A Bullish Start to a High-Stakes Week
On Saturday, I highlighted the key support levels where last week’s selloff stalled: a long-term moving average for the $S&P 500(.SPX)$ and an annual level for the $NASDAQ 100(NDX)$ . Both lines held as support. Now, price must hold key weekly levels to maintain momentum and prove that this bullish start to the week can carry through Friday and it will not vanish as it has happened several times recently.
Risk remains elevated, the $Cboe Volatility Index(VIX)$ sits near 18 despite today’s pullback, meaning price action can easily trap both bulls and bears. That said, several setups highlighted on Saturday are moving in our favor: $Palantir Technologies Inc.(PLTR)$ kicked off the week with strength, joined by $Exxon Mobil(XOM)$ $Broadcom(AVGO)$ $Wal-Mart(WMT)$.
We also considered the likelihood of a bounce in names like $NVIDIA(NVDA)$ $iShares Russell 2000 ETF(IWM)$ $Tesla Motors(TSLA)$. For TSLA, I noted that “the next milestone is $389.2.” Price surged well beyond that today, reaching 391 for a +5.2% move.
The central question now is whether this momentum can sustain. For that reason, tomorrow’s Compass is ready with daily levels for SPX and $E-mini S&P 500 - main 2612(ESmain)$ , key megacaps reporting earnings this week ( $Microsoft(MSFT)$ $Amazon.com(AMZN)$ $Eli Lilly(LLY)$ $Visa(V)$ $Alphabet(GOOG)$), and semiconductors like NVDA and $Advanced Micro Devices(AMD)$ that showed constructive action today even as some continue working to reclaim critical levels.
The levels shared here are modeled based on price action and volume footprints, giving you a disciplined framework to anticipate where institutional algorithms will react. Research from the Bank for International Settlements (BIS) confirms that algorithmic and automated strategies drive 70% to 80%+ of total volume in U.S. and developed equity markets. The modeled levels posted here are designed around that reality as paid subscribers know.
Markets are always moving - and sometimes, the best move is knowing what works for you.
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