SPY has reached the $560 resistance target, and is starting to experience a rejection here. For those who want to build a short position, I think SPY is trading near resistance here. The best entries would be when SPY above $560. The NASDAQ is trading below resistance, and I think QQQ could have some more upside as we approach Nvidia’s Aug. 28 earnings date.
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QQQ has essentially moved sideways since Sept. 6, and is likely to start trending up to the yellow trendline. The yellow line is sloped downward and decreases over time so the longer it takes the lower the price target will be. For now $466.30 is a realistic target for QQQ to reach over the next […]
Read MoreNVDA has been gradually rising over time, and is now trading near $109. I think NVDA will influence the direction of the stock market. For now there is volatility with wicks in both direction, and the price action is still neutral but slightly bullish. The narrative is that the stock market is having a negative […]
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The VIX is trending up today with 9%+ gains, but is still trading near a key $21.81 resistance line. I would monitor for a break or rejection at $21.81. I think the Presidential election brings a lot of uncertainty in the markets, which leads to volatility and a rise in the VIX. If the VIX […]
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QQQ has essentially moved sideways since Sept. 6, and is likely to start trending up to the yellow trendline. The yellow line is sloped downward and decreases over time so the longer it takes the lower the price target will be. For now $466.30 is a realistic target for QQQ to reach over the next […]
Read MoreNVDA has been gradually rising over time, and is now trading near $109. I think NVDA will influence the direction of the stock market. For now there is volatility with wicks in both direction, and the price action is still neutral but slightly bullish. The narrative is that the stock market is having a negative […]
Read MoreThe VIX is trending up today with 9%+ gains, but is still trading near a key $21.81 resistance line. I would monitor for a break or rejection at $21.81. I think the Presidential election brings a lot of uncertainty in the markets, which leads to volatility and a rise in the VIX. If the VIX […]
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