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DIA closed at 314.37. DIA's structure during the drop last week is the worst of any large index. DIA is likely to slow down this week as well. If DIA can bounce near this range 314-306, we can see DIA also form a double bottom. However, DIA is likely to have the slowest and poorest price action this week. I would avoid any swings or daytrades on DIA for now. Price...
QQQ closed at 288.84. QQQ's structural failure lead the way to the breakdown on Thursday/Friday of last week. Lyra signaled significant outflow, despite consolidation, leading QQQ to drop 20+ points over 2 days. QQQ closed closer to the previous local bottom at 281. It's possible that QQQ can form a double bottom in this range if it holds. QQQ has a little more...
SPX closed the week at 3900.85. We saw SPX finally break down out of it's very tight consolidation between 4200-4080 last week. SPX fell quickly from this level dropping ~200 points. SPX followed QQQ's fall this week. SPX closed the week near some resistance in this range, but could test as low as 3810 if it continues to break down. It's possible for a double...
TSLA closed the week at 696.69. Last week's analysis still holds true, but the set up for a dip-buy looks even better this week. TSLA test 687 last week on Friday, and managed to bounce decently, closing the day as a doji. I still like TSLA swings here, as long as TSLA can hold 687. Keep an eye on the overall market to see if SPX/NDQ can set up a double bottom...
TSLA closed at 703.55. If TSLA can follow the pitchfork splits, it's likely that we can see TSLA start to move upwards again for a little while. I like swings here, but day trades above 707 can work as well. Keep an eye on the golden zones (marked in gold) on the chart. The most pivotal levels in this range are 720, 687, 800, 827.
CAT closed at 222.9. I expect CAT to be able to continue it's way up to touch near 230. This is a daytrade idea, and entries are at 226 and 224.4. Above, we can see CAT touch 232-238 next. Keep an eye on DIA, if it breaks out, we can likely see CAT follow suit this week as well.
DIA closed at 329.35. DIA looks the healthiest of the indicies, but it's still riding up the pitchfork trendline resistance. It's likely that DIA breaking out could signal a move up before other indicies. DIA analysis from last week still holds going into this next week. DIA has some more room to ~340, but likely can be a bit slower even if it does breakout.
QQQ closed at 306.2. QQQ consolidated last week as well. QQQ still has failed to clear 310-312, and needs above to set up to test 330 on the longer term. If we do see QQQ above 312, there's not much resistance in the way, and both swings and daytrades can work. QQQ looks to be slightly weaker here structurally, which could be worrying for long positions.
SPX closed the week at 4108.55. SPX is consolidating near the golden zone fib area (marked as .382-.35), and failed to break out of this range overall on the weekly. SPX made one attempt on Thursday, but closed the week mostly neutral. Last weeks analysis is still true, and it's likely that SPX can move to touch 4300 before any larger resistance is in the way....
DIA closed the week at 332.07. DIA continues to show similar, yet more intense price action than other indicies. DIA consolidated for less time, and started making move on Monday last week. DIA saw 5 consecutive green candles, but overall moved around the same as SPX. DIA has some more room to ~340, but is more likely to slow down this week.
QQQ closed at 309.10. We saw QQQ move violently this week, after two weeks of consolidation. QQQ moved off of it's sub-300 lows, and ended the week near resistance at 310-312. If QQQ can continue to make a move through this range here, it's likely we can see QQQ test near 330 again soon. QQQ does have slightly more volume to move through near here, so it's...
SPX closed at 4158.23. SPX started to bounce nicely this week, moving off of it's lows near 3932. SPX managed to clear through 4100 and end the week above resistance, with a strong marubozu on multiple days. SPX likely has more range now, and some follow-through on Monday would be ideal. SPX can move to touch 4300 before any larger resistance is in the way....
DIA closed at 312.42. DIA's price action is slightly less bullish than the other indicies, implying weaker relative strength. It's possible that DIA can perform worse this week relative to other indicies. I would avoid trading DIA in this range, as it doesn't have much support if it breaks down more until 300.
QQQ closed at 288.68. QQQ moved similarly to SPX this week. QQQ's overall technology sector exposure is higher relative to SPX, so it's important to keep eyes on XLK price action this week. QQQ has nearby levels at 300 up, and 279 down; these should serve as "harder" levels for this week.
SPX closed at 3901.35. We saw SPX test a new local low this Friday, but ended the day closer to a hammer candle. If we can see some follow-through momentum this week, it's possible that a bounce may be in play here. The market did move through and test Shiro's predicted downside target, so there's a decent change a long here can work. If SPX cannot find a bottom...