NDX and the seven tech megacaps made me think twice
I started charting with $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ with a bullish view considering a short term pullback, then $DJIA(.DJI)$ $GLOBAL X DOW 30® COVERED CALL ETF(DJIA)$ with an okay bullish view.
However, $NASDAQ(.IXIC)$ $NASDAQ 100(NDX)$ and the seven tech megacaps made me think twice.
There are too many cautionary charts. Let's see how the week progresses and how the opening holds the key support levels. Big mega-caps weight 1/3rd of the SPX, quite significant.
The weekend newsletter is out.
Will chart during this days the other mega-caps that are not the usual suspects: $Eli Lilly(LLY)$ $Berkshire Hathaway(BRK.B)$ $Berkshire Hathaway(BRK.A)$ $Broadcom(AVGO)$ $UnitedHealth(UNH)$
Any other?
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This Week's Market Recap: Bullish Move, Tech Concerns, and Bitcoin Divergence:
**Price followed the Bullish pathway shared with Subscribers last week, SPX ended the week just 7 points above expectation.
**The rapid bullish move is not equal to a healthy one, Tech charts suggest caution is warranted next week.
**Bitcoin continues its long-standing divergence from the stock market, falling as anticipated.
https://twitter.com/SmartReversals/status/1789460309255618737
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- EricVaughan·05-13The cautionary charts definitely call for some attention.LikeReport
- JenniferEleanor·05-13👏💪LikeReport