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March 19 S&P 500 Update – SPY Trading Within a Range Headed into FOMC
$SPY started off the week with a bullish gap higher, and this gap was at an important white resistance line. There has been a rejection at this white trendline to start off the week, but SPY is still trading below resistance here. The price action is neutral within a range, the two light blue trendlines […]Read More
March 19 NASDAQ Update – QQQ Near Local Lows Headed into FOMC
$QQQ is forming a bullish rebound off the local lows around $433 as we approach the FOMC meeting tomorrow. The NASDAQ has been trading around this yellow trendline since mid December, and tomorrow we’ll see if the FOMC meeting causes QQQ to finally start trending down. Otherwise we are likely to continue trading around the […]Read More
TSLA Rebounds from $164.76 Support Level
$TSLA initially dipped below the $164.76 support level, but had a bullish rebound at the support line. TSLA is red today, but could be forming a bullish retest of the $164.76 support line. I would keep an eye on the $164.76 support level on the way down to see if it holds or whether TSLA […]Read More