 Hey guys, this is hydro for match rates and in this video I'm gonna be going over weekly analysis weekly overview and then take a look at the big cap tech stocks And then take a look at the best stock setting up for the upcoming week So as usual, we'll start off looking at the indices. So let's take a look at SPY first So this is the weekly chart. So two major uptrends, right? This is the first trend that has started in 2023 and then this is another steeper trend that has started recently and So far the SPY has been holding this deeper trend. So this is perfectly normal action, although we pulled back in pretty hard last week So although We pulled back in pretty hard at the trends still holding so that's fine And it would be completely normal to consolidate high enough and then see that 453 break out That 453 level is definitely a very significant level rejected here One is rejected twice three times now rejected again Try to break out last last week and then this week it failed Yeah, but 444 Is a very important support level if that breaks then we could see a bigger pullback to this other uptrend line But overall still healthy action as that uptrend line is still holding So there's a good chance that we could also see a pullback to 442 just to fill that gap Yeah, I think there's a very good chance of that happening and then we could potentially bounce from there But if we don't bounce from there, then we could see a bigger pullback to this trend line So although it's looking bearish right now It is short term bearish, but still we are definitely still in a very strong uptrend, right? So keep that in context, right? So we're a short term bearish, but long term bullish still since top ten lines We're still holding But yeah, that's pretty much it for SPY So QQQ is a little bit weaker because it's already breaking this lower or this more recent uptrend line, but It makes sense why is that happening because QQQ is just super extended right really strong here so far so a bigger pullback would make sense and Yeah, it really hasn't had much rest The last big pullback was in March So since then it hasn't had a really it had had a yeah It really had no really big pullback since then so this is perfectly normal action We had a really strong rally and how we're pulling back and some consolidation would be good here And the key support level would be that 370 so we want to make sure that level holds if that level does not hold Then we could see a bigger pullback But I also gap up a gap here to fill a 368 So there's a very good chance that I could fill that gap and then bounce but if it fails to bounce from there Then you could see a bigger pullback to this trend line But still overall Bullish action because this is the major uptrend line and as long as that holds then we are still technically in an uptrend even though short-term we are looking a little bit bearish and potentially we could see Couple months of consolidation and just tighten up and stay in that range from 382 to 370 But overall still bullish action a short-term bearish right now Now we'll take a look at some of the individual big tech stocks start off with Apple Apple had earnings last week And it dropped pretty pretty hard, right? Take a look the weekly chart. So the 181 level is a key support level So if we're gonna bounce that would be where we should bounce Apple did break this up trend and now Yeah, now it's falling pretty pretty hard, right? Take a look at the daily chart really ugly drop on Friday from earnings, but Yeah, we'll see what Apple can do if Apple fails to bounce at 181 Then next support level would be around that 172 level and if that fails to hold to then Like support level would be at the 156 level, but Yeah, I think that 172 level will hold for sure If we do break that 181 level So that gap and then bounce potentially but right now definitely short-term bearish on Apple It needs a lot of rest because it had such a powerful rally this entire year, right? So some rest and some pullback would be good here But yeah, that's pretty much it for Apple. Take a look at AMD So AMD also had earnings this week it actually gapped up I think it didn't gap up, but I had Open tired on earnings and then close below, but now it's bouncing back again So on the daily chart that once is 17 level as a clear resistance level It's actually starting to form a little flag here So very clear resistance level here, right? Every time you touch the resistance is rejected You know, it actually tried to break on Friday as well, but close below So I think potentially and he's gonna turn up here turn up here consolidate more and then they can break out in either direction But yeah, for now AMD is fine Just the it's probably just gonna consolidate for a couple more days and then you can see a potentially big break out in Either direction. Yeah, the 120 ish level is a key resistance level and the 106 107 is a key support level Next up, we'll take a look at Amazon. I'm zone actually get up on there on earnings Or the weekly chart So Amazon looks pretty good here It's been had a really nice rally, but it was a slow and controlled rally So that's good action never got to extended then a console did it console did it for a couple weeks here and I'll find a book that 137 level and It's looking pretty good here, right next the resistance level Surround that 147 level and I think we could potentially see that next week before you get continuation But since the market's bullish, I mean since the market is very short-term right now, I think We'll probably see Amazon just chopper on for a little bit But yeah, overall I've been earnings really strong gap up But close but close that pretty weak because of the market conditions But yeah, we'll see if that 136 level becomes those a port level and it bounces off that But overall good action on Amazon. Next up, we'll take a look at Google Go to the weekly chart So Google had a really nice breakout last last week and now it's consolidating here So this is perfectly healthy action as long as that 127 level holds This is perfectly healthy action for Google and the next target would be that 136 level. Oh, yeah, that's pretty much it for Google Holding up pretty well Nice stuff meta Meta also has been holding up incredibly well Really really really strong rally this entire year And now it's just consolidating it's been consolidating for the past four weeks and some more consolidation would be good But yeah, next target for meta would be that 350 level But yeah, I would really like to see more consolidation because this one just had an insane Be powerful rally. So more consolidation would be good here And that's the Microsoft So Microsoft had a pretty ugly reversal a couple weeks ago Try to break out and then failed so that 345 level was definitely a key resistance level now It's starting to break down a little bit harder Support level is around a 3.4 level. So good chance We're gonna test that this week or this upcoming week And we'll see if we can bounce off that if we don't bounce off that we can see a much bigger Pull back all the way down to three yet mine, but overall good action A short term bearish also look at that Distribution volume the last three weeks, right? That's definitely not a good sign Next up Netflix So Netflix has been consolidating for quite some time now one two three four five six and eight weeks And stuck in between the 450 and 420 range So very simple case for Netflix, right? If it breaks that 450 level then be bullish on it If it breaks that 420 support level then be bearish on it overall good action on Netflix It's just consolidating after a nice move up Next up Nvidia So Nvidia had really Nvidia's been extremely strong this entire year Now Gapped up. I think this was the Remember to the day they tried So starting to form a longer bullfight here, right? This gap up very strong. That's been It's been grinding up higher this since then right after that earnings gap up It's been grinding higher and higher and now it's making a longer bull flag here and earnings are gonna come up soon Think a 23 so a couple more weeks, but you know, we'll see if And media can continue just consolidate continue to consolidate and from the bull flag but on the weekly chart Yeah, it's just forming a bull flag here again. It's just consolidating four weeks of consolidation so far perfectly healthy action We want to see it get tighter and tighter potentially like three these three weeks of consolidation This was a very clean set up right Let's it was consolidating very tightly and then I had that clear for 30 breakout level here It's consolidating just like before but it's not tight, right? It's wider than loose So you want to see more tight action for a good risk reward set up overall Pretty good action and you want to see that 470 level breakout for an excellent go Next up, we'll take a look at Tesla So Tesla has been acting bearish ever since earnings And not a great earnings report and it tried to bounce but failed So short term downtrend naturally starting to form here For the last four weeks So we can break that trend line and very good chance that we could see a rally back up to 284 But right now it's definitely a little bit bearish and they could potentially see Move back to 247 which is a key support level, but overall not too bearish on Tesla had a very nice run Now it's consolidating here Potentially just needs a few more weeks of consolidation and tighten up and they and it can potentially break out again But yeah, overall not too bad on Tesla or not too bad action on Tesla either Now we'll take a look at how good stocks are doing. So we'll take a look here. Okay, okay? Go to the daily chart So Eric a KK had a very nice breakout from the 45 level really nice rally and I'll go extended Back in practice rally again, and I'll pull back in pretty hard right? It's been acting very volatile recently and That 45 level is a key support level. So we should bounce off there But if we don't then very good chance that we go back into this chop, right? But yeah, the 45 love was very important and we need to bounce off there Otherwise we could just go back into consolidation, but Taking a look at the weekly chart Yeah, we were forming a nice consolidation pattern here three weeks and then this week we dumped pretty hard So yeah, like I said again a 45 love was very important if we don't bounce off it and go back into this range But if we do bounce off it and we get back through that 50 level next the resistance level would be 52 All right, now we'll take a look at some of the stocks that have been acting well and Potentially get set up super next week. So GDRX had a really strong tap up here really strong volume and now it's starting to form a right now it's Has a very clear resistance level at that 9.25 level and you want to see a few more days of consolidation I'd see if it forms some sort of flag for us to take a trade off or right now it's too wide right you want to see tighten up more and then Yeah, just consolidate for a few more days and then potentially can make a big break out Taking a look at the weekly chart It says a lot of upside potential because yeah used to be like $50 before so this one could be big winner for sure Next up we'll take a look at That's why I'm So this one had a really nice gap up earnings super strong volume and it's been consolidating nicely so that 60 level that's very key if we can break that level it would be A bullish confirmation and that would be a buy signal there right now. It's forming a little bull flag here Friday wasn't great close pretty weak But yeah, we'll see if we can form a bull flag Until there for a couple more days and if it breaks that trend line or if it breaks that 60 level That would definitely be a buy signal But this stock has been acting really well all year long. Look at that trend, right? It's been one from $11 to $64 so this is a very very strong stock this year and it could potentially Look for another like up here. So hopefully Consolidate for a couple more days break that trend line 60 and that would be a very easy buy signal Now there's the look at is a vrt This one had a very strong gap up on earnings It actually had two strong gap ups on earnings. This was the first one last quarter And ever since then it's just been grinding higher and higher again. We're doing the same thing capping up And we took out the gap up highs on friday very strong action Friday was a friday was a bearish day, but the stock continued to move higher. So this is very bullish action Take a look at the weekly chart. This one's making a huge breakout on the weekly Used to have a very significant resistance level of 28 and now completely Uh Broke out of that level, right? So this is this definitely has a lot of potential and this is going into new all-time highs territory. So definitely Lot of room to the upside here But yeah, this one's acting great and I want to see it consolidate more one forms some sort of flag Definitely don't buy it here because it's getting extended You want to see is don't want to wait for some sort of consolidation Wait for some sort of flag and then this could potentially be Then set up to buy And last but not least we'll take a look at x per I want to take a look at li actually li has been extremely extremely strong And china overall has been really has been doing really well recently and li is one of definitely one of the leaders Uh for ev in china Nio is also strong, but look at where nio is compared to previous all-time highs compared to uh li right li is back to all-time highs pretty much So this one's definitely a lot stronger and this is the one that you want to be paying attention to Um, but yeah li has been acting very strong and it's a very strong He named in general Another strong china name is h. This one has been acting really really well Had a nice breakout here, right? This was the first breakout and then made a try to form flag here and then failed And then if one another flag here and then broke out and now it's forming another flag here So this one is yeah, this one trades really well forms nice flags But yeah, if we can break that trend line that could be another buy signal And this one also has a lot of potential because it's pretty beaten down used to be Had a really nice one before in 2021. So this one has a lot of potential, right? And this one potentially is just getting started. So definitely want to keep your eye on that But yeah li is definitely the strongest china stock i've seen so far and yeah, this one's ready to Make a new all-time highs, but this one's also very hard to trade because It doesn't really hasn't really offered too many opportunities this year It's just been slowly growing in higher and higher, but there have been small bull flag trades to take Like this this one's probably the nicest one And then there's another one over here But this one does trade a little bit funky, but if you take a look at the weekly chart Very clear action that this one can insanely strong Um, but yeah, that's pretty much it for this weekly video. Thank you guys for tuning in