TSLA
Tesla
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NVIDIA
-- 139.310 PLTR
Palantir
-- 72.510 SMCI
Super Micro Computer
-- 38.290 RGTI
Rigetti Computing
-- 7.3800 
SPY Quickfire analysis
Hi everyone! Here’s today’s quickfire analysis: $SPDR S&P 500 ETF (SPY.US)$ Follow my discord group for more. Wall Street Warriors
On the daily chart, consider that SPY has been in a rising wedge for several months now, excluding the island bottom false breakdown in early-Nov. The wedge broke down in mid-Nov, and we have since been grinding higher in a smaller rising wedge pattern (in orange) that can be seen on the 4h timeframe below:
The pattern has since broken down, and we can see the 4h Stochastic crossing over to the downside. Prior support sits at 600.86, which we have yet to test from above since we broke above this level several trading sessions ago. A breakdown below this level will spark a larger selloff. Invalidation of shorts occurs when SPY breaks above and turns 603.35 into support. Below that level, the risk-to-reward of puts is better than calls.
From current levels, I see the possibility of a move back into the 560s region and filling the US Election gap. Play it as you see fit.
From current levels, I see the possibility of a move back into the 560s region and filling the US Election gap. Play it as you see fit.
If you see the bigger picture, a close at lows or below 603.35 is likely to trigger a triple bearish divergence setup on SPY’s weekly chart, setting it up for significant downside going into the rest of December. I urge caution going long, despite the numerous bullish charts available to us.
Follow my discord group for more. Wall Street Warriors
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