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 the VIX is getting rejected at $22, this is now the third rejection at the white trendline since Sept. 2024.
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QQQ has remained neutral since Nov. 7, trading sideways within a range below the yellow resistance zone. There’s still room for QQQ to trend up towards the resistance level around $518-519. This resistance increases over time so the price level will continue to change. I think QQQ is at risk of dropping, but likely the […]
Read MoreGME has flipped the yellow trendline from resistance into support, and after weeks of boring price action we are starting to see some upside. I have a resistance zone between $47.11 and $64.74 to monitor on the way up. As a reminder, GME tends to report very strong Q4 earnings. I think there could be […]
Read MoreRivian (RIVN) stock has rallied after announcing an expansion of its partnership with Volkswagen (VWAGY), with the German automaker pouring more money into a joint venture. RIVN has held above the $10 support level, and this news announcement has caused a spike up to the white resistance zone between $11.64 and $12.70. I think this […]
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QQQ has remained neutral since Nov. 7, trading sideways within a range below the yellow resistance zone. There’s still room for QQQ to trend up towards the resistance level around $518-519. This resistance increases over time so the price level will continue to change. I think QQQ is at risk of dropping, but likely the […]
Read MoreGME has flipped the yellow trendline from resistance into support, and after weeks of boring price action we are starting to see some upside. I have a resistance zone between $47.11 and $64.74 to monitor on the way up. As a reminder, GME tends to report very strong Q4 earnings. I think there could be […]
Read MoreRivian (RIVN) stock has rallied after announcing an expansion of its partnership with Volkswagen (VWAGY), with the German automaker pouring more money into a joint venture. RIVN has held above the $10 support level, and this news announcement has caused a spike up to the white resistance zone between $11.64 and $12.70. I think this […]
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