**SUPPORT FOUND!!** TMF Stock Bouncing! Stock Market Analysis | TSLA Stock | BTC | NVDA Stock

Summary

In 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.