$SPY MARKET UPDATE VIDEO 16H JULY $QQQ $IWM
Summary
TLDRIn this video, the speaker discusses the S&P 500's 30-minute chart, highlighting a potential double top pattern and ascending bullish trend, suggesting an imminent market event. They also compare the S&P 500 with the QQQ, noting the latter's bearish conditions and downward trend. Sector rotation is observed, with money moving into industrials and materials while exiting technology. The Russell 2000's bullish movement is contrasted with the underperformance of cyclical stocks. The video ends with a prediction of a significant market move, either upward or downward, and an encouragement to watch for the market's direction.
Takeaways
- 📅 The video was made on the 16th of July, a Tuesday night.
- 📊 The speaker discusses the S&P 500 30-minute chart, noting a double top pattern and ascending bullish trend.
- 🔺 The market is testing resistance and is in a compressed state, suggesting a significant event or movement is imminent.
- ⏳ The speaker anticipates that something could happen on Wednesday, either a breakout upwards or downwards.
- 📉 The QQQ (a tracking fund for the NASDAQ-100 index) is showing signs of weakness with sloping resistance and is at risk of breaking downward.
- 📈 The speaker observes sector rotation with money moving into industrial and materials sectors and out of technology, as indicated by the XLK (Technology Select Sector SPDR Fund).
- 🔄 The Russell 2000, which includes smaller companies, is showing bullish signs, contrasting with the technology sector's performance.
- 🏢 The speaker highlights the disparity in market cap between large tech companies like Apple, Microsoft, and Google, and the Russell 2000 index.
- 📊 The Russell 2000 is underperforming despite the all-time highs of some individual tech stocks within it.
- 🤔 The speaker expresses uncertainty about the direction of the market but emphasizes the importance of watching for a breakout or a significant change.
- 📹 The video is intended to provide a heads-up to followers and will be posted for their consideration.
Q & A
What is the date mentioned in the video script?
-The date mentioned in the video script is 16th July.
What is the main focus of the video script related to the financial market?
-The main focus of the video script is the analysis of the S&P 500 and QQQ (Nasdaq 100) charts, discussing potential market movements and sector rotations.
What chart type is being discussed for the S&P 500 in the video?
-The video discusses a 30-minute chart of the S&P 500.
What technical pattern is mentioned for the S&P 500 in the script?
-A double top pattern is mentioned for the S&P 500, indicating potential resistance levels.
What is the potential market outcome for the S&P 500 according to the script?
-The script suggests that the market could either break upward or downward, indicating a significant event or a big money move.
What is the current condition of the QQQ (Nasdaq 100) according to the video?
-The QQQ is described as having bearish conditions with a sloping resistance, suggesting a potential downward trend.
What support level is mentioned for the QQQ in the script?
-The support level mentioned for the QQQ is 49427.
What sector is mentioned as having money moving into it according to the script?
-The script mentions that money is moving into the industrial and materials sectors.
What sector is mentioned as having money moving out of it in the script?
-The script indicates that money is moving out of the technology sector.
What is the relationship between the Russell 2000 and the technology sector mentioned in the script?
-The script suggests that while the technology sector represented by QQQ is showing weakness, the Russell 2000, which includes cyclical stocks, is showing bullish signs.
What is the significance of the market cap comparison between Apple and the Russell 2000 in the script?
-The script highlights that the market cap of Apple is larger than the entire market cap of the Russell 2000, indicating a significant concentration of market value in a few large companies.
Outlines
📈 Market Analysis: S&P 500 and QQQ Trends
The speaker discusses the current market situation, focusing on the S&P 500 and QQQ. They highlight a potential double top pattern in the S&P 500's 30-minute chart, suggesting a market compression that could lead to a significant event, either a breakout or a breakdown. The speaker also observes a bearish condition in QQQ, with a weakening trend despite an overall bullish market. They note the importance of watching the market's movements closely, as it could indicate significant financial opportunities.
Mindmap
Keywords
💡S&P 500
💡Double Top
💡Resistance
💡QQQ
💡Sector Rotation
💡Russell 2000
💡Cyclical Stocks
💡Market Cap
💡Breakout
💡Fake Out
💡All-Time High
Highlights
The S&P 500 is showing a double top pattern on the 30-minute chart.
The market is exhibiting ascending bullish volume, indicating potential upward movement.
The S&P 500 has been testing resistance and is in a compressed state, suggesting an imminent significant event.
The market has shown consistent attempts to break the resistance over the last three days.
The QQQ (NASDAQ 100 ETF) is showing signs of weakness with a sloping resistance pattern.
The QQQ has support at 49427, where it has bounced back multiple times.
Sector rotation is occurring with money moving into industrial and materials sectors and out of technology.
The Russell 2000 index, representing small-cap stocks, is showing bullish signs and has the potential to rise further.
There is a significant market cap discrepancy between large tech companies and the Russell 2000 index.
Apple's market cap is larger than the entire Russell 2000, highlighting the dominance of a few companies.
Microsoft and Google's market caps are also larger than that of the Russell 2000, indicating a need for index rotation.
The QQQ could experience a downward break or an upward breakout, with no certainty on the direction.
The speaker emphasizes the importance of watching for a market direction break to make informed decisions.
A quick video is being made to illustrate the current market conditions and potential outcomes.
The speaker encourages viewers to share the video for broader awareness of the market situation.
Transcripts
guys folks today is 16th July Tuesday
night uh I saw something I thought let
me you know make a little quick video
for S&P 500 so this is S&P 500 30
minutes uh chart folks and what Market
is doing is right here you can see right
here double top and we got ascending
nice uh bullish vegge right here right
so Market keep trying to poke through
the resistance right here and we are
very very compressed something going to
happen look last one two and three days
Market keep trying the top and we have
now tomorrow Wednesday something could
happen either break upward or could
break downward so there is a big event
going
to
play right could be breakout could be
fake out could be anything folks but it
could print big time money folks okay so
just want to give you heads up those who
follow me they they could see right here
I'm going to post this video all right
then also I look at the QQQ also folks
so what do I notice on QQQ QQQ has right
now continuously pushing it down as you
can see right here mag bearish
conditions are bullish but slowly slowly
QQQ has little weakness so you can
see QQQ C of weakness right here sloping
resistance building but QQ at 49427
that's a support every time we bounce we
test bounce we test bounce but this is
downward wge Market creating on QQ exact
opposite of S&P 500
trying to poke to the roof versus QQQ
trying to this pan and can could break
downward also could break upward also
folks okay it could be anything but
remember so how do we find out this what
I noticed is couple of things folks okay
I'm going to make a real quick
video so you can see this is your sector
rotation so five days sector where the
money is moving into money moving into
industrial right look at that industrial
materials and money moving out of
technology right here xlk technology
money moving out that is QQQ technology
money moving out then we take a look at
that iwm all the cyclical stocks the
Rell 2000 look at the Rell 2000 last few
days we as we mentioned right this is
last Thursday folks I mentioned about it
the Rell 2000 looking bullish we want to
go higher and higher now why this is
happening I notice folks Russell 2000 is
a look spy is keep creating all alltime
high every week
QQQ technology sector is keep creating
alltime High every week but what iwm is
doing is fix all the cyclical stock all
the cyclical companies are right now
under the Rell 2000 all these 2,000
companies are right now they are still
lower here they are uh you know
underperforming right here pretty much
so in that case so what the market care
cap of iwm iwm total 2,000 company
market cap is close to $2 trillion for
apple has a 3 trillion so apple is
bigger than
iwm Microsoft has is bigger than the ID
you know Russell 2000 entire Russell
2000 just imagine folks just one company
is bigger than 2,000 companies Google is
bigger than bigger than the uh Google is
I think 2 2.3 2.7 trillion dollar
company versus UMSL 2000 is 2 uh 2.2
trillion so just imagine for just the
one company is bigger than the Russell
2000 companies so that is the reason I
feel like Russell 2000 has we need to
you know their index rotation as we
mention made the video that is what is
exactly happening right here so it's
continuously going up on it so just plan
so there are a couple of thing Could
Happen folks if they want to take the
air out of the balloon on QQQ little
bit that can happen or they already
oversold and Friday coming in
Wednesday Thursday before the Friday
comes they could break upward also no
nobody knows folks which direction they
could go but let the direction break and
then we will find out okay that's why I
think something going to happen I like
when something going to happen right
here same thing trying to break through
all right so thought to make a little
quick video folks all right share if you
could thank you bye
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