To The Moon

$Alphabet(GOOG)$ $Alphabet(GOOGL)$ Looks Happy: The bearish RSI divergence (red diagonals) is matching perfectly with the required condition for a potential pullback, which in this cup with handle in formation would be a buying opportunity.The volume shelf highlighted is perfectly located to provide support for a potential healthy pullback in the coming days.ImageFor whom haven't open CBA can know more from below:🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK, US stocks as well as ETFs unlimitedly!Find out more here：Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading.

$S&P 500(.SPX)$ : Calling a technical or short lived bounce last weekend based on the oversold McClellan Oscillator was accurate. In previous cases the price has resumed the decline as the curved green arrows highlight. I will take disciplined notes if this time is different. $Apple(AAPL)$ was a key driver for the sustained bounce, the question is: Is it overbought already after a +13% weekly move?ImageFor whom haven't open CBA can know more from below:🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK, US stocks as well as ETFs unlimitedly!Find out more here：Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading.

$Amazon.com(AMZN)$ has a tendency to fill its gaps, and while it has been bouncing since Tuesday, the last two daily candles suggest indecision and a potential rejection at the 20 DMA.The bullish crossover in the oscillator is encouraging, but it does not guarantee a straight move up to overbought levels, as shown by previous premature bearish reversals (red ovals). Therefore, all eyes are on two key areas:➡️A recovery above the 20DMA is needed to consider any bullish continuation.➡️A break below the key level of $222.50 would open the door to retest recent lows.For now, a move to fill the lower gap at $194 seems unlikely.ImageFor whom haven't open CBA can know more from below:🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading

$Apple(AAPL)$ When a $3 trillion company rallies +13% in a week, the effect on the market is meaningful. Apple not only fueled the indices but also decisively recovered its 200 daily moving average.Such a powerful move has pushed the RSI above 70, indicating overbought conditions. While this suggests a period of consolidation is likely around $224, the conviction behind the rally implies a new bullish stage has begun. Any pullback in the $S&P 500(.SPX)$ and $NASDAQ 100(NDX)$ could now be mitigated by Apple's strength.Staying above the 200DMA validates this bounce, a scenario that looks very possible as price now consolidates above this key moving average.Image

Although the $S&P 500(.SPX)$ 5-wave advance suggested more time correcting or a deeper pullback, confidence in further downside has dropped with $NASDAQ 100(NDX)$ already making a new high and SPX likely to follow this week.The bullish divergence at the Aug 1 low may now serve as the swing point for the next wave up. While some sideways action is possible before breaking out, I’m not expecting much more downside — if any.The ideal buy level remains 6178, but the odds of reaching it have decreased, as the Aug 1 low may have marked the extreme of this correction (see my $Dow Jones(.DJI)$ + $iShares Russell 2000 ETF(IWM)$

The Mag 7 is currently ~35% of the $S&P 500(.SPX)$ .For those who say Big Tech can’t possibly get any bigger…Railroads were 63% of the U.S. Stock Market in 1881. $NVIDIA(NVDA)$ $Microsoft(MSFT)$ $Meta Platforms, Inc.(META)$ $Alphabet(GOOG)$ $Alphabet(GOOGL)$ $Apple(AAPL)$ $Tesla Motors(TSLA)$ $Amazon.com(AMZN)$ ImageFor whom haven't open CBA can know more from below:🏦 Open a CBA today and enjoy privileges