$SPX & $QQQ Approach Critical Technical Inflection Points

SmartReversals
06-27

Markets remain at a critical technical inflection point.

While the $SPX was rejected at key resistance, $QQQ is now testing major support, setting the stage for the market's next directional move.

1. $S&P 500(.SPX)$

As posted last night in my daily note (subscribe, link in bio): 7,412 was a resistance zone to consider; the $MU euphoria could find rejection there.

The top of the day was $7,419🎯 and the structure is still weak.

2. $Invesco QQQ(QQQ)$

$QQQ is sitting right on the edge. It found support at the 50DMA, while the 20DMA is curling down.

If that 50DMA fails, the lack of volume at price could trigger a rapid trapdoor move straight toward the 682 gap.

Every week, I publish high-probability setups. For the week now concluding,

$Microsoft(MSFT)$ reached $356.3 (-6.1%) 🎯.

The $S&P 500(.SPX)$ hit 7,318.4 (-2.4%) 🎯.

$S&P 500(.SPX)$ comfortably exceeded my target of $629.3 beyond a 4.6% pullback 🎯, and

$Advanced Micro Devices(AMD)$ reached $510.3 -5% 🎯.

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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