Summarized by Dodly:
Market Ranges & Tech Stocks: July 16th
Jdub Trades (Subscribed)
Summary
The market is consolidating within established ranges, with the Q's and SPY unable to break key resistance levels. Yesterday saw rejections off the top of these ranges, pushing prices back towards the bottom. Today, traders will be watching economic data like core retail sales and unemployment claims, as well as President Trump's speech. Earnings reports from UNH, TSM, and Netflix are also on the radar. The presentation offers a detailed breakdown of key technical levels for major indices like the QQQ, SPY, and ES, highlighting areas of support and resistance. It's particularly valuable for its clear charting and analysis of both broad market trends and individual tech stocks. For instance, semiconductors like SMH are showing weakness, falling below key EMAs and approaching their range lows, with a break below $580 signaling potential further decline. Conversely, software names and stocks like Apple, Google, and Microsoft are showing relative strength, with opportunities for upside trades above previous day highs. The summary provides actionable insights, making the full video worth watching for anyone looking to understand current market dynamics and potential trading setups.