The Bottom Line:
- Ray J discusses the bullish trend in the market, emphasizing new all-time highs and a significant pump.
- SPY holds a strong uptrend, staying above a crucial trend line and pushing towards new resistance levels.
- NVIDIA faces support at 1180 and resistance at 1200, remaining range-bound with potential risks.
- Bitcoin and Tesla show consolidation with attempts to break out of their current ranges.
- Other major tickers like Apple, Amazon, and Meta display varied levels of bullishness and support, with ongoing market manipulations in stocks like GameStop and AMC.
Market Overview: Bullish Trends and New All-Time Highs
Analysis of Market Trends and Technical Levels
For spy we pumped very very nicely to the next resistance level and we actually held support looking at the option chain as you guys can tell we actually have the majority of puts expiring and right now almost all of them are out of the money we have max pain at 530 with the 1.98 puts to call ratio and so far the market makers are going after the shorts and continuing to squeeze the markets now when we zoom out I want to show you guys this
Technical Analysis for Individual Stocks
for NVIDIA Nidia dipped all the way down to this 1180 area but I told you we need to lose 1180 to turn bearish I did say there was a risk of that uh there is still that risk of course but we haven't really broken support at 1180 quite yet we're actually testing resistance at 1192 that's our 50 EMA and then 1200 is the next level above that in my personal opinion we're holding 1180 so we'll have to see how things go moving forward but right now Nvidia is is just kind of range bound we have 1180 as support and 1200 as resistance we've been going back and forth and back and forth all day if you lose 1180 there is going to be a risk of Us coming down to fill this Gap but we're still holding it very well in my personal opinion
Outlook on Cryptocurrency and Popular Meme Stocks
for Bitcoin Bitcoin my personal opinion is also forming a very very nice looking varage Divergence right here but we still have this resistance where it's kind of shuffling at I said that Bitcoin May remain range bound we might test 7,900 and retest 72,000 kind of trade sideways between the range that's what happened thus far as we're still stuck for the time being so I'll just have to see how things progress from here looking at Tesla Tesla is still trading sideways but I'39;m seeing an attempt by Tesla try to break out so I am seeing a breakout attempt but we haven't officially broken 180 yet so we want to see it try to break and hold 180 to turn bullish close above 180 as of right now it's holding up we do have the shareholder meeting and a very very important vote for next week so that's going to be key for Teslas very good chance it could make a huge move next week as of right now it's holding up well so we amp;#39;39;ll see how things go uh for uh other tickers out I amp;#39;39;m not going to focus on Futures on the QQ we amp;#39;39;re also pushing towards all-time highs we dipped to our 50 EMA we amp;#39;39;re actually holding support very very well very very nicely so it amp;#39;39;s looking pretty good at least on that end you know I didn amp;#39;39;t actually draw a trend line I feel like I should have done that that amp;#39;39;s one thing I should have done a little differently on the Kik Q if I take a trend line like this let amp;#39;39;s actually pull out an extended trend line we can start from this low right here and we actually connect everything as you guys can see everything connects relatively well how we amp;#39;39;ve been holding above this trend line for quite some time I could even kind of adjust this a little bit but uh it doesn amp;#39;39;t matter too much uh we amp;#39;39;re still holding up very well in my personal opinion we amp;#39;39;re actually holding at these key levels but the bottom line is you guys can see QQ overall is holding these levels it amp;#39;39;s holding supports and it amp;#39;39;s been on a very very nice uptrend so far every time it hit the trend line it amp;#39;39;s getting bought back up just like spy and held above its 50 EMA so it amp;#39;39;s a very very good sign we resistance currently at this 465 Zone we have support all the way down here at 463 if we lose that there amp;#39;39;s four this there amp;#39;39;s the trend line and then 460 below that overall we look more bullish there amp;#39;39;s a good chance we could continue pushing for Apple Apple amp;#39;39;s looking more bullish watch 196 as resistance we have support at 195 overall we amp;#39;39;re holding up well there amp;#39;39;s potential in apple try to break out higher if we break 196 but overall it amp;#39;39;s looking pretty good in my personal opinion for other tickers out there we also have let me just double check check this Amazon Amazon amp;#39;39;s also um stuck within this area still kind of shuffling going back and forth and back and forth we have 186 is resistance 183.0 one is support it amp;#39;39;s going to like excuse me it amp;#39;39;s going to likely continue to shuffle at least for the time being meta is in the same boat uh we amp;#39;39;re just shuffling as well on meta we will see if this gets a rejection or not to be bearish I want to see it lose this 492 area and start dipping down to 485 to be bullish you want to see it break past 500 otherwise it amp;#39;39;s just range bound and how about the memes I know a lot of people are interested in GameStop and AMC you know the thing about AMC and GameStop is they amp;#39;39;re so manipulated with all these halts it amp;#39;39;s just absolutely insane we pumped and dumped all the way back down to this level so I amp;#39;39;m going to actually pull up the 4our time frame and show you guys this again on the 4 Hour we amp;#39;39;re approaching that let me double check this uh 34 area if we lose that this could be a bad sign for GameStop this thing it start dipping even lower and we amp;#39;39;re going to see like like a much bigger drop if we hold it uh we could try to rebound for now guys not looking too good with all these holds and such so like I said before there amp;#39;39;s a lot of manipulation with the stock there amp;#39;39;s a lot of things being exposed that happen in the markets so it is what it is just watch support AMC has been testing support at 5.14 if we lose that it amp;#39;39;s going to be tipping back down otherwise it amp;#39;39;s just going to you know try to you know rebound a bit but in my personal opinion it amp;#39;39;s looking kind of weak with GameStop kind of following the trend so it is what it is we just have to continue moving forward with that being said Thank thank you all so much for listenting I hope you guys have an absolutely incredible rest of the day as right now spy is still on a very very strong uptrend holding up we had that 536 resistance and now our support amp;#39;39;s at 535 so we amp;#39;39;re still holding up so we amp;#39;39;ll see how well this goes overall the market remains bullish though we amp;#39;39;re still seeing the buyer stepping in defending so we amp;#39;#39;ll see how that goes uh thank you for listening guys uh make sure you watch this trend line on spies to see how well we hold up but for now the Bulls are still winning so we amp;#39;#39;ll give this the time it needs and see if they could push us any higher later on all right uh with that being said uh let me let me bring up two more things before I finish this the vix also happens to have this Gap fill so if we do continue to fall in the vix and fill this Gap that could be because the market has more upside potential technical still remain bullish the dollar did rebound a bit as the market dipped but now I think the dollar has potential to reject we amp;#39;#39;ll see if we close below our 200 EMA which I think we still could do so I amp;#39;#39;ll just be waiting to see the reason why the market kind of tipped is because the dollar popped and also because of the data so we amp;#39;#39;ll give this this the time it needs and we amp;#39;#39;ll see how things go moving forward uh let amp;#39;#39;s see if this trend line holds as of right now as long as spy is above this white trend line we are bullish if we lose it we will turn back to bearish we amp;#39;#39;re not really there yet so we still favor Bulls as of right now all right um with that being said I amp;#39;#39;ll see you guys in a few hours again uh please take care guys just know that the market has a lot of manipulation on Fridays s
SPY’s Uptrend and Key Resistance Levels
Overview of SPY’s Recent Uptrend and Resistance Levels
We pumped nicely towards the next resistance level for SPY and successfully held support. Currently, the majority of puts are out of the money, with a max pain point at 530 and a puts to call ratio of 1.98. Market makers are targeting shorts and continuing to squeeze the markets. The overall trend remains bullish as long as we stay above the white trend line.
Analysis of Support and Resistance Levels for SPY
The next resistance for SPY is anticipated at 536, with potential further upward movement to 537.5. Support levels are currently at 535, with an imbalance at 534. The crucial trend line serves as key support, indicating a buy-the-dip market sentiment where dips are consistently bought up.
Market Dynamics: Bulls Maintaining Control in the SPY Market
Amidst the current market conditions, the Bulls are in control as SPY remains on a strong uptrend. Holding above the 536 resistance level and sustaining support at 535 reflect continued bullish sentiment. Market participants are actively defending support levels, suggesting a favorable environment for the Bulls to push further ahead.
NVIDIA’s Range-Bound Status and Potential Risks
Analysis of NVIDIA’s Range-Bound Status and Potential Risks
Nvidia recently saw a dip down to the 1180 area, prompting concerns about a potential shift to bearish sentiment. However, the support level at 1180 has not been decisively breached yet. Currently, Nvidia is testing resistance at 1192, which corresponds to the 50 EMA, and the next key level above is at 1200. The stock appears to be moving within a range, oscillating between the support at 1180 and the resistance at 1200. Although there is a risk of a downturn if 1180 is breached, Nvidia has been holding up well in this range-bound state.
Assessment of Support and Resistance Levels for NVIDIA
The support level for Nvidia stands at 1180, while the immediate resistance is at 1200. Throughout the trading day, Nvidia has been fluctuating between these two levels. If the support at 1180 is broken, there is a possibility of a downward move to fill the gap. However, as long as Nvidia continues to hold the 1180 support level, it remains in this range-bound state with 1200 acting as the upper boundary.
Risks and Outlook for NVIDIA in the Current Market Conditions
The current status of Nvidia reflects a scenario where it is confined within a specific price range, presenting potential risks if the support or resistance levels are decisively breached. Traders and investors should closely monitor how Nvidia behaves within this range and be prepared for possible outcomes if key levels are breached. Staying attentive to the movements within this range can help in making informed decisions regarding trading strategies related to Nvidia’s stock.
Consolidation and Breakout Attempts of Bitcoin and Tesla
Bitcoin and Tesla: Consolidation and Breakout Attempts
In the realm of Bitcoin, there is a noticeable consolidation phase with a potential breakout attempt approaching. While Bitcoin displays an appealing divergence pattern, it currently faces a resistance level that is causing some shuffling. The prediction was for Bitcoin to remain within a range, testing 7,900 and revisiting 72,000, leading to a sideways trading scenario. On the other hand, Tesla is seen trading sideways as well, but signs of a breakout attempt have emerged. The critical point lies at breaking and maintaining above 180 to transition into a bullish stance.
The Market Status of Tesla and the Upcoming Shareholder Meeting
For Tesla specifically, amidst its sideways movement, an intriguing effort to break out is evident, although breaching the 180 mark conclusively is crucial for a shift towards a bullish trajectory. The focus also falls on the imminent shareholder meeting and an essential vote scheduled for the following week, indicating a probable significant movement in the coming days. As Tesla currently manages to retain its position above 180, the anticipation for potential substantial moves remains high.
Future Prospects and Key Factors for Tesla’s Trading Action
While Tesla navigates through the phase of sideways trading, there seems to be mounting pressure for a breakout beyond the pivotal 180 level. The significance of holding above this level and the outcome of the shareholder meeting signify crucial elements that could heavily influence Tesla’s future trajectory. The indications point towards a period of observation to ascertain the breakout potential and how external factors might dictate Tesla’s movement in the near future.
Bullish Insights on Apple, Amazon, Meta, and Market Manipulations
Insights on Apple
Apple is showing bullish signs with a resistance level at 196 to watch and support at 195. The stock appears to be holding up well, hinting at a possible breakout above the resistance level. Continued strength in Apple’s performance is anticipated.
Amazon Analysis
Amazon is currently moving within a range, shuffling between resistance at 186 and support at 183.01. The stock is expected to continue this back-and-forth pattern for the time being, demonstrating a stable but undecided market sentiment. Watch for potential shifts in either direction.
Meta’s Market Behavior
Meta is experiencing similar range-bound movements, indicating uncertainty in its direction. A rejection around 492 could signify a bearish turn, while surpassing 500 could suggest a bullish shift. As Meta remains within this range, monitoring key levels becomes crucial for informed decision-making.
