This Still Needs to Break...

Why It Matters

These technical thresholds help investors time short‑term positions, and sustained semiconductor demand may prevent a broader market sell‑off.

Key Takeaways

• Semiconductor demand stays robust, preventing major market downside
• SPY hovers at 686 midpoint, indicating neutral market stance
• Bearish scenario requires break below 684.15 support level
• Bullish outlook needs hold above 689.75 and retake 20‑day SMA
• QQQ charts display lower highs, reinforcing bearish momentum

Summary

The video centers on a mid‑week technical outlook for the equity market, focusing on the SPY index, the Nasdaq‑100 (QQQ), and the semiconductor sector’s role as a potential downside catalyst.

Matt notes that SPY is trading at the 686 midpoint of its balance range, with the daily 20‑day SMA rejecting near the upper wick. An hourly higher low above 689.75 would favor bulls, while a break below 684.15 could trigger a bearish flag and push the market toward the range low at 676.5. Anchored VWAP, volume‑flow, and market‑profile single prints suggest limited buying pressure despite recent upticks.

He cites Meta’s multi‑year purchase of millions of NVIDIA chips as evidence that semiconductor demand remains strong, muting the feared “semis break.” Notable analogies include the “empty‑net goal” for bears and the observation that “shorts aren’t nervous, longs might be.”

The analysis implies that traders should monitor the 684.15 support for a potential downside breakout and the 689.75 resistance for a bullish continuation, while keeping an eye on semiconductor news that could shift sentiment. QQQ’s lower‑high pattern reinforces a bearish bias on the tech‑heavy index.

Original Description

🎙️ | Live Squawk (Intra-Day Voice Chat): https://tradebrigade.co/live-squawk

🧠 | Technical Analysis Course: https://tradebrigade.co/learn/

📜 | Trading Scripts: https://tradebrigade.co/trading-scripts

☎️ | Book A Call: https://tradebrigade.co/1-on-1/

📝 | 20% off TradeZella (Code "TB"): https://tradebrigade.co/tradezella-yt

💰 | Gift From M1 Finance: https://tradebrigade.co/m1finance/

Free Discord: https://tradebrigade.co/discord/

Follow on 𝕏: https://x.com/TradeBrigadeCo

Join the Floor Traders: https://youtube.com/tradebrigade/join

🎶 | Trading Music: https://tradebrigade.co/music

During the Midweek Market Update we review the best stocks for options trading. We go over key levels of support and resistance and create an actionable game plan.

00:00​​​​​​​​​​​​​​ – Intro

00:50 – S&P 500 Analysis

09:45 – Nasdaq 100 Analysis

14:30 – Russell 2000 Analysis

16:55 – S&P Sector Analysis

27:00 – Fundamental Evidence

30:20 – Technical Evidence

34:30 – Core List (NVDA, AAPL, MSFT, AMZN GOOGL, AVGO, META, TSLA, JPM, PLTR, AMD, HOOD)

43:30 – Trade Ideas (LITE, CAT, MOS, RTX)

it's still a trap...

#OptionsTrading #TradeIdeas #TechnicalAnalysis

DISCLAIMER: The information provided in this video is for informational purposes only. It should not be considered financial or legal advice. I am not a Registered Investment Advisor. Buying and selling financial instruments is highly speculative and carries risk.