$SPY Rejects Sell Zone; $IREN $30 Becomes the Key Level

Hey everyone ๐Ÿ‘‹

A few updates on the names Iโ€™m watching closely right now. The overall picture hasnโ€™t changed much, but some levels are becoming increasingly important. ๐ŸŽฏ

๐Ÿ“‰ $SPDR S&P 500 ETF Trust(SPY)$ โ€” Still Bullish, But Watching September

$SPY is currently rejecting right inside the Smart Money Sell Zone.

I remain long-term bullish, but Iโ€™m still expecting a 2%โ€“3% correction in September.

For me, that doesn't change the bigger trend. Iโ€™m simply not interested in chasing strength when price is approaching an area where sellers have previously stepped in.

โš ๏ธ $IREN Ltd(IREN)$ โ€” $30 Is the Line in the Sand

$IREN needs to hold $30.

That level is important for two reasons: itโ€™s the last major level on the volume profile and also lines up with a key structural zone.

If $30 breaks decisively, Iโ€™d expect a relatively fast move toward $20, which would bring price back into the Monthly Smart Money Zone.

So right now, $30 is the level to watch. ๐Ÿ‘€

๐Ÿ’ฐ $ServiceNow(NOW)$ โ€” Taking Some Profit

$NOW is up roughly 50% since the video I shared, so Iโ€™m now taking some shares off the table.

I still think $170โ€“$180 is possible over time, but the short-term setup looks extended.

Because I entered later, Iโ€™m only booking around 30% of the position.

And respect to everyone who managed to hold the entire move. ๐Ÿ‘๐Ÿ”ฅ

๐Ÿ‚ $Marvell Technology(MRVL)$ โ€” Still Bullish, Just Not Chasing

$MRVL remains in a bull cycle.

Iโ€™m simply going to stay patient and see whether price can come back toward my preferred buy zone over the next couple of months.

Iโ€™m not bearish on $MRVL.

I just don't want to overpay for a stock when I can wait for a better entry.

Thatโ€™s really the theme across these names right now:

Stay bullish where the trend supports it, but let price come to you. ๐ŸŽฏ๐Ÿ“ˆ

Hope everyone has a great trading week ahead! ๐Ÿ™Œ

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