SPY and QQQ Plunge at Resistance: What’s Next?

www.investing.com/analysis/spy-and-qqq-plunge-at-resistance-whats-next-200641339

By Deron Wagner | Aug 28, 2023 04:04AM ET

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The S&P 500 and Nasdaq sold off sharply after running into menacing, new resistance of their 50-day moving averages. In this video, we analyze the market’s recent shift to see where stocks may be headed next.

We’re back with another powerful swing trading video, where we bring you actionable insights to Trade With Confidence.

In our last video, we hit the bullseye! We accurately predicted the bearish reversal at the 50-day MA resistance of the S&P 500 and Nasdaq. The markets unfolded just as we anticipated, with both indexes taking a plunge after hitting that crucial 50-day MA resistance level.

In this episode, we dive deep into the recent market twists, examining the key support and resistance levels of major indices. Consider us your trusted guide through this complex landscape, helping you navigate where stocks may be headed next.

We also put Celsius ($CELH) under the spotlight once again. Remember how we highlighted the potential buy point last week? Well, it retraced to our MTG buy point, then surged back to its all-time high. That’s some impressive trading action right there!

And there’s more on our radar. Say hello to Remitly ($RELY), a top relative strength stock we’re closely watching for a potential pullback swing entry in the near future.

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SPY and QQQ Plunge at Resistance: What’s Next?

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