Last Saturday, the Weekly Compass identified bullish conditions for the S&P 500, citing improving market breadth and a high probability of declining volatility. In the same way, the performance of the tech sector was highlighted as the primary focus. I provided critical levels for the NDX, QQQ, SMH, NVDA, AMD, and AVGO, alongside the other Magnificent Seven (TSLA, AAPL, MSFT, GOOG, META, AMZN). The publication is here:
The week began with strong bullish momentum as the SPX pushed toward all-time highs. High-probability setups like PLTR and AAPL are already nearing their targets, while crypto and precious metals (BTC, ETH, GLD, SLV) continue to follow the constructive paths outlined on June 27th, not before.
Why do I emphasize “timing”? Because at SmartReversals, the information is specific: technicals, price, and time. Generalized predictions aren’t enough; in June alone, investors who held through the bullish noise for metals saw painful drawdowns of -12% in Gold and -22% in Silver. We focus on objective data to navigate these moves including specific price levels that if lost, they alert for changes in momentum allowing subscribers making informed decisions to protect capital.
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With that said, let’s assess today’s action in big tech and the daily levels for the SPX for tomorrow. We also need to highlight a critical element currently developing in the volatility index (VIX) that warrants close attention.
Nasdaq 100
Six elements to consider for Tech - VIX Analysis - SPX Daily Levels:
Trend Structure: The series of lower highs remains intact, as highlighted by the blue diagonal trendline.
Short-Term Momentum: The 20DMA has curled downward, confirming a shift in short-term trend direction.
Overbought / Oversold Conditions: The oscillator confirms that price is not yet in oversold territory, suggesting potential room for further downside.