Market Moves: $SPX, $BRK.B, $NDX Show Key Support and Resistance Signals

SmartReversals
02-04

This week, major indices and blue-chip stocks are testing critical support and resistance levels, signaling potential short-term shifts and trade setups.

1. $S&P 500(.SPX)$

As mentioned yesterday, the indecisive candle in the 4H timeframe had an encrypted message.

The first bearish target of the week was reached, while $JPMorgan Chase(JPM)$ $Wal-Mart(WMT)$ $Berkshire Hathaway(BRK.B)$ continue reaching bullish targets posted in the Weekly Compass🎯.

2. $Berkshire Hathaway(BRK.B)$

The bullish reversal was anticipated in my S/R levels edition as early as Friday afternoon; a consolidation at the 20DMA is perfectly normal.

3.$NASDAQ 100(NDX)$

The sequence of upper Bollinger Band breaches followed by a slide to the lower band repeated as expected.

This bearish candle, compounded by the negative reaction to $Advanced Micro Devices(AMD)$ earnings, suggests a revisit to at least $25,000.

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