$SPX Is Ripping. $QQQ Is Sending a Warning
Another day, another rally — and another gap.
For $S&P 500(.SPX)$ , I’m still not interested in fighting the trend. The market keeps pushing higher, so there’s no reason to force a bearish trade here.
That said, 7,610 has already been tested, and I still have 7,681 on the radar. Eventually, I expect that level to come into play, while 7,610 remains unfinished business. 👀
In a choppy market, individual names can tell a very different story.
$SpaceX(SPCX)$ $Netflix(NFLX)$ $iShares Bitcoin Trust(IBIT)$ $Wal-Mart(WMT)$ are all holding the bullish setup we expected. 🚀
Then there’s $Invesco QQQ(QQQ)$ .
The diagonal resistance is still doing its job, and today’s indecisive daily candle keeps the broader sequence of lower highs intact.
The interesting part is the gap structure:
👉 A move to fill 729 first could turn into a bull trap.
👉 Bulls would have a much cleaner setup if 701 gets filled first.
So I’m staying with the trend on $SPX, but I’m not chasing blindly.
Let price reach the levels first. Then we see what the market gives us. 🎯
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