Pre Market Analysis 🧐
What’s good family💯 hope everyone had a great weekend🫡. Market is almost back in full effect so it’s time to lock in💰 and see what we have to start the week👀
-$SPY took a nosedive with the rest of the market Fridays and found support around last Mondays highs. I’ll be watching to see if this gap up above old supply levels at $601.77 holds until opening….if so we’re prob gonna see a retest of highs so my 1st target is at $609.75 and a second target above that at $613.65. If it’s unable to maintain the $603 trend then I’ll be watching for underlying support at $598 to see if levels hold.
-$QQQ rejected the $532 level Friday and we shortly saw a dramatic sell off which recovered around $522-$521 at the levels that we we’re looking for. We have a nice gap up pre market so we money has stepped in this morning and looking for a retest if Fridays higs. There’s also a pod of a retest of $521 if we refill this gapped level but that should still be a setup for a move back to the upside. If we for any reason lose $521 levels then I have underlying support at $511.
-$NVDA held rather strong during Fridays sell and it’s continuing to attempt to cover more ground as it pushes toward our next target of $132.50. Buyers will need to continue to defend this $128 level of support because if we lose that then it’s a long way down to $118 gap fill. If prices can build above $132 then NVDA could be on its way to close this bearish supply gap at $142.
-$TSLA with some more movement to the downside this morning but it’s filling a gap on the 30 min chart it’s trying to get filled since last week. Even if prices continue to dip from here…I believe buyers will step in heavy at these levels. I currently have an upside target at $380 and underlying support at $340.
If you wanna explore more of my charting style tap in the YT daily analysis for more of a visual and as always let’s lock in profits when we see em them and use a decent SL to preserve capital. Cash is always a position because it’s always safer to buy in red days than it is green. Let’s get this 💰