Daily Chart: MSFT, AAPL, META, NVDA, GOOG, VIX, QQQ & SPX
The bounce from oversold conditions continues crossing resistance levels and Stochastic is behaving as in previous bottoms.
Like it or not, the Mag 7 have a lot of influence in the market, and there are promising conditions:
$Microsoft(MSFT)$ : Up as the daily candle suggested yesterday, also validating 20 Weekly MA as support for now.
$Apple(AAPL)$ : Shy recovery of $166, to soon to celebrate but there is hope.
$Meta Platforms, Inc.(META)$ : Struggling at the 50DMA in confluence with $495
$NVIDIA Corp(NVDA)$ : 807 has been recovered, that's a good sign as mentioned during the weekend.
$Alphabet(GOOG)$ $Alphabet(GOOGL)$ : Closed at the critical $161 level, will the third week be the charm?
$Cboe Volatility Index(VIX)$ : Suggests further decline, that would be good for indexes.
$Invesco QQQ(QQQ)$ : Above $423 is good, a level to manage risk.
$Spenda Ltd(SPX.AU)$ and the market in general: Price action presented exhaustion in the last hours of the trading day, so it's important to consider $5,029 as support, see the zoomed 2 Hours chart.
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https://twitter.com/SmartReversals/status/1782876772536627370
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- 港股知識匯·04-24I agree that the Mag 7 have a strong influence.LikeReport