The Market Is Sending a Warning — Key Levels You Need to Know!

[00:00:00] Speaker 1: Hi, this is Kerry Artak with Wicked Stocks, bringing you your Wicked Market Leaders for the week of Monday, June 22nd, 2026. Let's jump into the charts, start with Microsoft Corporation. We've been in a sell signal now for three weeks, back below this longer-term structure three weeks ago, and at the same time below this rising, I'm going to call this a near to mid-term structure, 413.38 to 420.80 is your short sale opportunity, if given the opportunity, and I don't expect to see that this week, but upward retracements into the 410s, low 420s should be considered sell opportunities on a near to mid-term basis, not only anticipating we did reach what was last week's low, 349.20, so we did dip below this November 21 high. This zone is bound to give the market trouble on a daily, weekly basis, but I do expect its violation. We did still, nonetheless, close negative on the week last week, and so bearish momentum remains intact. Following the sell signal three weeks ago, I do still anticipate this descending channel bottom at 3.17.04 and dropping weekly. If we close this week below 3.44.79, I see by the end of next week 3.17.04 and dropping. This structure spans back some. We go back to the October high of last year, so it's a nine-month channel bottom, can contain selling on a monthly, possibly quarterly basis. So if you're looking to buy Microsoft, I think 3.17.04 is a solid zone, but I say by that, day traders, three to five day, three to five week, and even two to three-month swing traders can buy 3.17.04, anticipating then upward rotation recovery, really, to this trend line, which should be channel resistant. It correlates with all this stuff. We're talking really more like 4.10s, 4.20s, 3.90s within two to three months of testing, this 3.17.04 formation. If we close below 3.17.04 in the coming weeks, expect a significant downdraft or bearish continuation to this full channel extension. We're talking really 2.20s, 2.13.43 was that October 22 low. That would be expected with a settlement below 3.17.04. But bottom line, we're still heavy, still bearish Microsoft below the 4.13.420 region, still anticipating this descending channel bottom at 3.17.04 as really like a two to three month target. Make that within two to three weeks of closing this week below 3.44.79. Meta, Meta also in a very similar sell signal three weeks ago, or four weeks ago, actually, just like Microsoft closing back below this structure. This is at 6.11.76, anticipating the sister formation, the longer term channel bottom at 4.94.63. I think I mentioned this is like a one to two month target. We're a solid really three, four weeks into that. There is this descending channel bottom at 5.27.82. I present this as a level, a solid level for day traders, three to five day, and even two to three week swing traders may consider bottom picking 5.27.82. Because from here, we could round up into the low 600 region within two or three weeks. Closing below 5.27.82, we're just another probably three to five days away from testing 4.94.63. This base, this three, four year channel bottom, able to contain selling through the rest of the year. Solid zone to buy into, not only for swing traders, but even near term investors that look at six month time horizons. 4.94.63, a big deal. Now, upside, 6.11.76. Closing above it is not an upward pivot point just yet. It's very close. There is this newly formed descending channel top based in part on last week's low. It's 6.15.20. So if you're looking for an area to sell, it really is 6.11.76 up to 6.15.20, where we could top out through July and fall away again. Even if we close above 6.15.20, we've got a two to three week rally to 6.69.46. This 6.69.46 is our significant upward pivot point through the rest of the year. We are in the clear, really, through the rest of the third quarter anyway, if over the next month or two we can close above 6.69.46. But the charts are not suggesting we're going to see this anytime soon. Really, what we're expecting is 4.94.63. Let's move on to Alphabet. Alphabet threw off a secondary sell signal last week by closing back below the 3.49 high from February of this year. We were in the bearish mode anyway, following that near key reversal high. Was that actually near, let's see, low 3.8277, close 3.8? Yeah, this was very close to a bearish engulfing pattern at that time. But we went with it as a reversal. And the market's been falling away ever since. Closing below 3.49 even last week does set up. Really, what it would have been talking about as an objective anyway, 3.13.60. We could see that this week perhaps. But I'm going to call this, within a couple of weeks now, we should see 3.13.60. This rising channel bottom, able to contain selling through the third quarter. And from here we can round back up to each of these price points in a certain amount of time. But I think round back up at least to this high of 4.08.61. In fact, let me jump to the chart that if we were to get a buy signal, I'm going to show that actually in better detail here. This descending channel top at 3.60.81 is our upward pivot point. So I know in the previous chart I've got 3.49, and that is still a valid level. We close below it. That sets up a test of that long-term channel bottom. But it is a settlement now above 3.60.81. This is a dynamic approach to trend identification, I call it. This is a moving target, really, because every time we put out a new low, we recalibrate this channel top. But right now, you should consider 3.60.81, a solid level to sell into on strength, anticipating bearish rotation from there down to this longer-term channel bottom at 3.13.60. 3.13.60 is by far more significant than that 3.16 change descending channel top I showed you. But really what I'm pointing out in that chart, and let me finish this, and I'm not going to come back to it. If we close below 3.13.60 over the next few weeks, there's a case to be made for 2.41.60 as like a one-to-two-month target. But this low here is the possible beginning of a kind of a neckline, if you will. You've got shoulder, head, and we could collapse to this low and double bottom here. So it really is stair-step. But closing below 3.13.60, I see no compelling reason to be long alphabet. As we continue through July and into August, I think within three to five weeks, 2.72.11 is likely. We could double bottom here longer term. But if we take this out, 2.41.60 does present a solid level to buy into through the rest of the year. We could come off of this former three-year channel top through the rest of the year and round up again. I don't expect any of this unless we close below 3.13.60. 3.13.60 can contain selling through the third quarter, and we can round up nicely from here. Rounding up nicely from here would be clearly indicated with a settlement this week above 3.60.81. Then I would expect new highs. I would expect a test of this 400.80 high settlement price back in May. That's probably a two- to three-week rally. And within a month or two of closing above 3.60.81, new highs and on to this newly formed rising channel top at 4.40.73. Amazon has been in a sell signal for a month now following the settlement below this descending channel bottom that is at 2.47.57. This is a solid level to sell into on strength, anticipating still bearish continuation down to 2.14. 2.14.94. 2.14.94, this former channel top level, can contain weekly, possibly monthly selling pressures. It is dropping at a pretty good pace and converging by the end of August with this much more significant one-year channel bottom at 1.96.87. So it really is, I'm just going to call it the low 200s, is an objective below 2.47.57. If tested, the 1.96.87 formation can contain selling through the rest of the year. This is investment-grade support, if you will, where we could round up through the rest of the year and onward and upward to new highs. Upside, even if we do close above 2.47.57, I'd only see, and I'm going to jump to the next chart right now, I only see a 5.8 upside Fibonacci based on last week's low at 2.58.31. I think this is our solid upward pivot point into August, September. It also correlates pretty well with this high of 2.58.60 back in November. So this is our ceiling of resistance that can contain the weekly, possibly monthly highs. And if settled above, is our reversal point into August, September. Within a couple of months of closing above 2.58.31, this low 2.90s and climbing expected, where we could top out through the rest of the year. That scenario is nowhere near to being realized. We are below 2.47.57, still expecting 2.14.94 as a one-to-two-month target. Taiwan Semiconductor, I've added this to the mix. I've had some requests. We almost put out a key reversal high last week. Let me back out of this and just show you the extent to which this stock has. Wait, that's wrong. Bear with me. Bear with me. I'm going to recreate this, create this chart. There's Taiwan Semiconductor going back to, this is about a 30-year chart. And this, where is this going? What is resistance? It's like next to impossible to determine a ceiling of resistance. There are no long-term wave counts, et cetera, et cetera. So I just wanted to make that point before I jump back into this chart. And that is to say, we put out a new all-time high last week. If we closed below the previous week's low of 4.25.20, that would have been a key reversal high likely to yield this 373.35. This is roughly a, this is about a, about a one and a half year, roughly, not quite, maybe a 14, 16-month channel bottom at 373.35. At this juncture, here's, this is really what I want to say. If you're looking to buy Taiwan Semiconductor, there is a channel bottom here at 4.27.94 that did capture last week's low. It is based in part on last week's high, actually. We closed above it, above that price point. So if we open above 4.27.94, that is an immediate support level that may contain weekly selling pressures. And from here, where can we go? The high settlement price from a couple of weeks ago, 4.62.12. You could consider that an intra-week target, but I would just get out of the way. This is a market that is just stratospheric, hyperbolic, accelerated upside. Where to buy it? I think at this juncture, it is 4.27.94, anticipating new highs, possibly within the week. If we close below 4.27.94, there is a case to be made for 4.373.35, rather, within one to three weeks. But you might want to be a little safer with 4.19.19, that is last week's low, the low of the all-time high. So here's another way of looking at this. You're bottom picking 4.27.94 as a near-term swing trader, anticipating new highs within a week or two. And then you're selling a settlement below 4.19.90, then expecting within one to three weeks, 3.73.35. This channel bottom, able to contain selling not only through July, but through the entire third quarter. We can round up to new highs from here. Yes, we'd have a significant sell signal with a settlement below 3.73.35, but I am not prepared to say exactly where that goes. For right now, oh, here we are. This is a channel top at 4.84.27. So back to that original concept, I'd mention how you've got that high settlement price at 4.62.12. If you're bottom picking 4.27.94, it is this channel top over the next week or two that you can anticipate. Visit 4.84.27 this week, next week at 4.91.75. On to Intel. Intel, lo and behold, tested this 26-year wave count that I outlined a few weeks ago. Basically, this high from 2000 minus the 2008 low, and that's the full swing, I call it. A minus B plus A takes you to 139.57. This is an equilibrium balance point for any market. Are we going to fall away from here significantly? I don't know. Let me actually talk about that right now. What I will say is I think from 139.57, that long-term wave count, we can fall to 103.81 over the next few weeks. This is a bottom picking opportunity. I'm going to say through August, given the incredible bullish nature that still exists, this sort of vertical move. So, yes, meaningful sell signal below 103.38. That's not going to happen this week, and I will cover that in future reports. But for right now, I'm going to call this a three-to-five-week or sooner objective below 139.57. And on the way down this week, we do have this former channel top, 116.47. If you're a three-to-five-day, one-to-two-week swing trader, you can take a shot at 116.47, rounding back up to 139.57. If we close below 116.47 next week, we test that 103.81 channel bottom, where once again, we can bottom out through August activity. I see our dynamic through July, really, as a two-sided framework now between 103.81 and 139.57. And if we close above 139.57, that 26-year wave count, we're looking for 167.17 within about two to three weeks. And that is nothing more than a full A-B count. That is this high from the week of May 11th, this low from the week of June 1st. You flip that on its head, A minus B plus A. And this is a level that may contain weekly buying pressures. But picking a top here is absolutely ridiculous. I will say, though, it was quite significant reaching this level last week. And I wouldn't be surprised to see this as an annual high. That's a pretty bold statement. I think it will look like an annual high, or begin to anyway, with a settlement this week, not going to happen, below 103.81. Broadcom, Broadcom set off a sell signal last week by closing back below the low of the high and at a new low settlement. We did it a few weeks ago and then sprung right back. I think this time, for real, this time anticipating 331.28. We might see that this week. I think over the next two to three weeks anyway, this channel support able to contain selling through July and through the rest of the third quarter. And from here, we can round up to new highs. Big sell signal with a settlement below 331.28. I would say expecting realistically 251.88. This within probably a month, two at the most. But until then, if you're looking for an area to buy Broadcom on a near, mid, and long-term basis, 331.28 is your level. Upside, I don't really cover the upside very well right here. I will say that if we close above last week's high, that's a no-brainer, right? Closing above 4.14.64, that black bar in the yellow square, is an upper pivot point to 4.46.67, the high settlement price that was put out about a month ago. And that's where I'm going to leave Broadcom for now. On to AMD. AMD's got this channel bottom at 4.98.97 that stems off that March low, the incredible rally. Bullish momentum remains intact above 4.98.97, anticipating upward continuation into later July. So if you're looking for a place to buy AMD, it is 4.98.97, anticipating channel resistance at 6.52.40, I'm going to say over the next three to five weeks. If we close this week above this high of 5.46.44, an area we pushed through for two weeks in a row, but haven't closed above. So closing Friday above 5.46.44 is a two to three week signal to 6.52.40, where we can top out on a monthly basis. The way I see this right now, this is our range, 4.98.97 to 6.52.40 as we continue through the month of July. Now downside, if we do close below 4.98.97, is that a significant sell signal? I think on a weekly settlement, it is. It's also below the low of the high from last week of 5.0261. And so I think you can play the 3.42.37 one to two month objective. But if you want to play it safe, once again, you can go long, play the long side of the market at or above 4.98.97. And then you're an aggressive short position player with a settlement below 4.55.13. Inside of this could be considered a no man's land of momentum activity. So if you're looking for bullish momentum and to buy this market, it is above 4.98.97. If you're looking for bearish momentum and to sell this market aggressively, it is below 4.00. And finally, Palantir. Palantir threw off a significant sell signal last week. That was early in the week. And we're almost 70% to reaching our objective. That can happen with this stock. Our objective being 95.64 and dropping weekly. So next week, it'll be 94.11, et cetera, et cetera, dropping about a point and a half a week. And this is a level that can contain selling through July. We can round up from within several weeks into the mid-120s again and fall away. I do think this was a significant sell signal, though, that may well yield the low to mid-60s. And as it turns out, this channel bottom is, by early November, dropping into that zone. So I've been outlining a potential scenario, bottoming out at 94.64 within three to five weeks, rounding back up into the mid-120s, falling away again, et cetera, et cetera. If we close back above 124.24 this week, it is, and I'll just show you the area that I'm looking for, is this 150s, 128.87. Oh, bear with me here. I'm going to go back to this chart because I did some other analysis. Yes, a neutralizer of bearish momentum if we close above 124.24, but I'd also like to see us close above 128.87, last week's high, to fully reverse the market as we move through July. So once again, closing above 128.87 does signal the low to upper 150s. This 159.52 is a newly formed descending channel top. I think this is our significant upward pivot point into August, September. We're so far off this mark right now, but what I will say is closing above 128.87 signals the 150s within two to three weeks where we can top out possibly through August activity. And that, almost hitting 20 minutes now, is all I've got for this week's Wicked Market Leaders. You have a great week.