SPX Drops as Expected, While Individual Names Outperform
In last Saturday's Weekly Compass, I anticipated a high probability of a bearish reversal in the $S&P 500(.SPX)$ and a decline in the Dow Jones ETF ( $SPDR Dow Jones Industrial Average ETF Trust(DIA)$ ), alongside bullish moves for $SpaceX(SPCX)$ $Broadcom(AVGO)$, and $Advanced Micro Devices(AMD)$ , plus a spike in $iPath Series B S&P 500 VIX Short-Term Futures ETN(VXX)$ .
Today, those setups played out as expected: SPX (-0.58%), DIA (-1.1% reaching $528 🎯), SPCX (+3.7% to $154.1 🎯), AVGO (+2.9% touching 372.9 🎯), AMD (+5.9% crossing $503 as bullish target 🎯), and VXX (+1.5% 🎯).
The market is highly dynamic, being bearish on the SPX doesn’t mean that every single ticker in the stock market will fall, every ticker follows its own setup, providing both bullish and bearish opportunities, and that neutrality is what I analyze having a watchlist with indices, futures, megacaps, and high volume ETFs that cover different sectors.
Today, we will review the Setups Blueprint that is published each Saturday and do a recap on how to best utilize it, including the price levels modeled in advance every Friday for the week ahead, and used to set targets, as the ones mentioned above.
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