SPX, QQQ & NVDA - The bounce was expected

SmartReversals
01-29

1. $.SPX(.SPX)$

SPX - The bounce was expected, and it seems reliable, anyway managing risk is key. Tomorrow we will learn if the latest indecision candle at 4H will be followed by a pullback, or the momentum is back. $6,029 on watch๐Ÿ‘€

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2. $Invesco QQQ(QQQ)$

QQQ - As mentioned yesterday, gaps near overbought levels tend to be filled, and this has now been confirmed.

The 20DMA has been breached, and the Stochastic is just beginning its move. The current candle doesn't suggest a bullish reversal; any potential bounce must reclaim the 20 DMA. As it stands, the Q's are facing significant downside pressure. $500 coming?

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3. $NVIDIA(NVDA)$

NVDA - Bounce at the lower Bollinger band. Usually reliable as highlighted in the chart. The week is still young, but a close like this one would be bullish.

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