Bull Trap as Anticipated

SmartReversals
06-26

In yesterday’s market update, I highlighted the confluence zone at 7,411.9 for the $S&P 500(.SPX)$ , a daily level I flagged to paid subscribers anticipating a potential bull trap following the after-hours rally sparked by $Micron Technology(MU)$ ’s earnings. SPX’s high today reached 7,419 🎯, validating the relevance of that resistance zone.

For $Invesco QQQ(QQQ)$ , I flagged 724.9 as a critical level; today’s high of 726.8 🎯 confirmed the sentiment shift and showed resistance holding stronger than support lines. $VanEck Semiconductor ETF(SMH)$ presented a similar case, I noted 646.6 as crucial for momentum confirmation, but the zone became resistance instead, with price topping at 650.

My approach layers technical indicators to identify direction and reversals with modeled support and resistance levels to set targets and anticipate reversal zones. I also highlighted bearish setups for both $Apple(AAPL)$ and $Amazon.com(AMZN)$ , with full technical context; both stocks cratered today 🎯

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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