$SPX: As posted last night in my daily note (subscribe, link in bio): 7,412 was a resistance zone to consider; the $MU euphoria could find rejection there.
The top of the day was $7,419🎯 and the structure is still weak.
Levels for tomorrow will be emailed today at 6PM.
$SPX: Friday's price action was indecisive, the series of lower highs is marking the fifth consecutive day. The bearish Stochastic crossover is gaining traction, and losing the 20 DMA signals underlying weakness.
The setup suggests caution for bulls. $VIX
$SMH: Semiconductors is the most crowded trade, and individual names as $AMD and $MU are showing signs of consolidation with significant intra-week swings.
Capital rotates, it's not surprising to see the Mag7 struggling.
Risk management is vital with semis at this point.
POLL: ICE has been abused by the Fake News Media at levels never seen before. They are Great Patriots who work hard, and do a fantastic job in a very hostile environment. Much of this hostility is caused by the Dumocrats and the Fake News. The concept I have had for quite some time — A strong feeling that the name of these Patriots, “ICE,” should be changed to, “NICE,” in that it will totally discombobulate Crooked, Dishonest, and Unpatriotic Reporters and Journalists. For them to say, “We went to a NICE Facility today,” as opposed to “ICE” or, “NICE Agents have deported a Violent Drug Dealer,” they won’t be able to handle it, they will go totally crazy! All it means is adding an “N” (“National”) to “ICE (“Immigration and Customs Enforcement”) — A much more prestigious name. Everyone loves it, but I have been told by the legendary Tom Homan that the Agents do not love it as much as the other population. Who thinks that we should add an “N” to change the name of “ICE” to “NICE?”
Thank you for your attention to this matter! President DJT
$AAPL had one of those sessions that looks fine on the surface, no drama. But indecisive price action with high volume closed with small cushion above its key weekly support. The 20DMA curling down is not constructive and sets a hurdle for any bull thesis. $QQQ
$SPX is at all-time highs while the Fear and Greed Index shows fear. Should you use this index to time the market? No. Is the divergence worth considering as a risk warning? Absolutely, recent ATH at fear levels preceded pullbacks, caution is key. 150 likes for key Monday levels.
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$NVDA: The bounce from the lower Bollinger band has reached the 20DMA, a crucial line that validates or invalidates the move for bulls and bears as highlighted.
During the 4 days of the trading week the average acted as resistance. Constructive on Monday above 209.5 only.
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I love $META stock but let’s be real, Threads is lightyears behind X.
Had Musk posted something like this about X it would have got way more engagement in two to three hrs already.
Also @elonmusk has 240M+ followers to Zuck’s only 5.5M followers. Big discrepancy.
$SPX: Geopolitical headlines fueled the rally, no need to fight the trend. We're in bullish mode since Thursday, staying cautious. Price is far from overbought, so continuation is likely.
➡️Watch the 7,456 gap; it will likely fill as we've seen gaps fill at this stage of the run.