Technical Analysis of Stocks: SPY / QQQ / NVDA / TSLA / AMD / PLTR

[00:00:00] Speaker 1: Today we see another extremely dangerous, bearish reaction, and I know what you're gonna say. Ah, but Nathan, today we are going up, right? The SPI is going up at least 0.02%, so that's not that terrible, right? Well, it is. Why? Because we are losing momentum right below the 21-day EMA, which is now acting as a resistance level, by the way. What's more, we failed to close above the 741. This key point was a previous multiple support level, here, here, here, here, here, and here again. Now this key point is working as a technical resistance level, following the principle of polarity in technical analysis. Previous support levels working as future resistance levels. So we are failing miserably to break a double resistance level up here. And we are making a very dangerous, bearish candlestick pattern, which to me is another clear top signal. So it is not an easy situation for the SPI. Of course, we can always find good opportunities in this market. However, guys, now the situation is extremely complex. So let's see what's going on, how to react accordingly, and of course, how to proceed in this scenario. It is a challenging moment. However, if you work using a clear strategy, you will survive. And possibly, you can still make some money even in this condition. My name is Nathan. Welcome to the Finance Hydra channel. We are here every single day analyzing the stock market together. Now we see the SPI making a very dangerous bearish candle. Reinforcing the bearish case because so far we have seen nothing but lower highs, lower lows, below resistance levels. Every single time we see the SPI reaching a technical resistance level, we see it losing momentum and then losing support levels. And that's precisely what's happening today. So if you ask me, if we see the SPI on the next couple of days losing momentum, losing today's low again, we are going to technically trigger another top signal, reinforcing the bearish case all the way down to the next support area, which is between the 731 and 725. Unless we see tomorrow a miraculous, insanely bullish candle proving this chart wrong. Okay. Then I see the SPI making a possible bottom signal, which could frustrate this bearish sentiment over here. As long as we don't see that happening, guys, remember, trading is reactive, not predictive. No tool can help you to predict the future. You may try to use technical analysis, all of its indicators. You can use tape reading, algo trading, fundamental analysis, etc. It's no use. Nothing can help you to predict the future. No one can predict the future. No one. Therefore, we can react accordingly using the inflection points I reveal to you guys every single day in this channel. So to me, these are the key points. Today's low and the 21-day MA. If we see the SPI breaking this 21-day MA, making a very powerful bullish candle, okay, possible frustration of this bearish bias, and then we are going to again reverse this chart. That's not going to be easy. We got to see the SPI making a miraculous reaction to do that. So if you ask me, odds are that we are going to continue this bearish bias all the way down to the next double support level again, between 731 and 725. The SPI is not as bearish as the QQQ, which is in a more dramatic scenario. We have been warning you guys about this symmetrical triangle chart pattern on the QQQ, and after losing this pattern support level, I told you guys, guys, now we are supposed to seek lower levels. We are making a pullback on the weekly chart, retesting the 21-weekly moving average. So if we are going to react, well, now the timing couldn't be better. However, we got to see a clear reaction. And so far, there is not even a single bullish candle over here. There is not even a single technical evidence suggesting that we may see the SPI, the QQQ, recovering from here. Maybe tomorrow and again tomorrow, I'll be here as well, right? But however, for now, as of today, there is not even a single bullish reaction. If we take a look at NVIDIA, we see this one collapsing 5% today, right? I know in the post market, we are going up a little bit, right? But guys, it can't deny this insanely bearish candle. We are losing momentum, and we are losing our double support level. I told you guys, we have a double support level over here, near the 206, near the 21-day MA. We are losing the support level in one single candle. And right now, we are retesting our next support level, which I told you guys last week as well. I told you guys, guys, by rejecting this candle over here, this candle from July 22, if we see NVIDIA losing this candle's low, we are going to retest the 196 area. I told you guys this last Friday, actually, okay, on our previous video. And right now, that's precisely what we see NVIDIA materializing. After rejecting this candle, we are losing support levels, and right now, we are retesting our next support level. With an astonishing precision, by the way, because we are kind of stable in this area right now. So, technical target was hit. Now, if you ask me, it could be a good moment for NVIDIA to react, of course. Now, that we are back to a support level, that would be just perfect. However, that's not happening yet. What's more, on the weekly chart, we could even lose this 21 weekly moving on average support level. And the 196, the 197 support level is a technical double top chart pattern over here. By materializing this double top, NVIDIA would totally reject our previous idea of an inverted head and shoulders, which we have been describing in this channel over the past few weeks. I have been warning you guys, guys, if we see a true breakout of the 213.99, we may see NVIDIA reaching the ultimate high again. All right? However, NVIDIA failed to do such breakout. We are still losing momentum. We are still looking very weak. And right now, we are heading towards our next support level. I mean, we are at our next support level, which is the 196. Nathan, what if we see the loss of this 196? Then, we have a very interesting target at 189.66, which is an open gap over here. An open gap from April 13 this year, right? April 14, actually. So, by closing this gap, we're going to have another technical support level for NVIDIA. Because this reaction over here could not close our gap. This candle's low was 189.80. Okay? The gap is at 189.66. So, we almost closed our gap over here. I gave you a buy signal on NVIDIA, by the way, on our Telegram channel down here. We sold at 214.00, all right? So, our target was insanely specific, okay? So, we bought down here and then we sold over here. Now that we are going down, now that we are going down and we are waiting for another clear opportunity, maybe, maybe NVIDIA will give another buying signal. It could be here or maybe it could be down here after actually closing our gap. If we see that happening, of course, we're going to buy down here and sell up here again, as we always do. So, join our Telegram channel, by the way. Because there, I give signals in real time, firsthand. There, we are skiing in the game. There, you're going to actually trade with us. We have a community of more than 200 traders. So, you are welcome to join us over there. There, we can finally teach you how to trade professionally, using technique, using strategy. So, the link is in this video's description. Take a look over there. See if you like our service. Free trial, seven days. No strings attached, okay? Just for you to see how we work and then you decide if you want to truly stay with us or not. That's why I offer a free trial because I am extremely confident in our competency reading charts, okay? And how competent we are at reading charts. Now, okay. So, NVIDIA hit our target. We sold up here. Now, we are liquid. Now, we are sideways, waiting for another signal. Do we see another signal? No. We see just another insanely bearish candle. If we see tomorrow or in the next few days, great. Maybe even the SPY or the QQQ could recover as well, right? But again, that's not the case. Real trading is reactive, not predictive. For now, there is nothing to react over here. We are just collapsing, right? So, let's wait for another signal. Tesla is on the very same boat over here because it is just collapsing. After I saw Tesla collapsing after earnings, I saw many people saying, ask me, Nathan, should we buy Tesla? We are near the 338 support level, right? And this key point was a very nice support level, by the way. It was a gap support level. It did work very nicely over here, right? In April this year, where, by the way, we also bought Tesla down here and then we sold up here, okay? We did a phenomenal trade after buying near this gap support and then Tesla hit the support level again, right? However, I told you guys, guys, please, please always wait for a technical reaction. And then, in the following day, we saw Tesla collapsing, losing the 325 support level. And then, we had the same, right? People ask me, Nathan, should we buy Tesla? Should we buy? No, let's wait for a technical reaction. Ah, but that's too annoying. Okay, so you can buy. Go for it, all right? Do not wait for my blessing over here. You can buy. Just remember, set a stop loss and set a target before you place the trade. Trade professionally. Don't buy because you think it could go up. Don't buy because it already collapsed too much, okay? Don't buy because it can't go down from here. No, it always can, okay? There is no such thing as it already collapsed too much, okay? There is no such thing. Our stocks can always, always collapse more. So, guys, for now, once again, if you ask me, no, there is no clear bottom signal in Tesla again, right? If we see, great, possibly I'm going to share this signal on our Telegram channel as well as we always do, right? We bought Tesla here. We sold over here. We bought over here again. We sold over here again. However, since then, we could not trade Tesla properly because we simply lacked a clear trading signal over here, okay? So, our strategy requires that we should wait for a clear opportunity. And, of course, if the risk-reward ratio makes sense, then, okay, then we trade, right? If it does not make sense, we never trade. So, we got to see a crystal clear, meaningful bullish reaction and then confirming a bottom signal. And then, if the risk-reward ratio makes sense, then we trade. That's annoying. Many people don't have the patience. Simply can't wait for our signals to materialize. And that's okay. I know. My style is not for everybody. But, guys, my style is more for those who like to avoid traps in the market. And we did avoid countless, countless bull traps, bear traps in this market together, in this market together, just by following our trading philosophy, okay? I prefer to miss an opportunity than to lose money. I prefer to avoid traps than trying to catch a falling knife. That's how I like to work, okay? If my style suits you, remember, join our Telegram channel. But, for now, all I can say is that Tesla is not for me, okay? As far as I know, we are heading towards the next support level, near the 297. That's where I see Tesla next. Now, we have Lady Amy, AMD, right? You guys say that I say AMD. I can't pronounce AMD correctly for some reason, right? But, well, I'm going to join the party, okay? Let's say AMD forever. AMD forever is now going down as well, like many other stocks. Why? Because, guys, this sell-off, to me, is respecting the idea of a congestion, okay? Every single time we reach our technical resistance area, we see another downfall. Every single time we reach our support level, we see a recovery. So, now, Lady Amy forever is going down to the 464, okay? If we see... Nathan, what if we see a clear bullish reaction near the 464? Amazing. Possibly another buying opportunity. You buy here to sell here, okay? That's how I see Lady Amy forever right here. But, Nathan, what if we see Lady Amy breaking this line over here, the 546 area? By breaking the resistance area of this congestion, I see Lady Amy back to the 600s, okay? Easily going back... I'm so sorry. I said back, right? Lady Amy was never at 600s, okay? I'm so sorry. It could easily reach, for the first time, the 600s, okay? That's what I mean, all right? So, we could easily get there. Because, guys, the momentum is still very powerful. On the weekly chart, we are still very bullish. If you ask me, ideally, we would see a more pronounced sideways correction, okay? Waiting for this 21-day MA to reach the price. That would be the ideal, okay? That situation, this such situation would make me way more comfortable in buying AMD over here after reaching our 21-day MA, right? Like we did over here, okay? I gave you guys two signals near the 200s, while AMD was down here near the 21-weekly moving average, all right? Two signals on our Telegram channel, right? So, guys, for now, for now... Oh, by the way, we saw a kind of rounded bottom as well, right? So, that was the perfect moment to buy Lady Amy. Now, it feels to me that we deserve a better correction, okay? But if you say to me, but Nathan, for swing trading purposes, it is totally plausible to buy AMD near the 4.64 to sell near the 5.46. Yes, it is. But you can't count on a clear breakout of this key point just yet, okay? To me, once again, to me, right? In my humble opinion, we deserve a better pullback on a weekly basis. And that would be very good for AMD, because then we may see many other signals being triggered, many other buying opportunities near the support level after a better correction over here before another rally, possibly to break the 600s, okay? So, that's how I see AMD right now, because I'm always afraid of our stocks, of when our stocks, they look too euphoric, okay? So, I prefer to see healthy pullbacks, sometimes a sideways correction, just to cool down this insanely crazy rally over here, and then we see how to proceed, okay? But for now, guys, there's nothing to worry. Although we are collapsing, we are just getting back to the 4.64 area again, which is our next technical support level. Dabba, Nathan, what if we see AMD losing the 4.64? Okay, 400s will be our next technical support level, period, okay? And then we have Palantir going up 7, 7% today, earnings in 7 days, so 7, 7. Now, guys, if you ask me, on a weekly basis, Palantir is still very bearish, okay? The 21 weekly moving average is working as a consistently dangerous resistance level for Palantir since January this year, right? So, we can't break this key point. However, Palantir could materialize a possible inverted head and shoulders, okay? I know it looks like a NVIDIA by making a second shoulder, right? We see NVIDIA over here, shoulder, right? Head, and then shoulder, and then another shoulder, right? So, I know we see the very same pattern over here. However, Palantir is reacting already. It is making a bullish reaction above the 1.22 support level, which I told you guys last Friday, guys. If we see the loss of the 1.22, it's over, okay? 1.05 will be our next support level. So, it is not a coincidence to see Palantir flying, reacting right after reaching this support level because it is a technical inflection point. Guys, our inflection points, they work, they really, really work more often than not, okay? So, that's why I always ask you to pay attention to the numbers that I explain on every single video. Every single day, we are here revealing our inflection points. They are not here by chance, right? No. They have a... Every single one of them have a psychological meaning. You got to understand this. Technical analysis is the psychological reading of the market. It is not about forecasting the future. It is not about trying to predict. It is not about necessarily memorizing a lot of patterns. No. It's about understanding the psychological moment the market is right now. That's why we use technical analysis. That's why. That's how technical analysis was designed roughly 250 years ago by a samurai trader in Feldau, Japan, okay? So, that's why we are here every single day teaching you guys how the technique works on its very, very core, on its very soul. So, that's why we are here, okay? And guys, reacting above the 122. Amazing. Amazing. Now, we are heading towards the 136, period. If we see a clear breakout of the 136, amazing. Then, Palantir will convince me. Then, this chart will convince me that we're going to have a chance of retesting the next resistance level near the 160s, okay? For now, let's wait for a clear breakout. We are still in a congestion, okay? Between the 136, between the 122. Only a meaningful breakout could bring something new. Regardless, if we're going to see an upwards or a downwards breakout again. But guys, it all depends on the next direction. Of course, I'm going to pay attention to these key points. And I will be here every single day, keeping you updated on this channel. So, if you are still watching this video for 20 minutes and you're not a subscriber, it is too late for you. Subscribe. You do like technical analysis. You liked this channel. So, come on. Subscribe and click on the like button to support me as well. Join our Telegram channel. The link is in this video description. And follow me on Instagram to keep in touch with my daily life here in Brazil. Thank you so much for your audience, my dear friends. Stay safe. See you tomorrow as usual. Bye-bye.