Careful with Luminar Technologies (LAZR) despite the monster rally today that places price right at declining resistance. Adobe (ADBE) on watch for whether it attempts to bounce off of support. Semiconductors ETF (SMH) looking like it may try pulling back to its rising trend-line. AMC Entertainment (AMC) headed towards a test of major resistance. A
Adobe (ADBE) rising trend-line is broken, and now price falls back into the Nov/Dec chop area, where price could really get churned up. Russell 2000 (IWM) breaking below long-term support and a creating a lower-low in the short-term. Looking under the Robinhood (HOOD), it still hasn't broken out of the declining trend-line and threatens short-term
CBOE Market Volatility Index (VIX) Inverse head and shoulders basing pattern forming that is worth watching for a potential breakout next week. Applied Materials (AMAT) attempting to break out of the bull flag and re-confirm the inverse head and shoulders pattern. Semiconductor ETF (SMH) testing support that if broken would confirm a short-term
$SOFI continues to base in a 10 month pattern, but can’t seem to break out above $8.30.  Â
2yr Yield continues to break higher and posed to challenge the 2022 highs. Â Â
$VIX back below key support, after falling off a cliff, post CPI. Â Â
Watch $BLDR and the potential for a bull flag breakout. Â Â
Bed Bath & Beyond (BBBY) down 67% since the highs of Monday. Significant week for CBOE Market Volatility Index (VIX) as it was finally about to breakout of the downtrend. US 10 year treasury yield (TNX) breaking out of its declining trend-line from October highs. Alibaba Group (BABA) breaking that rising trend-line. Apple
Discretionary ETF (XLY) coiling above key breakout support. Bulls will need to hold this one in the coming days, to keep control. Technology ETF (XLK) Consolidation over the last five trading sessions still has tech sector holding key support. Robinhood (HOOD) coiling just below major resistance. Airbnb (ABNB) nearing a test of significant resistance that
$GMAB with a nice rising trend-line off of the June lows, showing strong potential for a move to $45’s.  Â