As mentioned yesterday, the SPX moved too far too fast level-wise, making today’s muted session consistent with yesterday’s cautionary note. The VIX sealed its unfinished business at 14.5, and the percentage of SPX stocks trading above their 200-day moving average declined to 51%.
This week, I am closely tracking AAPL in my daily note because it may be showing signs of exhaustion (mentioned last Saturday). Today’s shooting star candle is a move to watch, not just for the stock itself, but for the broader market. The central daily levels combined with the weekly levels are posted below, alongside the levels for NVDA, META, AMZN, GOOG, and TSLA.
Other relevant moves worth watching include:
WMT: Gaining 2.5% during its expected gap-fill process.
AMD: Continuing to build momentum by flipping our bullish target of 612.9 from resistance into support.
META: Printing a bearish shooting star alongside AAPL, signaling potential exhaustion after yesterday’s rally (META’s daily levels are analyzed below as well).
AMZN: Struggling to conquer its 50 and 20 day moving averages.
DIA & MSFT: The Dow Jones ETF (DIA) is testing its Central Weekly Level, potentially triggering the bearish move anticipated in the Weekly Compass, with MSFT showing a similar setup.
Let’s dive deep into tomorrow’s daily plan, combined levels, and the watchlist tracker, where AMD leads the regular watchlist as the frontrunner, while XOM acts as the laggard with a well-anticipated bearish move mapped out in the Weekly Compass.
Today’s Agenda
Daily plan for SPX, ES=F.
Daily and Weekly Levels Combined for SPX, ES=F, NVDA, META, GOOG, AMZN, AAPL, TSLA
Watchlist Tracker
What You Get as a Paid Subscriber
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→Wednesday: Market Intelligence and fundamental analyses.
→Friday: Support and Resistance Levels for the week ahead.
→Saturday: The Weekly Compass, featuring an in-depth technical immersion.
In addition to our weekly publishing schedule, your membership includes three immediate advantages:
→ Instant Ebook Access: Download my two foundational technical analysis ebooks directly from the Market Intelligence Library. (click here)
→Daily SPX & ES=F Levels: Receive daily levels assessing short-term momentum and potential reversal signals.
→Customized Level Modeling: Every Sunday, submit your watchlist stocks in the paid subscriber chat. Their specific institutional levels are modeled for the week ahead and published directly to the site.
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Let’s begin.