Head and shoulder breakdown in Semiconductor ETF SOXX - watching for a rebound in NVDA! QQQ SPX [Zas56hnCwze]
#SOXX broke down from a head and shoulder pattern on its daily chart with a measured target near $416 There's support near $570 and if that holds it could rebound towards $536 before breaking down further Watching #NVDA for a bullish inverse head and shoulder breakout above $213, to retest May highs near $236 #QQQ broke down from a pennant pattern on its weekly chart and the measured target is near $623 However, as per previous 48-50 das range bound consolidation periods in #SPX before breaking down from test of a key resistance level, it's possible we could continue to trade in a range for couple of more weeks during the key Technology earnings season till mid-August Post on X about 48-50 day consolidation pattern in #SPX: Chapters: 00:00 #1 Today's agenda and Chartsarefun Blog site and YouTube channel 00:54 #2 Head and shoulder breakdown in #SOXX 04:05 #3 Potential bullish inverse head and shoulder rebound in #NVDA 05:18 #4 Pennant breakdown in #QQQ 06:21 #5 Cyclical consolidation pattern in #SPX at key resistance level 08:37 #6 #SPX at key test of its rising 50-day moving average 10:39 #7 Wrap-up 👓 Checkout our previous episodes to learn more! 👾 Youtube - /@chartsarefun 📝 Blog - #SOXX, #NVDA, #QQQ, #SPX #ChartsAreFun, #StockMarket, #TechnicalAnalysis, #stockeducation, #financialmarket, #investing, #cnbc, #barrons #bearishengulfing, #shootingstar Legal Disclaimer: We are not Registered Investment Advisors and encourage our viewers to consult with their financial advisors before making investment and trading decisions. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by us at Chartsarefun or any third party service provider to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.