The SPX delivered the bullish session outlined in Saturday’s Weekly Compass. Price was severely oversold and overdue for a technical bounce. After reclaiming the anticipated Central Daily Level (CDL) at 7,396, upside momentum accelerated.
Across the highest-probability setups analyzed on Saturday, AMD reclaimed 455.3 and surged directly into our bullish target at 508.4 (+13.2%); SPCX: Opened the week in the anticipated direction with a +5.8% advance; SMH: Recovered 480.8 as CWL, gaining over +5.0%, GOOG kicked off the week in positive territory nearing 294.9, as anticipated on Saturday.
Access the complete set of charts with price targets in the Weekly Compass, it includes more setups that are a must watch in case we have a new rotation.
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Today’s Agenda
Analyzing the Bounce: SPX and NDX
Daily plan for SPX, ES=F.
Daily and Weekly Levels Combined for SPX, ES=F, and Semiconductor Giants (NVDA, AMD, MU, AVGO)
Watchlist Tracker
Let’s begin.
Analyzing the Bounce: SPX and NDX Charts
It’s worth zooming in to this conditions that are not captured by the regular daily chart: