The market managed a green close today despite heavy negative sentiment. While the SPX (+0.44%) move might have been emotionally surprising to the crowd, it was technically valid. As analyzed in our Weekly Compass, the charts specifically signaled this bullish potential. The QQQ followed suit, gaining +0.6%.
Last week, our Daily Levels were instrumental in anticipating bullish reversals. These modeled “Bullish Above / Bearish Below” indicators act as your primary momentum compass, while our structured Support and Resistance (S/R) levels define the high-probability destinations for the move.
By analyzing the SPX, QQQ, SPY, DIA, IWM, VXX, SMH, the entire Magnificent Seven, and other megacaps like PLTR, NFLX, AVGO, AMD, and XOM, SmartReversals provides the institutional grade tools you need to navigate this volatility with precision.
Example QQQ (SPX is below with more securities):
For tomorrow, the QQQ must hold above $587.9 to maintain its bullish momentum. Today, the tech ETF met resistance at the 20-DMA on vanishing volume. A failure to hold this level suggests a move toward $585.3, and if momentum accelerates, a deeper visit to $582.0. In theory, we have all the day tomorrow before any geopolitical announcement or confirmation, which is expected to happen on Tuesday night NY Time.
The market remains laser-focused on the conflict in Iran. Managing risk is paramount: volume has been declining over the last few sessions, and the Volatility Index (VIX) closed in the green today, a signal for caution.
Conversely, if stock participation remains broad as we saw today, and we avoid a new geopolitical headline that spikes Oil prices, the QQQ has a bullish path toward $591.2, and $593.9 if momentum gains traction.
In volatile markets, “gut feelings” are a liability. Using levels provides the objective triggers needed to identify the warning signs of a deeper move before it happens. Our Weekly Levels have consistently framed the price action even during the recent weeks.
As noted yesterday, this week is critical for defining market direction. Below are the key levels for the following securities to give you a definitive edge in your market timing:
SPX & ETFs: SPX, SPY, QQQ, SMH, TLT, GLD, SLV, DIA, VXX
Major Stocks: AAPL, MSFT, GOOG, AMZN, NVDA, META, TSLA, LLY, WMT, AVGO, COST, JPM, XOM, PLTR, NFLX, V, AMD
Crypto & Related: ETHA, IBIT
Leveraged ETFs: TQQQ, SQQQ, UDOW, SDOW, UPRO, SPXS, URTY, SRTY
Sectors: XLC, XLF, XLE, XLK, XLY, XLI, XLB, XLRE, XLP, XLV, XLU
Let’s continue with SPX, SPY, and all the other securities mentioned, including the Weekly and Monthly levels combined: