The Bull Case Just Got Stronger — Hyperscaler Blowouts, 200-Day MA Setups & the TNX Wedge To Watch [fL7ywtnrPQp]
FOMC held rates steady but 9-3 vote got market nervous for a rate hike in September from the 3 dissenters looking for a 25 bps increase of Fed Funds rate #TNX broke above a key pennant pattern on its weekly chart measuring to a target above 6% However, #TNX daily chart shows a potential rising wedge pattern where a breakdown in 10-year Treasury yields would be bullish for the market Blowout earnings from hyperscalers #MSFT and #AMZN lead to bullish double bottom reversal patterns with upside towards $586 and $292 respectively #SOXX head and shoulder breakdown target is near $416 but it reversed from test of key support near $464 (April 2026 high) #SOXX ended the week with a bearish black filled candle reversing off the top trendline of a declining channel on its daily chart #QQQ weekly chart shows a descending triangle breakdown below $685 that measures to $623, but it reversed and closed the week higher with a bullish hammer reversal candle with strong volume #QQQ daily chart shows a falling wedge pattern like in Jan-Mar 2026 and could break below temporarily to test its rising 200-day MA near $643 or decline further towards key support of double top at $635 from October 2025 and January 2026 or further to descending triangle breakdown target at $623 Technical indicators #NASI indicates some more downside possible timing with another breakdown of the market next week though #BPNDX confirmed a bullish reversal of the market climbing higher highs through the weak after bottoming last Friday, though QQQ printed a lower low on Wednesday at $661 Chapters: 00:00 #1 Today's agenda and Chartsarefun Blog site and YouTube channel 00:39 #2 Pennant breakout in #TNX weekly chart but rising wedge pattern with negative divergence in daily chart 06:40 #3 Double bottom reversal in #MSFT 07:56 #4 Double bottom reversal in #AMZN 09:37 #5 #SOXX head and shoulder and declining channel patterns 12:02 #6 #QQQ descending triangle and falling wedge patterns 16:04 #7 Technical indicators #NASI and #BPNDX 18:30 #8 Wrap-up 👓 Checkout our previous episodes to learn more! 👾 Youtube - /@chartsarefun 📝 Blog - #TNX #MSFT #AMZN #SOXX #QQQ #NASI #BPNDX #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.