before starting to rally so we might see a […]Read More
QQQ Spikes Up on Election Day
QQQ is having a very bullish day as the markets start to price in a Trump victory. QQQ is trading within the white zone, and I have the yellow trendline as a key resistance level to monitor around $493. I would monitor for a break or rejection at $493, if there’s a rejection QQQ could […]Read More
VIX Rejected at $22 Resistance
VIX has been trading near a white resistance line around $22. I think traders were hopeful for some volatility surrounding the election, and wanted to bet on the VIX spiking up as we approach the election. It’s still possible for there to be some election surprises and for the VIX to spike. However, for now […]Read More