QQQ weekly: current set up has the potential to be similar to the covid lows. Back then and now, QQQ fell for several weeks; then established a big green candle followed by a small red candle. Upto this point, the set up is identical. If QQQ can establish a green candle this week closing above the high of the previous week’s red candle, the set up now and...
AAPL vs. SPX (top chart) and MSFT vs. SPX (bottom chart) The weekly ratios of MSFT and AAPL relative to SPX are at important support levels. If they hold, they could lead the tech sector to outperform the broader market.
QQQ : has the potential to form an inverted head and shoulders pattern in the 30-min time frame. Support is around $296, a break below that opens the door for a retest of lows around $285. Initial resistance is around $306. A move through there opens the door to get inside the next channel in which case price targets of $320 and $330 would be in play.
DAX Index is approaching the top of the channel; several rejections at this level, so a break through this level would be significant. Additional resistance around 14,900-15,000.
Looks like QQQ wants to test the bottom of the channel
QQQ is currently consolidating near the upper end of the downward (yellow) channel. It tested the top line of the channel the past three sessions but got rejected. So, resistance is strong around $362. If QQQ closes below $352, it could very well revisit the previous lows.
SPY is currently in between a bullish (blue) and bearish (yellow) channels. It already tested the upper line of the yellow channel this week and held. If SPY closes inside the yellow channel, it could very well move down to the middle line of the yellow channel or around $430. Beyond that, downside risk to the lower channel line. If on the other hand, SPY manages...
BTC bigger picture - higher high, higher low. RSI around 3.82, oversold.
ETH bigger picture, higher high, higher low Weekly RSI around 38.2. ETH was able to rebound previously when weekly RSI fell to that level.
Just above support within the blue channel. Selling could pick up if it falls below this channel.
ETH struggling to overcome the middle line of the blue channel. Support is the bottom line of the blue channel.
IWM – stuck in a downward channel making lower highs and lows. Until this sequence is broken, path of least resistance is down.
QQQ closed Friday above the upper line of the blue channel – first positive sign in a while. Next area of important resistance is the upper line of the yellow shaded channel. Additionally, short term trend is up as it is making higher highs and lows as marked by the two purple lines. It could gradually move higher within this channel until it reaches the upper...
SPY has closed above first level of resistance as marked by the blue channel. It will encounter next levels of resistance marked by the yellow channel. The key is the upper line of the channel. Additionally, the short term trend is up as it is making a series of higher highs and higher lows as marked by the two purple lines. As long as it doesn’t break below the...
Bullish weekly set up - $CAT A weekly close this week above $218.57 would be the highest since June of last year. Additionally, momentum indicators have been ticking up.
Weekly bearish set up in progress for ETSY and SHOP Unless they can turn things around quickly this week, both will extend downtrend on a weekly basis. Momentum indicators are also trending lower.
Daily vs weekly Daily – has been trading between circa $46K-$51K. Has been forming a base around $46K. If this level is breached, next major support is around $40.5K-$41K. However, a daily close above $51K would be bullish Weekly – no so good. Momentum indicators are trending lower. A weekly close below $46,700 would be negative.