Technical Analysis

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.    

2yr Yield continues to break higher and posed to challenge the 2022 highs.    

$VIX back below key support, after falling off a cliff, post CPI.    

Watch $BLDR and the potential for a bull flag breakout.    

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

$PINS attempting to hold the long-term breakout support level.    

$F right up against declining resistance.    

The stock market ripped higher following the FOMC Statement issued by Jerome Powell. The stock market soared, and from a technical analysis standpoint, the outlook looks good for stocks going forward. In this video, I provide my analysis on the SPY, QQQ and IWM ETF, as well as my outlook on the VIX index.

$BMBL pushing through the 200-day moving average and attempting to break out of its base here.