Bitcoin

TechieInvestor Weekly Market update for week 06/07/2021 - $SPY, $GOOG, $LMT, $NOC, $TMUS

First, lets talk about the markets





SPY had a break out on Friday at 422. Let us see if SPY is able to hold on to the 422 area. The support levels for SPY are 420.38, 418.48, 416, 415.71, 412.49, 405.38, 397.48, 392.64, 387.70 The resistance levels for SPY are 428, 433, 438, 442

Best entry would be above 422 area to run to 431


QQQ resistance levels are 336.54, 341.9, 347, 352. QQQ support levels are 332.55, 331, 328.57, 317.02. Ideal entry could be above 342 area to ride it to 352


$GOOG had a break out on Friday at 2429.89. Its resistance levels are 2478, 2503, 2514, 2559, 2618. Its support levels are 2430, 2411, 2363, 2302, 2240. Ideal entry would be at greater than 2430 area with possibility of reaching 2500 and 2600.


Financials are on the rise. One stock in particular to note is $GS. $GS broke out at 371 4 days ago and is heading to 400 plus. Keep a close watch on this one. Support for this stock is at 375, 371, 369, 350. Resistance for this stock is at 397, 404. Ideal entry could be around 384 to ride it to 404.


Defense stocks broke out on Friday and two stocks in particular to watch are $LMT and $NOC.


$LMT resistance levels are 400 and 405 and 407. $LMT support levels are 393, 387, 386, 383, 381. If on Monday, it stays above 393, can ride it to 405- 407 area


$NOC resistance levels are 384, 390, 395, 400. and its support levels are 374, 369, 368, 351. Ideal entry would be above 374 on Monday to ride to 389 area


TMUS broke out two days ago above 141 and is primed to go up. Its resistance levels are 145.50, 147.30 and 149.22 and its support levels are 140.25, 138.87, 134. Ideal entry would be to get in at 142 area to ride it to 148 area.


GM also had a breakout two days ago around 61.94. Its resistance levels are 65, 66, 67, 68. Its support levels are 62, 59, 57.35, 53.52. Ideal entry would be to enter above 62 area and ride to 68


FB is on the verge of breakout. If it crosses 332.75, there is a good possibility of it going to 347. .















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