We're either going to get afternoon margins calls and renewed selling, or this bounce is real.
If real, hourly SPX ich cloud reversal has 5500 target with daily not far off. Daily cloud can see resistance as high as 5575 over the next two weeks.
If no more selling off today, we might get a round of some good earnings and significant bounces in select stocks, mainly some chippers. But I'm not yet in the camp one more high is the most likely outcome in broader markets.
SMCI can get back to high $800's.
PLTR I outlined all the levels on Friday.
NVDA $120 would be first upper target.
POWL is kind of sitting on a range with still the H&S threat. Selloff was too big IMO to be something more bullish from a technical perspective. Ich cloud says $90 can happen and thats the weekly 144 EMA. Who knows.
AMD could get $160's and as high as $180's.
ARM could get back most of this drop from the high. We don't have enough candles for a weekly target, but it would be lower without a new high.
SLV has $28 daily potential.
All of this is IF we get sustained bounces.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)