top of page

Where is Market heading next week?

In this post, we discuss where the market is heading next week with a specific focus on indices ($SPY, $QQQ, $IWM), magnificent 7 ($TSLA, $NVDA, $AAPL, $GOOGL, $META, $NFLX, $AMZN) and crypto ($BTC, $ETH, $ADA, $MATIC) etc. Also, we talk about special emphasis on how to play $SMCI day trade next week if it breaks down the trend line.

A lot of folks have a question about if the market has topped out. On a weekly basis, we might see a pullback but I still feel indices have a little more room to go. $SPY can go to 520 - 529 area, $QQQ can get to 445 area. $IWM has not yet caught up with $SPY and $QQQ but I believe ti will soon and move to 232 area.

$AAPL has been a laggard on the magnificent seven. It needs to break out above 200.$GOOGL went below the breakout line last week. Needs to cross 143-144 area to get back. $META needs to cross 485 area to go higher and $NFLX needs to cross 590 for a. move to 650. $TSLA made a big move to 200 this week and can continue to 220 breakout line in the coming weeks. $NVDA is reporting earnings today and have a feeling that it will come down before going up . There is support at 580 area for $NVDA. $AMZN had a terrific run for earnings and may have a minor pull back before heading to 180 area.

$SMCI needs a special mention here as it hit 1000 psychological figure so fast ( precisely 1077) and started falling down. Whenever a stock makes such a fast move, it tends to retrace back to 25%-12.5%. which is around 400. $SMCI broke through 841 -820 trend line last week. If we have a second week continuation, we might see another 135 dollar drop to 680 area.

$ARM is another Semi stock that rose so fast for earnings. we might see stock breaking below 100 before rising back.

$BTC is well set to reach 55k and $ETH can get to 3500 in the next few weeks

We had covered detailed analysis in the video below. check it out.

26 views0 comments


bottom of page