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SMCI Breaks Down After Earnings & Stock Split Announcement
SMCI underperformed in yesterday’s earnings announcement, and announced a 10:1 stock split. The parabolic rally has broken and SMCI is also breaking down from a bull pennant structure. I have $358.71 as a key support level to monitor on the way down, but SMCI bulls could step in earlier. I’m interested in buying whenever SMCI […]Read More
IWM Starting to Face Resistance Between $205-$210
IWM opened with a bullish daily gap higher, but we are starting to see some selling within a key resistance zone. I do not want to see a rejection here so hopefully IWM continues to rally, and forms a bullish breakout above $210 to start a rally. Small caps are sensitive to price movements, and […]Read More
S&P, NASDAQ Continue to Rebound as BOJ Avoids Rate Hikes
Yesterday evening the Bank of Japan announced that they will not hike rates, which is helping to avoid a larger financial crisis in the short term. The stock market continues to recover, SPY and QQQ are having a strong rebound throughout the week. QQQ is approaching a resistance level around $454, SPY still has room […]Read More