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QQQ Daily Open with a Bullish Gap
The NASDAQ has been outperforming the S&P, and QQQ opened with a bullish gap higher today. There is some bullish momentum as QQQ approaches the red resistance line for another attempted breakout. The price target to monitor for a breakout is around $459.87. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreSPY Building Support at $524.20
SPY has been building support at the green trendline around $524.20. This trendline has flipped from a resistance level into a support level, and SPY could start to rally to the upper range of the white channel around $540. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreThe Power of Dividend Stocks
Over the last century, the stock market has stood on a pedestal above all other asset classes, as while investing in Treasury bonds, housing, and commodities like gold, and oil can increase your nominal wealth, none of these other asset classes has come anywhere close to the average annual returns that stocks have delivered over […]Read More
NVAX Outperforming Other Small Caps
NVAX has shown a lot of bullish momentum, and the NVAX chart relative to the Russell 2000 index (IWM) reveals that NVAX is outperforming small caps. There is still a lot more room for upside over the next few months. I think the stock market is likely to experience a downtrend between August-October and I […]Read More
The Clock is Ticking for an IWM Breakout
Last week I discussed how IWM is approaching its two best performing weeks of the year. One week has already passed, and IWM still has some time to show strength this week. There needs to a bullish breakout above the red zone around $210.44. IWM had numerous rejections, but is still making more attempts. Once […]Read More
S&P and NASDAQ Showing Bullish Momentum
The markets turned red after Fed president Neel Kashkari says that Americans have such a ‘visceral’ hatred of inflation that they’d rather have a recession than rising prices. This is the second time Kashkari has made comments that have caused a drop across the markets. However, this week the key events are focused on employment, […]Read More
NVAX Rallies Above $16
NVAX has climbed above the $16 resistance level, and the next key resistance targets are $25.41 and $38.26. I would keep an eye on the $16 resistance level just to make sure the price stays above $16. This could still turn into a rejection and a drop below $16. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreGME Strong Selloff at Market Open
GME has rallied back during post-market and pre-market hours after RoaringKitty discloses a large GME position. RoaringKitty has a large call options trade that expire June 21 so he clearly thinks GME is likely to rally over the next few weeks in June. There will be a lot of trading halts, unexpected pumps, and price […]Read More
SPY and QQQ Show Bullish Momentum
Last week I kept emphasizing that the May monthly candle close will be extremely important for June. On Friday it was looking very pessimistic with prices dropping headed into the final hours of the May monthly candle close. However, there was a strong rebound within the last hour that led to a strong finish for […]Read More
NVDA Trading Near Resistance
NVDA has experienced some bullish momentum over the past few days, and is trading near numerous resistance levels here. I have the light blue trendline as a key resistance level to monitor, and bears want to keep the price below $125.50 to send NVDA lower. I think there is too much uncertainty for U.S. stocks […]Read More
Bearish Gap Lower for QQQ
QQQ starts off the week with a bearish gap lower. I think the price action has been pretty neutral and volatile since mid September. QQQ is still facing resistance from the white zone, and continues to trade below $488.55. During election years QQQ historically experiences a downtrend between Oct 6 and Oct 30. Bears would […]Read More
Bull Flag Forming for IWM
IWM has been quiet over the past few weeks, and is starting to form a bull flag structure with a $242.50 price target. IWM would need to hold above $214.20 to remain in this bullish structure, and would need a bullish breakout above $220.31 to start a rally. Follow me on social media: https://linktr.ee/realchartchamp
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