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I'm beginning to get more bearish for the short term but for now ES continues to hold support around 6,113, which was a previous ATH from the post election rally. It's bullish until it breaks. My best guess is that it will break and will potentially provide a good short opportunity for a move down to demand and a previous swing low near 5,950. Next downside target...

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Looks like the market is preparing for some volatility heading into FOMC, which is not something not we've been seeing as of late. We could be due for a sharp correction if this continues, but of course it could also just be some hedging and might not amount to anything. Pretty good looking chart, nice bounce off the low at 15.80, but for now it is still in the...

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I posted a similar idea last week for SNOW, but after seeing it this week I think it deserves a spot on the top 5 list. Just had a nice bounce after retesting the $166.50 area. Still riding momentum off the massive earnings move. On top of that it has reclaimed a trendline from the recent high. First upside target is $176 and then up to the recent high around...

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This is looking like an epic setup for NVDA, make or break here. Recently we had a shorter term inverse H&S that failed, but the longer term H&S remains valid for now. We have several things going on here, all of which looks pretty clean. To summarize: - Major support at $131.50 that was previous resistance from August. - Head and Shoulders with the neckline...

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Meme stock mania started with GME in 2021 and it has marked the top in the Nasdaq nearly every single time. I talked about the BBBY squeeze in 2022 and GME throughout the years. I've seen this happen over and over, it doesn't have to repeat, but this yet another strong confirmation of a top.

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We saw some downside in tech and elsewhere today, pretty big hit for ADBE. Usually in this market when NQ pulls back it does not last long and we end up with a series of stair steps and bull flags moving up. Took a breather today but are still riding strong momentum. AVGO getting a big pop after hours after earnings which led to NQ gapping up above its flag,...

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VX is starting to look a little more lively after today. It has held the major low around 15.80 several times and has an inverse H&S. That combined with the descending channel breakout could spark a quick rally up to 16.80. Getting a little more cautious with longs now but bullish structure on pretty much everything else important remains. Short version - range...

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Big recovery for SNOW after making new all time lows earlier in the year. Now it's been chopping around up above the $170 area. Looks really good for a long right here if it can hold, good risk reward as well.

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LULU has been on a huge run since August to recover the majority of the losses from earlier in the year. Now it's all the way back up to the major trendline it broke below earlier this year that started in 2020. Coming in for the first retest, would expect a rejection of some sort here. Downside target would be around $356, upside is around $450.

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I posted a longer term bull flag for SOXX on the top 5 list this week, but here's another shorter term one on the 15m within the larger one. Nice recovery today back up into the wedge, Good potential to breakout and head to the top end of the larger bull flag which could lead to even more upside if that breaks. Bullish chart after some weakness earlier in the...

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SQ made the top 5 list two weeks in a row. Don't usually like to the post the same tickers back to back, but it worked last week and I like the looks of it again. Got a nice breakout and now it's holding $94 and forming another bull flag/wedge. Looks great for another long with a stop below $94.

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This is a clean ascending broadening wedge/megaphone for the mag 7. Currently trying to bounce at the bottom end with potential support below near 2,225. Important to watch moving forward this week, I would be cautious if it does break below 2,225. Bulls get the green light if holds the wedge/2,225.

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I'm seeing a lot of bullish structure heading into CPI. Looks to me like bullish consolidation across the board, but important to note that if CPI turns us bearish that makes it even worse. For now, charts are pointing up in a big way. AMZN has been a market leader recently and has another bullish pattern here which could lead to another move up to make a new ATH...

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Here we go again, two downtrend breaks in a row and sharp recovery after some serious volatility and liquidations earlier this week. Looking for a move up to 2.65, might be good for a long if it breaks and holds on a retest.

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The inverse H&S on NVDA didn't really play out. Never reclaimed $140 for more than a few minutes. Overall semis have been relatively weak this week. Still waiting for the bulls to step in on this thing as they usually do on all drops. Might not be in the cards this time, but the market conditions support a recovery and if it can manage to breakout of this...

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CPI will be an important event tomorrow an hour before open. I believe the most important thing will be the reaction of the fed fund futures. Currently the target rate is sitting at 4.64 and the market is pricing in an 86% chance of that rate moving down to between 4.25-4.50. As long as this expectation remains, I think we'll have a bullish to flat end to the...

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SPY filled its gap right before close and looks good for a bounce here if you ask me. If it does bounce tomorrow I'll be looking for a break and retest of the bull flag for a move up to ATH. Downside targets would be $602.50 and $600. $600 would be an enticing long, but starts to look more bearish if it breaks below.

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Rough day for tech and semis so far. NVDA failed to reclaim $140 but still has a bullish chart overall. It was idea #1 this week with an inverse H&S that is still valid for now. If we see both NVDA and SOXX begin to rally it would be a good sign that SOXX is about to breakout of this bull flag while NVDA holds the neckline. SOXX is right in the middle of the...