Technical Analysis on .SPX& NAAS

Hello everyone! Today I want to share some technical analysis with you!

1.

CPI vs. Big Moves:

(1) tmrw pre-market, Nov. CPI number will be released.

(2) ever since Oct. 13, 2022, when that CPI number triggered one of the most volatile sessions in stock market history, every release left its mark.

(3) 8 ups, 6 downs, some very big moves. Be prepared.

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2.

Mag-7 are retreating--or recharging--in preparation for the last thrust higher. Even without them, however, the market manages to climb up today--showing the underlying strength & breadth of the rally.

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3.

Gap Fill at 4637-4662: $S&P 500(.SPX)$

(1) Jan. 18, 2022, SPX left a large gap open; on Mar. 28, 2022, it tried to fill that gap, but only made to 4637.

(2) almost two years later, SPX is knocking on the door again.

(3) given the strength of the rally, this gap is going to be filled this time.

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4.

The restructuring of business model in early 2023 expanded NaaS's operation to a broader arena--and has shown some amazing results lately. Also, a potential M&A would put NaaS in a dominant position in China's ever-growing EV-charging service. Stay Tuned. $NaaS Technology Inc.(NAAS)$

5.

In fact, this setup can be interpreted as that the rally has much more upside to go--150-200 SPX points to be exact--if you use the previous two tops as references. In other words, if the participation rate (>200MA) rises to 75% to get to THE TOP, there is more room to run.

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What's a Melt-Up?

(1) newbie traders may not have good memory of what a melt-up looks like.

(2) let's go back 3 years and study two classic melt-ups.

(3) basically, the angle of the rise is getting steeper, until a big eruption & reversal.

(4) no divergences for TA indicators!!

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