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Aiming for ResilienceRecent Performance: The Invesco QQQ Trust has displayed mixed performance, recently showing bullish trends yet struggling to maintain momentum compared to indices like the S&P 500 and the Dow Jones. The underperformance of key technology stocks such as Nvidia, Apple, Google, and Meta has dampened sentiment around QQQ, contributing to its inability to break key resistance levels. While the overall market is trending upwards, QQQ's struggle highlights the vulnerability of its tech-heavy composition. - Key Insights: Traders should remain vigilant as QQQ faces critical resistance at 514.98, which is essential for establishing a bullish outlook. The support levels of 501.28 and 496.29 will play crucial roles in gauging QQQ's resilience. Current market sentiment suggests that while broader indices may regain traction, QQQ's performance hinges on the recovery of its major tech constituents that are currently facing selling pressure. - Expert Analysis: Market experts advocate for a cautious yet optimistic approach to QQQ. There is a consensus on the necessity for robust performance from major tech stocks to ensure QQQ can recover and progress. While some analysts project potential upward movement supported by bullish trends in other segments of the market, they stress that any sustained gain in QQQ will depend heavily on overcoming resistance and the broader tech market environment. - Price Targets: Next week targets include T1 at 516.00 and T2 at 520.75. Stop levels should be set with S1 at 501.28 and S2 at 496.29 to align with a bullish strategy, as current market price of 505.79 fits the required criteria. - News Impact: Market participants are closely watching macroeconomic indicators and sector-specific developments leading into holiday trading. Notably, upcoming earnings reports from major tech firms could greatly influence QQQ’s trajectory, adding to the significance of monitoring performance as traders prepare for a potentially impactful period.
NASDAQ:QQQLong
by CrowdWisdomTrading
Take Advantage of SPY's Bullish Momentum Next WeekRecent Performance: The SPDR S&P 500 ETF (SPY) is currently showing strong bullish momentum, trading at 595.51 and maintaining its position above all major moving averages. Market reports indicate that buyers are actively engaging, particularly as indices like the S&P 500 and Russell 2000 experience upward movement. Overall, SPY's recent trading activity reflects resilience and an optimistic market outlook as it gears up for potential new highs. - Key Insights: Investors should focus on the bullish sentiment surrounding SPY, as experts predict solidifying performance near critical resistance levels. With inflation on the rise and projected rates around 4-5%, traders should consider how these factors affect their strategies. The potential for a soft economic landing amidst inflationary pressures presents both opportunities and challenges in navigating SPY's upcoming movements. - Expert Analysis: Market analysts express a predominantly bullish sentiment for SPY, anticipating a challenge at resistance levels which could catalyze further upward momentum. The continued discussions regarding interest rates and inflation will remain pivotal in shaping market conditions and investor sentiment. Despite a likely increase in market volatility towards the end of December, there is cautious optimism for SPY's ability to maintain its upward trajectory. - Price Targets: Based on current market dynamics: Next week targets: T1: 600 T2: 605 Stop levels: S1: 593.73 S2: 591.94 These targets align with the projected trading range and support levels, providing realistic expectations for the next week's performance while maintaining robust bullish strategies. - News Impact: Upcoming volatility is expected in the markets due to inflation concerns and key interest rate discussions. As we near December, trading activity may fluctuate, influenced by holiday sentiments. Market participants should closely monitor SPY's price movements around the 600 resistance level, as it could serve as a critical juncture for testing bullish strength, shaping trading strategies accordingly.
AMEX:SPYLong
by CrowdWisdomTrading
Potential Paths for QQQ This WeekWe may or may not get some good price action this week. The week of thanksgiving is pretty terrible for trading most of the time, but we have a lot of potential catalysts this week. I would still avoid Wednesday. If this futures move holds up overnight, it looks like QQQ may gap up above $507.84. if that's the case, I'd have bullish bias until it breaks below. I'd be looking for longs on any retests of the area. We may not get much of a pullback and head straight up for a test of the trendlines above which I think will likely provide at least one rejection. If we don't hold up overnight and open lower, downside targets would be $503.52 and then $492.80.
NASDAQ:QQQLong
by AdvancedPlays
SPY Ascending Triangle pattern AND Rising WedgeAMEX:SPY Printing a nice ascending triangle pattern along a rising wedge. Could go either way as marked out but considering last weeks action the time for the rally of santa is here as we head into the day of the great Turkey. Some fat wall street bankers have to cover and generate returns they keep pushing people out of positions just to buy them up. Very likely we set a new ATH on SPY this week. We just as easily could reverse as rising wedges tend to be bearish signals.
AMEX:SPYLong
by Paul_Hodls
$SPY November 25, 2024AMEX:SPY November 25, 2024 15 Minutes On Friday as expected 596 was done. A box is formed. tight sideways move. So, on Monday for the rise 584.64 to 596.15 holding 591 levels uptrend will continue in 15 minutes time frame. Noe for the 611.07 to 583.8 AMEX:SPY has retraced more than 61.%. So, for the moment any retracement I expect 584 to hold on downside. In 60 minutes, time frame for the move 567.89 to 600.17 to 583.86 61.8& extension is around 603 levels. That is the first target for me. Also, in 15 minutes taking 2 LL at 584.02 and 584.64 and high at 591.06 first target of extension value 596 is done. The second target here too is 603 levels
AMEX:SPYLong
by RiderTrader
4
SPY WEEK 11/18/24SPY WEEK 11/18/24 Trying to keep this as simple as possible. Once price breaks outside of the Blue range, watch for possible retest of broken level and be ready to long or short into the YELLOW ranges. Price may exceed YELLOW range targets, but it’s at least a strong help to make profit 🎯🫡. *LEVELS ARE NOT RANDOM OR BASED OFF EMOTION OR PERSONAL BIAS. BACKTESTED WITH THOROUGH RESEARCH WITH OVER 90% ACCURACY....HENCE WHY MOVE WILL MOST LIKELY BE GREATER THAN ESTIMATED.*
AMEX:SPYLong
by J3Trad3s
SOXL WEEK OF 11/18/24SOXL WEEK OF 11/18/24 To maintain simplicity, once the price moves beyond the WHITE range, monitor for a potential retest of the breached level. Be prepared to initiate long or short positions targeting the YELLOW ranges. While prices may surpass the YELLOW range targets, these levels provide a robust framework for securing profits. 🎯🫡 *These levels are derived from comprehensive backtesting and research, demonstrating over 90% accuracy. This statistical foundation suggests that price movements are likely to exceed initial estimates.*
AMEX:SOXL
by J3Trad3s
SOXS WEEK OF 11/18/24SOXS WEEK OF 11/18/24 To maintain simplicity, once the price moves beyond the WHITE range, monitor for a potential retest of the breached level. Be prepared to initiate long or short positions targeting the YELLOW ranges. While prices may surpass the YELLOW range targets, these levels provide a robust framework for securing profits. 🎯🫡 *These levels are derived from comprehensive backtesting and research, demonstrating over 90% accuracy. This statistical foundation suggests that price movements are likely to exceed initial estimates.*
AMEX:SOXS
by J3Trad3s
TQQQ WEEK OF 11/18/24TQQQ WEEK OF 11/18/24 To maintain simplicity, once the price moves beyond the WHITE range, monitor for a potential retest of the breached level. Be prepared to initiate long or short positions targeting the YELLOW ranges. While prices may surpass the YELLOW range targets, these levels provide a robust framework for securing profits. 🎯🫡 *These levels are derived from comprehensive backtesting and research, demonstrating over 90% accuracy. This statistical foundation suggests that price movements are likely to exceed initial estimates.*
NASDAQ:TQQQ
by J3Trad3s
SQQQ WEEK OF 11/18/24SQQQ WEEK OF 11/18/24 To maintain simplicity, once the price moves beyond the WHITE range, monitor for a potential retest of the breached level. Be prepared to initiate long or short positions targeting the YELLOW ranges. While prices may surpass the YELLOW range targets, these levels provide a robust framework for securing profits. 🎯🫡 *These levels are derived from comprehensive backtesting and research, demonstrating over 90% accuracy. This statistical foundation suggests that price movements are likely to exceed initial estimates.*
NASDAQ:SQQQ
by J3Trad3s
QQQ I Continued growth within the ascending channelWelcome back! Let me know your thoughts in the comments! ** QQQ Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
NASDAQ:QQQLong
by BKTradingAcademy
1
Market Update - 11/24/2024Small caps are taking the lead again, consumer discretionary, finance and energy names are the strongest. These are all healthy signs. Interestingly nuclear names ( NASDAQ:NNE , NYSE:SMR , MIL:NUCL ) are showing high relative strength. China names might also start working again next week after a nice consolidation for ~2 months. Over a third of my passive account is invested in energy/commodity ETFs which have been doing well, especially MIL:EXXY due to $GLD. There are also lots of good setups and my market timing model has been significantly improving in the last few days. I'm quite bullish, until the market proves me otherwise.
AMEX:GLD
by BenedekBokor
We confirmed above key support this week on the daily We have a level tracing back to a major pivot high of 28th March '22, and rising trendline from 14th July '23. Where these converge formed major resistance which we broke through and confirmed above - it has so far turned into a support level. This is bullish, and there is no obvious resistance before the all-time-high at $24. However the chart has been banging on the door of the support level frequently - if you hit a door hard enough, enough times, it's going to break. However, the volume has been weak. Lets see if we can get a strong upwards move with high volume, with a daily close above the recent high of $13.528. This would likely bring more buyers in and it would be off to the races.
LSE:DAPP
by TraderGader
OH NO! $SOXS is primed for a significant rise.The concept of a multiple bottom suggests that the stock has already experienced a significant decline, creating a buying opportunity at a lower price over time. Plus, Trump is coming= BYE semidocutor stocks! Stricter trade policies and tariffs on imported semiconductors could disrupt global supply chains, leading to higher costs and potential shortages. During his previous presidency, Trump focused on "America First" policies, which included promoting domestic manufacturing and reducing reliance on foreign supply chains Additionally, there were concerns about the potential mismanagement of federal initiatives like the CHIPS and Science Act, which aimed to boost domestic semiconductor manufacturing. AMEX:SOXL , NASDAQ:NVDA , NASDAQ:AMD , NASDAQ:AVGO , NASDAQ:QCOM : Sell now to take the profit. IT'S COMING
AMEX:SOXSLong
by sej4974