Stock, Nasdaq Buy Now or Sell The Stock Market This Week? This Is The Time! [Nasdaq, DOW, TSLA, SP500, BITCOIN]
Well, here begins our recap of the markets for last week’s close and, of course, our look ahead and straight away. Banks were in focus on the friday, close, take a look at jp, morgan, bank of america, etc. They were up incredibly heavily. This led to the iwm or russell 2000 moving up 2.11 with the dow jones firing with the second best return, 1.33 pretty unusual for the dow, and we had the s, p, 500 and nasdaq, leading behind and you’ll notice. The nasdaq actually started negative. So while the others started positive, the nasdaq started negative and everything was up throughout the session, pretty impressive stuff here in the markets. If we go over and have a look at the sectors themselves, financials out in the lead energy materials, these were the ones that were picked. These were the ones that have been beaten down a little bit recently and coming into earnings season. The street has some massive expectations on the market, and i want to talk about expectations here, because i think we need to be a little bit. Smarter we’ve been talking about how we’re optimistically neutral on the markets right now, which means that we’re going to run this july trend we’re going to run the statistics we know july is the best month of the year on average by returns, but we also need to Be aware of current expectations in the market, schiller p e ratio, while it’s not used much anymore, does show us how crazy this market is.
38.36 we’ve only ever had one higher reading, and that was the dot com bubble. Now. Does this matter anymore as much as it did? Arguably not and arguably it should be much higher median than it used to be, but this is certainly up a lot you’ll notice that the mean and medians i mean it’s, it’s, literally double those right now, plus guys. So some expectations here on this on the market is that everything is good. Everything is green and it’s all great and when it comes to understanding what’s going to go on this week, we’ve got banks, banks, banks, banks, banks with the earnings; yes that’s right, we’re back in earnings season, goldman sachs, jp morgan bank of america. They will be starting. The charge and we’re in for some exciting couple of sessions here throughout the next weeks, as we go back into looking at specific markets, specific sectors and targeting in on where the rotation and where the money is going from wall street. The other big indicator here, as we get into our technical analysis, that things are starting to turn around in terms of the positive signs for the markets, is the dollar index. The dollar index failed to breach the 50 exponential moving average last week on the weekly this. This is literally such an important thing we broke above and then i’ve always said. The close is the key we were looking for this. Does this look bullish for anyone here it doesn’t? Certainly, for me, the dollar index took a massive tumble through the friday session and actually closed didn’t go as low, but it did close under any other daily session over here, signaling that there could be further selling next week in the dollar index, and maybe we get Even as low as like a 9160 and before making you know a decision, whether we’re ready to bounce back up or whether we’re you know really just going to keep going down in a gradual decline for the dollar, not a positive sign here, not a good sign.
At all – and this has led to things like gold as well becoming back in focus, so you can see here when you look at a gold chart what happened resistance, resistance resistance got breached above. It then has had a lot of indecisions all around this 1800 to 1810 kind of level, and we get a closure above any of these points, and i even think the friday close was fairly strong here and we should be moving back to the 1845 area. The 1845 area is the target previous resistance, previous support, it’s, pretty nice and i don’t mind the gold chart right now. I don’t think it’s fantastic, but i do think that we’ve got a strong range above the resistance, and if that range breaks, past let’s say in 1815 wow, we surely should see some further buying commitment from the gold bugs out there silver a little bit lackluster here. Silver’S got like a 25 70 support, the daily 200. You can see the green line here is holding it above and if it does break below this level, guys that’s bad for silver, and i i would expect silver actually to sell off at least 25, if not 2450 from the technical analysis perspective. If we think about the resistance side, though, 2650 gets closed above on something like a daily, where do we go the bottom end here we could go all the way. 27. 27.50 quite easily here on silver, so lots to watch through these and it’s all going to be about the dollar index and i will be patiently waiting for quite a few of those.
Now we spoke about how wall street likes to manipulate the markets. Well, firstly, wall street kind of was signaling and i still think they are signaling in the bond market here that there’s problems afoot. When the bond market starts running, we know that money is starting to rotate out of the market and go somewhere else, or at least money that was sitting on the sidelines is going into bonds. Now we hit a critical resistance here on the 20 year bonds. Last week and i’m looking at this so carefully because we have bond auctions coming up and then on top of that, if we breach this level close above this weekly here, 50 exponential daily 200 pretty much. And then we start to make a new high and the market hasn’t come off and it hits the key levels that we’ll be talking about through this video. Do, i think, there’s something wrong in the market? Absolutely. Will this be something we start to look at. Absolutely look at the volume the volume has been spiking there’s more transactions here. Wall street is getting ready for something later on this year, whether they started in july august or september. I do believe there will be a pullback and it’s most likely actually in the next three to five percent of market upticks. So if the market goes up, three percent it’s going to hit a lot of resistances let’s talk about that in just a few moments.
Tesla get into the stock market here, what went on with tesla uh? You know, decent bounce came off, our trend line came off. Our 630 level did bounce off. 700 remains the most interesting zone here for tesla, otherwise you’re kind of just trading. In the dark and yeah i mean what was my expectation early next week. I would love to see a 670 get hit. I do expect sellers to come in through here, because the previous support at this zone they’ll sell it off a little bit. Ideally, it breaches through goes towards 700 and then, if we get past 700 well, then i think tesla bulls can start celebrating because there’s a lot of, i call it green sky because of the money, some people call it blue sky. Above all, the way to maybe even a 780 level – so can you imagine, this comes up goes down, comes up, goes down, breaches the 700 and then bam this participation zone. I think a lot of people will be excited for including large traders on the market, so i’ll be looking for that, and this is a positive kind of at least movement here into the end of the week into the close day. Uh weekly 20 exponential it’s above it did get a week rejection off the trend line down. You know it’s as good as it’s going to get right now for tesla we’ll keep watching the space let’s talk about the market, though guys i love this dow chart.
This is looking really great when you think about it. What just happened for the dow okay, yes, it’s been higher. I understand this. However, this is the first time the daily has closed above this zone. Look at this no daily close. Suddenly we get a daily close off a little pullback it’s like having a lightning bolt shooting through resistance, and this could, as long as the banks hold up with their earnings, which hopefully they do could signal a decent level here on the dow. In fact, i think the dow would go past, something like 35 000 and maybe even start trunching on to maybe a 35 five or something look at this closure. Big bullish hammer going into the resistance highest closure ever on weekly record and that’s, just uh, the phenomenal stuff, so you’ve got a big range and now all of a sudden you know maybe a movement towards the next level. 35K, i’m likely to be a big resistance for the dow, just because it’s already once reached that level and with this kind of bullish exposure. If we get the follow through early next week – and we see that little bit of an uptick, you guys can see what this is leading up to it’s. Definitely looking great speaking of looking great take a look at this fang two hour chart the two hour 20. As we discussed on the live stream, as we’ve talked about in the channel here, is just phenomenal.
Look at how many times this thing has purchased off and we’ll be looking for that to continue to hold the trend. Remember we know when trends are over and the bear goggles need to be put on by looking for the sequence of lot peak trough, lower peak and then, of course, a lava trough going through the 50 exponential i’ll be looking for this. This is the type of thing that i’ll be looking for to see further selling from the fang, maybe down to 4900, but at this stage there is no reason to think that their bears are in control at all of this market and the fang stocks are just Going from strength to strength to strength, i noticed even the articles are starting to go. Oh buy big tech. You know that means there’s not much left when they start telling us about it, but we were there earlier we’ve been talking about it from the technical perspective and it’s. Definitely one of the reasons why i think technicals and fundamentals can be brought together to make some amazing results, because when those technical breaks happened on apple on amazon, on other big tech, we were there. We were there for the hyper stocks – bio et cetera, and i hope some of you have at least had some good success through some of those let’s talk about the qqq here. So this is, of course, the nasdaq. It does look pretty strong. It hit our first resistance last week sold off that zone.
We have a target and that target is to hit the top end range and you’ll notice that’s going to be somewhere around like a maybe a 360 370 zone here on the qqq. It does look very, very strong. It hasn’t come back to the daily 20 for quite some time, but if we go down to something like a four hour, yeah, not bad. Look at this four hour, 20 exponential. Another fantastic pick up here on the markets and we’ve been talking about these moving averages, specifically the s p 500, and how great the pullbacks have been to these little areas if you’re a day trader, let’s move over to a sector of interest. This week we talked about earnings, we talked about the financials and what better sector to look at than xlf. We know where it all goes down the fight 37. Do i expect it to reach that before some of the key earnings yeah? Why not? Of course, it should go to a key resistance or support before the announcements and as we see the banks come through if we breach this level. Where will the banks go 38, possibly even new highs, and that will be what the trough the peak the higher trough and then the higher peak, a nice lightning bolt to set up for some further bullish momentum in xlf, now it’s no secret. I don’t like this sector right now and i don’t think it’s the most fantastic thing, but you can’t argue with the technicals and the technicals basically say you can’t be a dirty bear until 35 25.
This is the level resistances supports. We definitely were weakening us. Our positions here we were talking about it. We were talking about the break here going down to here. I think we’re very correct about this so far, but with financials. This is not a chart that i would be going against at this point. You go to the weekly big rejection candle off the 20 exponential moving average. We always target the 20. The mean reversion, you close under the 20. You got problems, let’s go back down to the 50 at that stage, but we can’t say that’s going to happen. At least from a technical perspective until we get these closure breakouts, these closure moves so it’s all on earnings this week, but xlf will be one that’s in the spotlight. That means iwm will also be in the spotlight fantastic closure here on the friday session. It’S going to be one of those ones that tries to make it back to the resistance 61 234 level if it breaches this we’ve spoken about how big a channel range. This is for iwm, and this would uh you know, maybe even pose a threat for saying, hey, we shouldn’t be just going bullish in july. We could potentially needing to be going bullish in august as well, because imagine if we had to go this range closure above here activates the channel that activates a serious take profit here on iwm russell. So we’ll continue to watch this one it’s all very, very interesting.
Right now and how things can flick like that yeah, it can all happen incredibly quickly. Let’S look at the u.s 500, probably the most important of the indices for the week and just in general, daily 20 exponential held up new all time. High amazing stuff community trend line still not hit, which is the line that we’ve been using now together for so many months on this channel to predict the top of markets and uh yeah there’s still percentage here. If we actually scroll it out and think about how much percentage is left even at a fairly fast rate, that’s about 2.62 let’s, say meanders up there, a little bit slower, that’s three percent across the market before we even hit the top end of the range and That’S, assuming we go up almost vertically from here so there’s a lot of great stuff going through this market right now from a technical perspective, with bonds down us 10 year, basically hovering or at least recovering a little bit and all time highs here from closure perspective. On dao s, p and, of course, the nasdaq hopefully coming up what’s, not to love about the bulls side. We need to be cautiously optimistic, though, and, as i’ve said time and time again, it’s when you least expected that the market will get smashed and that usually happens straight after earnings, because people lose interest at that point. After getting those sugar, rushes we’ll be watching earnings season remember to subscribe for that guys and we’ll finish up here with bitcoin in the news.
Basically, bitcoin uh it’s, lackluster isn’t it series of lower highs coming through on the daily let’s, have a look at the four hour yeah. You know what it’s so tough on the technicals right now and i’ve mentioned it several times i’m, just looking at weekly closes and this 50 exponential moving average. We, of course, have about a little bit less than 24 hours till this thing will close now, and i would like to see it above, like a 33 8. Something like that. I think that this is too close to tell if you’re wondering where the big bears really start winning out any weekly down here. Closure, wise yeah i’m, not convinced that there’s anything good here in the market – and this is the only chart that i’m really looking at on the markets. I mean it’s, it has to be the weekly weekly, close that’s what’s up. You know you can see all the buy rejections. You can see how the bulls continue to maintain it here and if the bears continue to add to their shorts, because you can see the shorts are starting to rise here. Take a look at these shorts rising through then i’m, not convinced that that this is even accumulation ready for a new movement in bitcoin. We could be looking at another leg down to the 20 000 or worse um it’s tough times in the crypto market. There’S. No doubt tough, tough, tough at this stage, let’s move through to the news what’s going on here with the news for the week.
The biggest probably story – i guess at the moment – is the papa pal papa pal coming out on wednesday you’ll notice. Here he is testifying. 12 p.m. New york, time fed chairpower will testify and have a chat about how great the economy is. We will use all the tools papa pal. We will talk about talk about tapering, you use some kind of word jumble or what do they call it? Like word? Salad, it won’t make any sense, and at the end of it everyone will just be confused, but ultimately the fed is probably not going to do anything at this stage. The numbers are good, but they’re not good enough for the fed to do anything, at least in my opinion. What do you guys think in the comments down below? Let me know, and we look forward to live streaming throughout the week. Remember, join us one and a half hours before new york session. We will look forward to having you there and it’s going to be a great monday open bye for now.