In this video, I walk through why I’m cautiously optimistic after the NASDAQ’s strong bounce, while still recognizing that the broader market remains choppy and has work to do. I also break down the key SPX levels I’m watching, including resistance near 7550 and a potential move toward 7600, along with a few trade setups on my radar like Coke, Philip Morris, and ESTC.
The NASDAQ just broke below key support with the squeezes pointing lower, and NVDA reports after the close on Wednesday. I don’t think Nvidia saves this one: the post-earnings moves have been shrinking for a year. Tonight I’m covering the semiconductor breakdown, this week’s earnings setups, and the QQQ levels I’m watching for hedges.
The Treasury’s bond buying is QE by another name, and crypto and commodities got the message this week. We caught the move in MSTR, Ethereum fired a squeeze with a Moxie price trigger, and FCX is breaking out to all-time highs. But under the surface, breadth is stalling, and with seasonal weakness and midterms ahead, I am watching whether this rally can keep swimming upstream.
The overall market has been in extreme chop mode with no real direction. The volatility is low and it is hard to sell premium, so talking that in account, here are 3 ideas you can consider right now to add to your portfolio.
