Big week ahead. $QQQ might dump another 8%.
$QQQ (Nasdaq 100)
Short-term bounce likely, then continuation down. Last week was brutal—tech got sold hard after making ATH. Classic distribution. Watch for dead cat to 725-729, if it fails there, we're looking at another leg down. Real risk? 8% drawdown to ~670. But if it rips through resistance, V-shaped recovery is on the table.
$SPY (S&P 500)
Holding better than Nasdaq. Key support at 765 still intact. If that breaks, ~5% pullback incoming and quarterly gap gets filled. Not full bear mode yet, but close.
$SMH (Semis)
9 straight red days. Now sitting at critical support 530-540—this level has held multiple times. Technical bounce probable, targets 570-590. But 9 down doesn't guarantee day 10 is green. Support can break.
$MAGS (Mag 7)
Still holding 70 support, but heavy volume selling late last week. If this breaks, it's ugly.
Bias: short-term bearish, especially $QQQ. But don't go full degen short—bounces will wreck you. Trade the levels.
$QQQ (Nasdaq 100)
Short-term bounce likely, then continuation down. Last week was brutal—tech got sold hard after making ATH. Classic distribution. Watch for dead cat to 725-729, if it fails there, we're looking at another leg down. Real risk? 8% drawdown to ~670. But if it rips through resistance, V-shaped recovery is on the table.
$SPY (S&P 500)
Holding better than Nasdaq. Key support at 765 still intact. If that breaks, ~5% pullback incoming and quarterly gap gets filled. Not full bear mode yet, but close.
$SMH (Semis)
9 straight red days. Now sitting at critical support 530-540—this level has held multiple times. Technical bounce probable, targets 570-590. But 9 down doesn't guarantee day 10 is green. Support can break.
$MAGS (Mag 7)
Still holding 70 support, but heavy volume selling late last week. If this breaks, it's ugly.
Bias: short-term bearish, especially $QQQ. But don't go full degen short—bounces will wreck you. Trade the levels.