**SUPPORT FOUND!!** TMF Stock Bouncing! Stock Market Analysis | TSLA Stock | BTC | NVDA Stock
Summary
TLDRIn this video, the speaker shares technical analysis on various markets including SPY, QQQ, IWM, Nvidia, Tesla, Bitcoin, and TMF. They discuss rising wedge patterns, support and resistance levels, and potential market movements based on economic reports such as the JOLTS, ISM, and upcoming non-farm payrolls. The analysis also touches on Nvidia's market performance and Tesla's upcoming full self-driving event. The speaker offers early access to their analysis through Patreon and invites viewers to learn more about technical analysis via their Stocko Academy course, which features a simple and effective trading strategy.
Takeaways
- 📈 The SPY is currently in a rising wedge pattern, which could lead to a bullish breakout or a significant drop if it falls below the support line.
- 📉 QQQ shows signs of a rising wedge pattern, similar to SPY, indicating potential volatility and possible sell-off.
- 🖥️ Nvidia is trading sideways with consolidation patterns, potentially gearing up for a breakout, especially around its earnings report in November.
- 📊 IWM is currently in a support zone and could see upward movement to 225, but a break below support could lead to a decline toward 217.
- 🚗 Tesla's price action is bullish but has faced multiple rejections near resistance levels. A potential 'sell the news' event could occur around the October 10th Full Self-Driving event.
- 💻 Nvidia's stock is heavily influenced by uncertainty surrounding AI demand, and consolidation is expected until earnings.
- 💰 Bitcoin is struggling below key moving averages, and a crossover of the 5 and 13 EMAs could signal bearish movement if it fails to rise above them.
- 📉 TMF is finding support at the 50-day EMA and shows mixed signals: RSI below 50 (bearish) but prices above the 50 and 200 EMA (bullish).
- 📅 Important economic reports, including JOLTS, ISM Manufacturing, and non-farm payrolls, are expected to bring volatility and impact market movements.
- 📊 The speaker promotes additional content, technical analysis, and trading strategies via their Patreon and Stocko Academy, where followers can learn more about their 'bread recipe' strategy.
Q & A
What is the rising wedge pattern mentioned for the SPY chart?
-A rising wedge pattern in technical analysis typically indicates a potential reversal or breakdown. In the context of SPY, staying within this pattern might mean a continued upward trend, while falling below the pattern could lead to a significant drop.
What economic reports does the speaker suggest monitoring closely?
-The speaker highlights the importance of the JOLTS (Job Openings and Labor Turnover Survey) and ISM Manufacturing data, both expected to cause market volatility. Additionally, the non-farm payrolls and unemployment reports are significant for market movement.
What is the long-term bearish divergence noted in the SPY monthly chart?
-The speaker mentions a significant bearish divergence from 2018 to the present on the SPY's monthly chart. Bearish divergence occurs when prices rise, but momentum indicators, like the RSI, do not follow, suggesting potential weakness in the trend.
What signs of a rising wedge pattern are seen in QQQ?
-The QQQ chart shows early signs of a rising wedge pattern, similar to SPY, with a potential rejection and sell-off from recent highs. This pattern may indicate a reversal if confirmed.
What is the consolidation pattern observed for Nvidia?
-Nvidia is currently in a consolidation pattern, with prices moving within a narrow range between two trendlines. The speaker suggests volatility may increase as Nvidia approaches its earnings report in November.
How is Tesla's stock performing ahead of its full self-driving day on October 10th?
-Tesla is climbing toward resistance, with the speaker expecting a potential 'sell the news' event leading up to full self-driving day. The stock has been rejected multiple times at key resistance levels.
What is the key support and resistance for Bitcoin?
-Bitcoin is currently fighting with its 200-day moving average, which has been acting as resistance. The speaker warns that if the 5-period EMA crosses below the 13-period EMA, it could signal a bearish trend.
What does the speaker suggest watching for TMF?
-The TMF chart shows support at the 50-day EMA and SMA, with mixed signals from the RSI being below 50 (bearish) but prices above key moving averages (bullish). The outcome of economic reports, such as the JOLTS and ISM Manufacturing, could influence TMF's movement.
What is the 'bread recipe' mentioned in the Stocko Academy course?
-The 'bread recipe' is a simple and effective trading strategy taught by Stocko Academy. It involves using a minimal number of indicators to identify potential buying and selling opportunities based on price movements.
How does the speaker recommend accessing early technical analysis and community discussions?
-The speaker suggests joining the Patreon and Discord community, where members can see technical analysis, buy/sell alerts, and participate in discussions before the information is published on YouTube.
Outlines
📈 Technical Analysis Overview for Major Stocks and Cryptos
The first paragraph dives into technical analysis for SPY, QQQ, IWM, Nvidia, Tesla, Bitcoin, and TMF. The speaker discusses market patterns, such as a rising wedge in SPY and QQQ, noting potential volatility around key economic reports like JOLTS and ISM Manufacturing. The analysis points out bullish indicators, including the RSI and EMA, while also highlighting bearish divergences in longer-term trends. Key support and resistance levels are mentioned across various assets, with an emphasis on the importance of upcoming economic reports and earnings.
🚗 Tesla and Bitcoin Market Dynamics
The second paragraph focuses on Tesla and Bitcoin. For Tesla, there is a discussion around resistance levels and the potential for a 'sell the news' event leading up to Full Self-Driving Day on October 10. The speaker anticipates a bullish trend but warns about possible rejections at resistance points. For Bitcoin, attention is given to the 200-day moving average acting as resistance, with a bearish potential if the 5-period moving average crosses below the 13-period. The speaker emphasizes watching for non-farm payrolls and unemployment reports, which could impact market sentiment.
Mindmap
Keywords
💡Rising Wedge Pattern
💡SPY
💡QQQ
💡IWM
💡Nvidia
💡Tesla
💡Bitcoin
💡TMF
💡Non-Farm Payrolls
💡EMA/SMA (Exponential Moving Average/Simple Moving Average)
Highlights
Rising wedge pattern in SPY with potential for bullish breakout or retest of support, leading to a big drop.
SPY is above the 5-period EMA and RSI is between 50 and 70, signaling a bullish short-term trend.
Massive bearish divergence in SPY since 2018 on the monthly chart, despite current upward trend.
Economic data like JOLTS and ISM Manufacturing at 10:00 AM could trigger volatility in SPY.
QQQ showing signs of a rising wedge pattern, similar to SPY, which could lead to a sell-off.
Nvidia in a consolidation pattern with potential for a breakout, possibly driven by upcoming earnings in November.
IWM finding support within a long-term bull channel, with potential upside target of 225 if strength returns.
IWM's downside support around 217-216 could trigger a fall to the next trendline if broken.
Tesla is running up towards a resistance area of 263 with a possible sell-the-news event after October 10’s RoboTaxi Day.
Tesla has been rejected three times at resistance, suggesting potential bearish movements after reaching a peak of 271.
Bitcoin is struggling with resistance at the 200-day moving average, currently below both the 5 and 13 EMAs.
Bitcoin showing mixed signals with a potential bearish trend if the 5 crosses below the 13 EMA.
TMF finding support at the 50-day EMA and SMA, with potential upside targets at 59, 61, 64, 66, and 71.
Economic reports, including non-farm payrolls and unemployment, could significantly impact TMF’s price movement.
Stocko Academy offers a technical analysis course, with a trading strategy referred to as the 'bread recipe,' designed for easy setup and success.
Transcripts
here we go I got another exciting round
of technicals to share with you in this
video for spy QQQ iwm and then I'll also
put out there Nvidia Tesla Bitcoin and
an update on TMF as well I think the
charts are very interesting to take a
look at I think that you're going to see
a lot of very informative things on
these charts if you guys want to see
these technicals before they hit YouTube
if you want to see my buys and sells the
link down in the description for the
patreon Discord you can go ahead and
choose that for the meantime here let's
get over to py so what we're looking at
for the Spy here is a rising wedge
pattern that we happen to be in and I
said we could stay in this in an upward
trend for a little while breaking up
above it would be bullish staying down
below it we could possibly Trail back
down to support down here along this
bottom trend line falling down out of
that especially retesting it could be
where you would get a big drop if
something like that would be coming our
way we are narrowing downward the last
full month before the election that's
going to be important thing for us we
have jolts and ISM Manufacturing today
we get that information coming out at
10:00 a.m. expect volatility around that
time so be on the lookout for this we're
on top of the five right now the five
period EMA that is a bullish thing the
RSI also up above 50 but below 70 also
bullish longer term if you watch my
other videos I talked about the fact
that we have bearish bearish Divergence
rather massively from 2018 until now for
spy when we look at the monthly chart
but for right now we could continue
upward for a little while longer we do
want to keep an eye out on those
economic reports especially this Friday
with non-farm payrolls and the
unemployment report moving over to QQQ
you can see where we peaked out we be
out this last high that we have here
maybe we're starting to get that signs
of the first signs of a rising wedge
pattern on here so if we click there and
then go across this you can see we just
had a little peekaboo now this is
actually starting to look a little bit
more like what we had for spy so same
thing for the rising wedge pattern you
can see that rejection see where we sell
off Nvidia sort of trading sideways
recently now mind you all that narrowing
could lead to a breakout moment maybe
that happens during the earnings calls
especially during the big Tech earnings
later this month Nvidia will not report
their earnings until November and I'll
give updates for that you guys can also
check that out over at the Discord first
available through the patreon so if I go
over from the cues over to iwm for iwm
look at this on the hourly chart look at
this support area that we're kind of
stuck in right now yeah we fell out of a
little bit but we keep on coming right
back to it I guess you could sort of
argue resistance on this however I still
don't think it's support fully broken we
can't we keep on enter right back up in
here from this peak that we had so
coming down finding support losing it
for a little bit and so still a little
argu I'm going to keep it green for
right now I'm looking for 225 to the
upside if we're able to find strength in
the markets we're going to have to watch
and see if we fall down through this we
could be looking at 217 down to about
216 until we fall down upon the next
trend line that we have down to the
bottom of this within a massive bull
channel that we have that is like over a
decade long like about 15 years long
bull channel for iwm so we can have a
lot of price movement within that we can
certainly fall back down from where out
right now and we'll see if that happens
if it does I think that sets up for the
next major rally so let's move on to
Nvidia for NVIDIA you can see the
consolidation pattern that we have and
uh let me take away the technical just
for a moment you can see just how narrow
how narrowly these prices are moving we
got a little bit of a pop over the past
several days and then Fallen right back
down to support thanks to what we had
for the Micron earnings but still not
quite able to make it outside of these
two trend lines that we have right here
the carry trade bumped us out a little
bit we got a little bit frothy on the
26th and then sold right back down near
that 50 period EMA and SMA and you guys
can check out these prices that I have
to the upside and downside for NVIDIA
that we could potentially move any the
direction these are the prices that you
want to watch out for based on those
movements and you can see how well the
different supports and resistances and
moving averages on here are propping up
those candles that we see right now so
for NVIDIA man certainly getting that
consolidation baller band I guarantee
you we're narrowing quite a bit until we
had this little breakout moment that we
had right here uh get a little bit of
volatility we'll see if we keep on in
that sideways trade up till earnings or
if the market runs or tanks Nvidia is
probably going to be drug around a
little bit by it during that time right
now there's still that uncertainty out
there over just how much demand is going
forward for the AI sector for the
products and services from Nvidia and
how well they're able to uh continue
their market dominance that they have
and show that they have the economic mod
not to be overtaken over to Tesla I once
again well actually this the 15minute
chart but it give such a beautiful view
of what we have on an intraday basis you
can see we didn't quite make it to
resistance over here before selling off
sharply to support and that that support
area by the way kicks off at about 24ish
up here to the upside about 263 is where
we find that resistance got that
rejection there still running up right
now to that full self-driving day on
October the 10th the higher we climb on
this thing especially if we're able to
make it up and catch this previous Peak
that we have over here at about 271 the
more I think that we're going to get a
sell the news event following what we
have are leading up to so shortly before
what we have leading up to October 10th
for the robo taxi day so we're going to
be a watch out for for Tesla still
looking bullish in the meantime got to
make it up over that resistance area
keep on getting rejected was we'll call
it three times so far we'll see what
today brings so moving over to bitcoin
still fighting with the 200 a it's
actually tucked in here inside this
green band that I have for well at this
point in time I put support when we're
up or above it but honestly it's acting
a little bit like resistance right now
there's the 200 day coming across the
screen right here in yellow we
absolutely want to be watching that need
to break back back up above it we're
down below the five the 13 we're closing
up above it but if that five crosses
over the 13 we start to dangle off those
moving averages that is something that
could be seen as bearish you can
actually see the candles dangling here
off the moving averages hanging off the
bottom of them so that's where you get
that bearish movement when you're
actually up above them when you're
riding on top of them is where you get
that bullish movement right now looking
a little bit mixed we got to watch and
see I think this is that big week that I
keep on talking about for non-farm
payrolls and for unemployment now for
the TMF update we keep on finding
support at the 50-day EMA SMA the RSA on
a daily basis right now is below 50 so
bearish but up above the 50 and the 200
so bullish got our golden cross moment
back here you can see the prices to the
upside on this 59 61 64 about 66 and
about 71 to the upside as we travel up
this way in the pre-market hours finding
some strength at about
5930 and uh some of that could be
attributed to what we have for uh jolts
numbers and ISM Manufacturing numbers
that are due out at 10:00 so if those
are sour for us then that is something
that could be a boon for TMF if those
are really strong numbers are in favor
of a strong labor market a type labor
market that conditions uh aren't just uh
falling apart and turning into just a
pile of yuck on the floor for the jobs
Market uh well in that case that either
we show that we're stabilizing for jobs
or tightening for jobs either one of
those things is going to be bullish for
the markets but it's going to be a
little bit of trouble for TMF things
that show further loosening the jobs
Market is going to be bullish or upward
pressure for TMF guys if you want to see
these technicals like I said before they
hit YouTube you want to see my buys and
sells talk to me and my community
members say link down description for
the patreon click that sign up and head
on over to the Discord you can see all
that over there and if you guys want to
learn to do this technical analysis
trading for yourself you can do so using
the link for stocko Academy down in the
description learn all about technicals
and nice easy to digest pieces learn a
trading strategy that stocko refers to
as the bread recipe that is just super
clean easy to set up very view
indicators super easy to read as well
and you can see when times to buy even
though it doesn't tell you what to buy
or sell it shows you when you might get
that bullish movement to the upside that
you might want to go long and it shows
you at times when you might get that
drop to the downside where it might be
times that shorting might be more in
order no Financial advice no telling one
to buy or sell but you do go with those
indicators with that trading strategy
you guys can learn all about it using
the link down description for the stocko
Academy technical analysis trading
course use the code word doctor when you
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success for it too thank you guys for
watching I am Dr stock dror of Education
remember my friends that learning is
earning I'll see you next video
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