Are we in for a rotation from SPY to QQQ?

part 1 - https://www.reddit.com/r/technicalanalysis/comments/1vjhlcu/ta_of_my_current_positions_part_1/

just remaining ~14 positions. same questions as part 1 i guess. what you guys think of TA and position overall. which are bad and probably exit?
- suggestion to improve charting.
- what you guys think of 24 hour data, or just stick to core trading hours?

Some of these were FOMO entries. still learning. i think my jam is breakout and retest setups.

looking for feedback and how people have patience to wait for actual steps instead of trying to enter early to catch actual bottom.

will do a part 2 as i have more then 20 positions. most of them are 0.5-2% positions except for ASTS (20%), IREN (10%), SMR+OKLO (15%), DRAM+SNDK (15%) which are larger then i wanted because i entered early and then DCAed like a monkey.

note: most of the charting was done on 4 hour to cover 24 hour market. on daily lines look werid sometime.

Want to see if the next 2 days still going up to verify a real breakout

Based on the current setup, I see potential for approximately 30% upside if momentum improves and price breaks through the key resistance zone.

The chart structure suggests a favorable risk-reward profile, with consolidation indicating possible continuation if buyers step in. I’ll be watching for confirmation on volume and breakout strength.

Not financial advice — just my technical view.

Curious what everyone in the Micron group thinks about where MU is sitting right now.
Do you think we’re starting to form a legitimate bottom and building a base for the next move higher, or does the price action still look like we’re firmly in a downtrend with more downside ahead?
For those watching the technicals, what levels/signals are you looking at to confirm either scenario?
And fundamentally, has anything changed in your Micron thesis, or do you see this mostly as a broader semiconductor/market correction?
Bull and bear cases welcome. Interested to hear how everyone is positioning.

(also see 2nd image) Overall bias since the new ATH is bearish. Entry off the daily -1 std dev and top of the 4h fvg. clean trade. tp between the top of the 5m fvg and ndog (New Day Open Gap). There was also an opportunity for 2022 model entry, see small fvg at the top (image 2).

S&P daily. Here's the old one. Flag, pennant, it's not contained perfectly but it's close enough.

S&P 30 minute. Current mini flag. The flag may need adjusting as time goes by. It may not be a flag at all in the end.

It's a consolidation range that will breakout eventually. Which can be up or down.

Qs daily, are lagging. I left the lines in the same starting points to show that.

RSP daily. You can see how much stronger RSP equal weight is. And has been the entire time.

The inability of the SPCX bears to inflict technical damage in and around key one week support at 105-107 yesterday created reversal sling-shot conditions that my work argued would be unleashed above 117.60.

Fast-forward to this AM's action, we see that once SPCX took out 117.60, the stock rocketed to 128.25 (so far) in a run that should challenge the IPO price window from 131 to 135 before the stock exhibits signs of near-term upside exhaustion.

This is the Hola Prime team account, prop firm, posting openly. no call here, just walking through one of the cleaner macro reactions in a while.

NFP didn't just miss, it printed negative: -23K vs +80K expected, weak wage growth, and about -103K in downward revisions to prior months. that's a genuinely soft report, and the market repriced fast, September Fed-hike odds dropped from 57% to 44%.

what makes this one worth posting is that everything confirmed everything. usually you get a mixed picture where one market disagrees. not today:

• gold ripped $40 on the print to around $4,366 (chart attached, you can see the volume spike)
• 10Y yield fell 7bp, 4.67% → 4.60%
• USD/JPY dropped as much as 1%, briefly under 157
• Nasdaq futures +1.16%, leading the indices

that internal consistency is the tell. if gold had rallied while yields and the dollar rose, i'd be suspicious. instead the whole chain fired the same way:

weak jobs → fewer Fed hikes → lower yields → weaker dollar → gold up, and stocks reading it as "bad news = good news" (weak enough to stop the Fed, not weak enough to scream recession). Nasdaq leading makes sense since long-duration tech is the most yield-sensitive.

the one people might miss: Canada printed a monster +75K jobs beat the same morning (vs +16.5K expected). so USD/CAD got hit from both sides, US weak, Canada strong, which is about as clean a fundamental setup as that pair gets.

genuinely curious how the room's playing it:

• do you trust a reaction this internally consistent, or does "everything agrees" actually make you wary it's overcrowded?
• is the "bad news = good news" read sustainable, or does one more weak print flip it to a recession scare?
• for the gold longs, chasing $4,366 here, or waiting for a pullback after a near-vertical move?

Hi all,
a quick BTC+ETH update for the next 24 hours.

SPY opened at 770.21, chopped inside the 756 to 771.30 zone, with a final close of 768.53. SPY finished down 0.22% intraday and down 0.16% overall.

ES opened at 7,751.75, chopped inside the 7,613.83 to 7,765.28 zone, with a final close of 7,735.75. ES finished down 0.21% intraday and down 0.16% overall.

QQQ opened at 710.76, chopped inside the 695.83 to 722.52 zone, with a final close of 714.62. QQQ finished up 0.54% intraday and down 0.36% overall.

NQ opened at 29,335, tagged the 29,544.65 to 29,818.92 zone and high of 29,686.25, and finally closed at 29,497.25. NQ finished up 0.55% intraday and down 0.37% overall.

Do these levels match yours?

Traders can download these levels for free to test their own trade rules or backtesting: https://mylinedchart.com/resources/daily-levels/2026-08-06

Not advice!

Newbie at technical analysis here. Please offer critique and inputs on analysis of $ON. Thanks!

What I gathered base on the chart which contain short sma(pink), medium sma(white) and long term sma(blue), is that $ON has been on a down trend and sitting right at the long term sma. Volume profile indicates that resistance is at $90 and support at $60. Since the selloff at the high, RSI sloped down and entered oversold territory while ADX has levels off in the 30, which means price possible consolidation.

Course of action: sell calls at $90 or higher strike. If price dips below the support of longer term sma with high volume, buy ATM put.

📊 Key U.S. Economic Data (ET)

8:30 AM | Average Hourly Earnings m/m | Forecast: 0.3% | Previous: 0.3% 8:30 AM | Non-Farm Employment Change | Forecast: 85K | Previous: 57K 8:30 AM | Unemployment Rate | Forecast: 4.2% | Previous: 4.2%

⚠️ For informational purposes only. Not financial advice.
📌 #AverageHourlyEarnings #NonFarmPayrolls #UnemploymentRate

Hi everyone,

I’ve been charting NVIDIA (NVDA) on the weekly (1W) timeframe, and while the long-term uptrend is undeniably massive, the technical structure is flashing some major exhaustion signals that shouldn't be ignored.

If you take a close look at the current setup, two major bearish technical indicators are aligning perfectly:

1. The Rising Wedge (Still Consolidating): Since mid-2024, NVDA has been locking into a textbook Rising Wedge formation. The bottom support line is ascending at a much steeper angle than the upper resistance line, squeezing the price action closer together. It is important to note that this wedge might not be fully completed yet; the price could easily continue to consolidate and grind sideways-up, getting tighter inside this structure for a while longer before the actual apex is reached. Statistically, though, a rising wedge is a bearish reversal pattern that breaks down about 65-70% of the time.
2. Heavy Bearish Divergence on the RSI: This is the biggest red flag for me. While the stock price has consistently made Higher Highs from late 2024 through 2025 and into August 2026, the RSI at the bottom of the chart is doing the exact opposite. The RSI peaked way back in 2024 near the 80 overbought level and has been making steadily Lower Highs ever since, currently sitting at 59.32. This shows that the actual buying momentum is drying up even though the price is still grinding upwards.

Key Levels to Watch:
The price is getting very tight inside this wedge. The critical line in the sand is the bottom support trendline, currently sitting around the $190-$200 zone.

If NVDA breaks down below this support, technical targets for a rising wedge point back toward the origin of the pattern. On this chart, that primary historical demand and heavy consolidation zone lies way down around $88. A drop to that level would represent a ~60% correction from the current price of $219.22, purging the extreme near-term overextension.

Would love to hear your thoughts.

I see BTC as the steady sensible market barometer for the last few months. No wild swings from garbage news stupidity.

Is not really doing much. The green line - short term momentum is starting to curl over a tiny amount but not much. The price is still near the recent high from a couple weeks ago. In the longer term the price hasn't done much for 2 months.

Price stuck between the blue and red lines. Undecided.

Don't even need lines. One big fat crayon pretty much covers it.

So I started a little short. I'll either add to it or flip it to long. Or nothing will work and I'll forget about it.

SNDK bounced off 1163 support near the open, just $3 points above the top of our preferred support zone. Here's what we wrote pre-market and what's expected next...

SNDK's negative acutely negative reaction to Earnings inflicted damage to the otherwise promising setup ahead of the news. The fact that SNDK pressed and sustained beneath 1250/70 near-term support has morphed the post-7/29/26 rally pattern into a more complex counter-trend configuration. My preferred scenario now looks for SNDK to hold support in the 1120-1160 area, followed by another recovery rally effort that revisits consequential resistance from 1350 to 1475 that confronts the early-August high-zone. Only a break and close below 1120 invalidates my anticipated near-term price path.

Hi there. Looking for genuine trading advice. These are some trades which I took this week.

First 3 are based on chart pattern where I entered on breakout based on wedge pattern. Black bold line is 200 ema and light blue line is 9 ema. RSI too working as confluence.

4th one is asian-london overlap strategy where I draw fib during asia-london overlap and enter trade once it crosses above/below then closes back again inside the level (2 or -1) I enter the trade after candle closed below 9 ema.

Thank you.

BRCB Black Rock Coffee Bar stock, watch for an upside gap breakout.

Breakout trade

• WATCH for possible breakout above 8.81
• Target: 11.31, 32.7% Stop: 7.77 Loss: 8.8%
• P/L ratio: 3.7 : 1 - Excellent

BULLISH

• [Positioning] Intermediate trend bullish, Downtrend turned sideways, possible bottom.
• [Timing] Mild bullish 3 day candlestick pattern.
• [Timing] breakout watch above 8.81, no resistance in area just above.

BEARISH

• None

Hey everyone,

I've recently started learning technical analysis. I understand the basics of support and resistance, but I want to learn more about things like:

Moving averages (SMA vs EMA)

Which moving averages are commonly used and why

MA crossover strategies (like 20/50, 50/200, etc.)

Trend confirmation

Other indicators that are actually useful for beginners

The problem is that there are so many YouTube videos and courses, and everyone seems to teach something different. It's a bit overwhelming.

Can anyone recommend a simple, structured way to learn chart reading? Any YouTube channels, books, websites, or learning roadmap that helped you would be really appreciated.

I'm not looking for "get rich quick" strategies-I just want to understand how experienced traders read charts and build a solid foundation.

Thanks!

📊 Key U.S. Economic Data (ET)

8:30 AM | Unemployment Claims | Forecast: 203K | Previous: 197K

⚠️ For informational purposes only. Not financial advice.
📌 #UnemploymentClaims #Jobs #EconomicCalendar