The market opened with bullish momentum as anticipated in Friday’s Support and Resistance Levels edition (published at 6:00 PM ET while extended-hours trading was still active):
“Both indices (SPX and NDX) breached their daily lower Bollinger Bands; a technical bounce is likely before broader volatility resumes.”
That bounce was also considered and documented in the Weekly Compass on Saturday, I emphasized that relief bounces in both the SPX and QQQ would likely stall at their respective Central Weekly Levels (CWL). Both moves faded as expected: QQQ topped with accuracy at 699.4 against my 700.0 projected target (less than a single point away), while the SPX was rejected squarely at a key monthly level.
These vanishing rallies highlight how fragile is the market structure, anyway we study a constant watchlist to monitor rotations and navigate both bullish and bearish setups.
It’s just Monday, and my bullish target for AMZN into 254 (+3.0%) played out today, as did my bearish target for MSFT down to 510 (-2.2%). In commodities, the tactical mean-reversion setups described during the weekend for GLD (+1.6%) and SLV (+2.2%) both materialized as modeled, now they must hold levels.
Not every ticker shares the same directional bias across technical indicators, and modeled support and resistance levels provide the objective edge needed to validate setups and establish realistic targets where institutional algorithms actively execute.
If you trade some of these tickers, this publication is for you, they are constantly analyzed from the fundamental and technical perspective:
Indices & Futures: SPX, NDX, DJI, IWM, ES=F, NQ=F
ETFs: SPY, QQQ, SMH, TLT, GLD, SLV, DIA, VXX
Major Stocks: AAPL, MSFT, GOOG, AMZN, NVDA, META, TSLA, SPCX, LLY, WMT, AVGO, COST, JPM, XOM, PLTR, NFLX, V, AMD
Crypto & Related: Bitcoin, Ethereum, ETHA, IBIT
Leveraged ETFs: TQQQ, SQQQ, UDOW, SDOW, UPRO, SPXS, URTY, SRTY
In case you missed them, review the full Support and Resistance Matrix published Friday, and the directional roadmap in Saturday’s Weekly Compass. Both are here:
Last but not least, with earnings season in full swing, I deliver institutional-grade fundamental deep dives on the reporting companies in the watchlist. These executive one-pagers break down each company's financial trajectory, economic moat, bullish and bearish catalysts, modeled price targets across 1, 3, and 12 month horizons, and essential metrics tailored for both active traders and long-term investors. Download AMZN, MSFT, META, GOOG, LLY, XOM, SPCX, JPM, V, and NFLX from this space that explains my investment framework.
Either the technical roadmaps or the fundamental deep dives alone justify the full subscription. Unlock this objective, institutional framework by upgrading to the paid plan:
Today’s Agenda
Watchlist Tracker: Focus on high probability setups (MSFT, SPX, QQQ, SPCX, LLY, GOOG, AMZN, SLV, GLD, and main market movers
Daily and Weekly Levels Combined for SPX, ES=F, AAPL, PLTR, AMD, and the high probability tickers mentioned.
Daily plan for SPX, ES=F.
Let’s begin.
Watchlist Tracker
WMT and COST maintain strong bullish momentum in the top 3. As long as mega-cap tech remains under heavy CapEx scrutiny, defensive leaders are poised to continue their outperformance. Both keep constructive bullish setups as outlined on Saturday, similar to V, anyway staying mindful of a potential healthy pullback is key. Their levels are below.
At the bottom of the watchlist sits AMD. While the weekly setup remains decidedly bearish, price is approaching oversold, overextended territory. The critical levels to monitor ahead of earnings are detailed below.
Meanwhile, AMZN must defend its Central Monthly Level (CML) to sustain its bullish structure. It has shown notable relative strength so far, holding firm despite post-earnings pressure in AAPL and PLTR (-3% each).
Below are the current distances and spreads to their respective central levels for all the tickers: