Now that's a wedge. Steep incline here on $NVDA. be nimble if it breaks. semis have been on a tear lately.
Being that QQQ has been the leader of this move, we will be watching for this to reverse first and lose major support. For now, watching 207 for a move to gap fil at 204/203
Possible to see lower end of channel here today around 268. will be watching 4 hour and longer time frames for guidance moving foward
Note that GOOGL is sitting around the 50% of the 2nd fib progression since ATH drop. Over 50% we see the 61.8% fib, which coincides with the daily 200 sma. Weird how shit works up huh?
$LQD - tagged the 50% fib on the monthly chart (ATL to ATH). Fib is projecting a move into $148.45 (keep in mind this a MONTHLY chart).
$USFD - daily fib looking for $21.60 (38.2%). Current resistance $19.60ish with a steep rising LTL in play. Break of LTL we want to see mid $17s hold.
$SPY broke the most current rising wedge but holding longer-term trends. Breakdown and hourly close below 277 results in low 260s retest
$SHOP - nice move out of the 378/390 resistance area. watching 437 upside and 401 downside
$AMD - gettin tight here. does she break out or break down? Watch daily 50sma as support
ah shit here we go again...but this time might be different. currently over the 50 and 100 sma on the hourly timeframe, something that was not in play the past 2 declining wedge breaks. also note the cross of the 100 and the 50.
SPY - 2-time wedge break. See if this time is different on the upswing. $263/$266$270 resistance. Would like to see a move into 2818 to ensure resistance. Below support 254/250/248/245/240/238. enjoy!