Weekly Levels for SpaceX (SPCX) and Essential Market Intelligence
Weekly Compass, S/R Levels, and a Special Study on IPOs
Hello everyone,
The week that ended Friday the 12th was highly volatile, with the SPX bouncing after a -4% decline. One week earlier I posted a note pointing to the likely downside destination in the 7,311 zone, an area “where potential spikes could occur”. The Fibonacci approach worked well, fine-tuned by the Support and Resistance Levels model.
With that in place, paid subscribers navigated the week with both weekly and daily levels for the SPX. The central daily level (CDL) was reclaimed on Thursday the 11th, which gave the bullish move its initial validation.
Here are the key reads for this week:
Market Intelligence: On Wednesday I posted a special study on IPOs. SPCX began trading on Friday, and its first session, which also stands as its first weekly move, ended as follows. Unlock this premium content to see it. The price action printed on Friday (charted below) already resembles two of the IPOs we studied.
Support and Resistance Levels: Weekly levels for our regular watchlist, including SPX, NDX, IWM, SMH, QQQ, NVDA, AMZN, TSLA, AAPL, MSFT, GOOG, and other megacaps listed in the publication. The key central level to stay in bullish momentum for the SPX is here along with the bullish targets, same case for the Magnificent Seven which may bounce from oversold conditions, the key level to recover for each one and bullish targets are here.
Weekly Compass: The technical charts for the main setups, always including the indices, ETFs, the Magnificent Seven, other megacaps, and Bitcoin. I flagged Bitcoin’s bullish reversal last week, and it has bounced +6% since the previous Weekly Compass. This edition also includes the SPX CDL for Monday the 15th.
Upgrade to the paid plan to unlock all of these tools.
Customized Support and Resistance Levels: Paid subscribers can suggest a stock of their choice each weekend in the premium chat, and I then model the weekly levels for the week ahead. That way you can plan before the market opens, choose which stock and setup looks best, and measure risk versus reward using the price targets and the invalidation levels, which serve as references for setting stops according to your own risk tolerance.
Here are the securities modeled for next week. The levels for Space X (SPCX) are included, along with others such as DELL, SOXL, SOXS, ADBE, and many more: