To The Moon

The volatility spiked during the week, trading psychology was tested as anticipated, having a clear strategy and objective is key; these S/R levels are useful for the week ahead.The inverted hammer seen yesterday for $S&P 500(.SPX)$ was validated today, that makes total sense considering the following chart:The daily candle suggested yesterday a decline for the volatility index today, and a subsequent bounce for SPX. The question is: will the bounce continue? $Cboe Volatility Index(VIX)$ https://substack.com/home/post/p-146957702

Russell2000 $iShares Russell 2000 ETF(IWM)$ confirmed a base breakout above $2133-$2100.It indicates potential upside beyond resistances at approximately $2288 and $2350-$2360, as well as surpassing the late 2021 peak of $2459, towards the upper target of $2620. The surge in RTY stocks reaching new 52-week highs suggests that the RTY is likely to sustain this upward breakout. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini Russell 2000 - main 2409(RTYmain)$ Imagehttps://x.com/SmartReversals/status/1816825688319508664

$S&P 500(.SPX)$ - Daily Chart:Promising move, the inverted hammer had validation, since today’s opening was above the previous day’s body.50DMA was recovered, and Williams%R is showing a move comparable with the last bottom.There are two pending checkpoints: Jumping above the 5DMA, which is still governing the very short term trend, and triggering a bullish crossover in Stochastic.Today’s candle was not an example of conviction, but is not bearish either; and volume was high.$SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ $iShares Russell 2000 ETF(IWM)$Imagehttps://x.com/SmartReversals/status/1816929818224582709

$NVIDIA Corp(NVDA)$ - From Hero to VillainThis reminds me of $Apple(AAPL)$ 's pullback after its split in 2020.Considering the wick below the Bollinger Band, will the spinning top candle trigger a bounce?Or is the price aiming to fill the gap at $96? $S&P 500(.SPX)$ $Technology Select Sector SPDR Fund(XLK)$ $Invesco QQQ(QQQ)$ ImagePublished in the Weekly Compass of June 8th:The $Apple(AAPL)$ case from 2020: a -25% decline from the top.Back then she was the sweetheart, and a split accelerated the euphoria.

$S&P 500(.SPX)$ - DailyDisappointing retrace during the afternoon❌50DMA switched to resistance position.❌The Bollinger Bands are widening.ℹ️Stochastic is entering in oversold territory.ℹ️Price action is aiming at filling the $5374 gap.The only chance for bulls is a confirmation for the inverted hammer candle and Williams%R oversold.Image $SPDR S&P 500 ETF Trust(SPY)$ - Monthly ChartThey told me "July is a bullish month", same as April.In the meantime, SPX has a situation to solve:3 trading days to fix this bearish monthly candle.Imagehttps://x.com/SmartReversals/status/1816538499333366170

$NASDAQ 100(NDX)$ - Ugly DayWhen one third of $S&P 500(.SPX)$ is concentrated in tech giants, the SPX gets a cold when the others sneeze. $Microsoft(MSFT)$ ’s daily candle crossed the lower Bollinger Band, similar to April 19th. Possible bounce.Risk management is key as presented in the latest publication.A day can today can be mitigated or completely avoided with stop losses.Stop losses are a fundamental tool in trading that helps manage risk, control emotions, preserve capital, and enhance trade planning. They can increase the chances of long-term trading success. $NVIDIA Corp(NVDA)$

$NASDAQ 100(NDX)$ - Daily Chart:The last time that a candle crossed this way the Bollinger Low there was a bottom.It's still too soon to expect that, but a technical bounce could happen tomorrow, otherwise $18750 $18710 should support price.50 DMA, expected to be the destination for today, ended up in Resistance position, today at $19406. $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2409(NQmain)$ Imagehttps://x.com/SmartReversals/status/1816212316762898901

$S&P 500(.SPX)$ - Daily Chart:What was odd this week was the bounce on Monday, because the weekly setups presented in the latest Weekly Compass indicated bearish continuation.Since a rally on Monday can cause confusion within a bearish weekly setup, I published a special edition that day indicating that $5578 could create pressure and reject price, and that the $Cboe Volatility Index(VIX)$ needed to stay below 15. Neither of these conditions materialized.Today, price is nearing a potential support level indicated last Saturday (access to publication below chart).There is a first oscillator oversold in the daily, William%R; that's the fastest one, so odds of a technical bounce tomorrow exist, but the co

$Alphabet(GOOG)$ $Alphabet(GOOGL)$ - Daily:From the Weekly Compass:"It broke below $181.6, the annual S/R level I mentioned as a target for the Cup with Handle formation.The daily chart is oversold... and the lower Bollinger Band is clashing with the downtrend. I’d expect $174..."Today, the candle's shape and position can be in the reversal category; mostly because it is validated by volume and below the Bollinger Band.If not a bottom, it could be nearby, remember how obedient is Google with the Bands.Imagehttps://x.com/SmartReversals/status/1816206394355294530

What a day! However, nothing unexpected occurred based on the weekly setups shared in the latest Weekly Compass edition. The surprise was Monday's bounce, which turned out to be a bull trap or the high wick of a bearish weekly candle, as no move is ever perfectly linear. This prompted me to publish a special update on Monday, providing key $S&P 500(.SPX)$ levels to track.The 23% Fibonacci retracement, initially presented as the less likely scenario, vanished, highlighting the relevance of support levels, which worked temporarily before succumbing to this week's decisive bearish move.The destination and most likely scenario published on Sunday remain unchanged. This is a pullback from a rare overextension, and had the peak not triggered a Bread