$SPY STOCK MARKET UPDATE 23rd JUNE ( BEARS TESTING DEMAND ZONE LAST 2 DAYS )

Summary

The video script offers a detailed market analysis for the upcoming week, highlighting bullish and bearish trends across various stocks and indices. It discusses technical indicators like MACD and support zones, emphasizing the potential for pullbacks and price targets. The speaker also covers specific stocks like Tesla, Microsoft, Apple, and Bitcoin, providing insights into their current market conditions and future projections, while advising caution and due diligence for traders.

Takeaways

• 📈 The overall market conditions are described as continuously bullish with a few technical indicators showing overbought conditions.
• 📊 The MACD indicator is noted to be almost overbought, suggesting that the market may need to 'fill up the gas' to continue its bullish trend.
• 🔍 On a smaller time frame, such as the 4-hour chart, the market appears to be giving mixed signals with a slight bearish trend developing.
• 📉 The 30-minute chart indicates a bearish trend with the market testing the support zone, suggesting a potential pullback or short entry opportunity.
• 📅 The upcoming earnings season and the transition from the second to the third quarter are expected to influence market movements.
• 🚀 The speaker anticipates that the market could test the cloud or support levels, hinting at potential downward movement.
• 🤔 Technical and fundamental analysis is emphasized as important, but the speaker also notes the unpredictability of market makers' moves.
• 💡 The importance of watching for market maker moves and waiting for clear signals before making trades is highlighted.
• 🏁 For specific stocks like Tesla, Microsoft, and Apple, the script provides analysis of their current market positions and potential future movements.
• 💻 The speaker recommends using trading view and understanding technical drawing to better identify entry and exit points in the market.

Q & A

What is the general market condition described in the script for the upcoming week?

The general market condition is described as continuously bullish, with the daily chart showing all conditions looking bullish.

What does the MACD indicator suggest about the market's current state according to the script?

The MACD is almost overbought, indicating that the market conditions are overbought and a potential pullback might occur as the MACD needs to 'fill up the gas'.

What is the significance of the 4-hour chart in the script's analysis?

The 4-hour chart is used to identify a bearish cross down, suggesting that bulls are slightly giving up, but the overall conditions remain bullish with sloping support still intact.

How does the script discuss the impact of the COD (Call of Duty) gaming month and option expiry on the market?

The script mentions that the COD gaming month and option expiry could have influenced the market's bullish trend from April to June, as the market may have been anticipating the earnings season starting in the third week of July.

What is the potential market scenario if the market breaks the demand zone according to the script?

If the market breaks the demand zone, there is a high chance (70-80%) that the market could go lower, especially if the demand zone flips downward after a retest and rejection.

What specific price target is mentioned in the script for a potential short entry if the market bounces and rejects?

The script mentions a price target of around 546 for a potential short entry if the market bounces and experiences a rejection.

How does the script analyze the QQQ (Invesco QQQ Trust) in terms of its bullish or bearish stance?

The script analyzes QQQ as having a solid bullish daily chart but a bearish 4-hour chart, suggesting a potential pullback if support at 479 breaks.

What is the script's view on Tesla's market behavior and potential future movement?

The script views Tesla as being in a sideways bullish position but warns that any bad news could cause a significant drop, as Tesla is not moving much despite the overall bullish cycle.

What advice does the script give regarding trading Apple stock based on its technical analysis?

The script suggests that Apple could be a good short opportunity if there is a bounce at around 208 and a subsequent breakdown, with a potential target of 197.

How does the script discuss the potential trading opportunities for Nvidia and Bitcoin based on their current market conditions?

The script indicates that Nvidia is bearish with a target of testing 125 and advises caution, while Bitcoin is heading to 60,000, suggesting a bearish trend with bulls giving up.

What is the script's final recommendation for traders regarding entry points and understanding market conditions?

The script emphasizes the importance of understanding entry points, market conditions, and having a technical drawing setup for trading view. It advises traders to wait for the right setup and not to rush into trades without proper analysis.