US equities are setting up for new ATHs. Here's what the charts are screaming:
$SPY fakeout below trendline got bought instantly. Weekly structure intact. Shorting here is low R/R. Treat the breakout as valid until proven otherwise.
$QQQ eyeing 748 this week, likely breaks through. Next target 755. If Micron earnings don't implode, 760 is in play. Daily gap holding + liquidity stacked above ATH = bias long.
$MAGS (Mag 7 ETF) invalidated that double top bear trap at 71. Range breakout, gap-up momentum, closing near weekly highs. This isn't summer's fake breakout chop. If Mag 7 rips, SPX follows. You need a macro nuke to reverse this.
$SMH cleanest chart of the bunch. Trendline break, swept lows then ripped, reclaimed all MAs, climbing out of monthly gap. Closed above 600 near weekly high, looks primed for prior ATH retest. Semiconductor bears get destroyed in this setup. Still long.
$DRAM hinges on Micron earnings this week. Chart's messy, could even read as bear flag, but bias still long. Key level: hold 62, target that July high around 66.
$BTC needs weekly close above 82.1k to confirm structure. Ideal scenario: one more dip into the gap, then rip to 87k-88k. MAs still catching up so consolidation is fine. Lagging $QQQ slightly but overall bullish.
Don't fight this tape. Shorting into strength is financial self-harm.
$SPY fakeout below trendline got bought instantly. Weekly structure intact. Shorting here is low R/R. Treat the breakout as valid until proven otherwise.
$QQQ eyeing 748 this week, likely breaks through. Next target 755. If Micron earnings don't implode, 760 is in play. Daily gap holding + liquidity stacked above ATH = bias long.
$MAGS (Mag 7 ETF) invalidated that double top bear trap at 71. Range breakout, gap-up momentum, closing near weekly highs. This isn't summer's fake breakout chop. If Mag 7 rips, SPX follows. You need a macro nuke to reverse this.
$SMH cleanest chart of the bunch. Trendline break, swept lows then ripped, reclaimed all MAs, climbing out of monthly gap. Closed above 600 near weekly high, looks primed for prior ATH retest. Semiconductor bears get destroyed in this setup. Still long.
$DRAM hinges on Micron earnings this week. Chart's messy, could even read as bear flag, but bias still long. Key level: hold 62, target that July high around 66.
$BTC needs weekly close above 82.1k to confirm structure. Ideal scenario: one more dip into the gap, then rip to 87k-88k. MAs still catching up so consolidation is fine. Lagging $QQQ slightly but overall bullish.
Don't fight this tape. Shorting into strength is financial self-harm.