State of the Market

11/17

A quick summary of what to look out for in the coming week.

$QQQ- Closed below the 21MA, won't be back in bull mode unless it reclaims, above 500 psych level, or we can find a support at the 50MA (491.40)

$SPY- Bulls saved the day on Friday with last minute end of day pump. Held the 21MA but will it hold coming into tomorrow? We lose the 21MA, most likely gap will be filled at the 50MA (576.36)

$IWM- Held the 21MA, but since this ETF is full of shitcos, this will be much easier to play to the downside if market can't find a bounce. 223.29 would be next stop (50MA). A reclaim of 232.33 would be the spot for bulls to get more active.

XLF- strong tape, held 49.56 support like a champ and stayed green on Friday. Above 50 psych level, this will get going. Below 49.56, 8MA is first support

$XLV- RFK appointed Health Secretary even tho he ate Mcdonald's last night. Remember (they only care about power, not you). Anyways, scared the shit out of $XLV investors, now sitting below the 200MA. No point in going long. Next support at 140.46 then 138.21

Notable Earnings this week: WMT 0.00%↑ NVDA 0.00%↑ TGT 0.00%↑ ZIM 0.00%↑ PANW 0.00%↑ BIDU 0.00%↑ SNOW 0.00%↑ INTU 0.00%↑ PDD 0.00%↑