 Hey guys, this is hydro from x trades and in this video. I'm going to be going over The major indices and basically Yeah, we're gonna see what could happen in the coming weeks to the couple months and just yeah, just brief market analysis So let's start off with a spine QQQ. So Let's take a look at the S&P So this is the weekly chart So right now In the last couple weeks, we made a pretty big move right and then we were consolidating for two weeks in a row And that was healthy action, right? We made a big move. We were consolidating and then this week we we had a pretty clear breakdown and That's pretty there. That's not that's not a good look for both, right? So first This is clear resistance. I rejected here. We rejected here and we tried to break out and rejected once again So this four and nine level is definitely a very key level And there's also a short-term uptrend forming over here. So as long as this Uptrend holds holds are fine as long as they can bounce off this trend line But if we lose this trend line One time then there's a very good chance that we could flush a lot more So this is very this trend line is very key right now and this is the longer-term trend line, right? This one we broke a while ago and we made a big move off it when we broke it We had two two up weeks And they were pretty good moves as well And then yeah, like I said before we consolidated and now we're breaking back down But as long as this lower uptrend holds and I think we are still fine So that's what this by looks like on the weekly timeframe And yeah, the key is to bounce off this trend line and we claim this 409 level And then if that happens, there's a good chance that we could start a new uptrend and actually have like an actual rally, you know Yeah, this rally was very short. You had two good weeks and then consolidated for two weeks and then then popped back down And let me take a look at the daily chart Yeah, so like I said before this trend line is a very key. You want to make sure that we can hold on to it And yeah Here was a trend line that was forming and if we do bounce and I would also be in another Resistance level so if we bounce off this trend line, then we have to watch out for this trend line as well as this would be another resistance For the boss, so that's yeah, that's pretty much what I'm looking for on this by All right, next up. We'll take a look at QQQ So QQQQ same thing but much much deeper Much much deeper pullback initially But we broke that about five weeks ago now and when we broke it We made a very good we made a very nice rally. We had a very nice rally It's all dated for two weeks now. We're breaking down again, but we'll see what happens, right? So there is some support This is major support right 268 every time we touch that level we bounce We undercut it here and we bounced we We touched the here and then we formed hammers and then bounced so this 268 level is a key support goal for QQQ and currently we're forming Forming a little bull flag here Right Let me go down to the deal. It will be easier to look at So, yeah, this was the short-term uptrend that the QQQ was forming and It was holding that for a couple weeks and then last couple weeks. We broke it finally And now we're forming a bull flag here, right? So very strong uptrend consolidated consolidated tried to break out at the bull flag but failed But we're still in the bull flag and now we're testing the lower Lower trend line of the bull flag if we break down, there's a good chance that we could flush all the way back this 268 but before that there's also some support at this 280 level So if we break this trend line, there's a good chance we can flush very quickly to 280 And if that fails to hold and there's a good chance that we can drop all the way back down to 268 so what bulls want to see is We want to start testing this trend line right the upper trend line Start testing it and then finally break out and there's a good chance that we could power higher but yeah, so bulls want to make sure that They they hold on to this lower trend line bounce off bounce off in next week And then test this upper trend line and then break out. That'd be the ideal stereo for your bulls There is also some support on this 292 level 293 So we want to make sure that we can we we want to make sure that bulls can reclaim this as quickly as possible The longer we're under this line then the more bearish that we get And also, there's a good chance that we could just chop around for a couple of weeks to months, right? So we've already been consolidating all the way from like last April Right, so there's a good chance. We could just keep chopping around for quite some time After all we had a very big run right from 2020 to 2020 And the 2022 basically we had a two years we had two years of a very good run So there's a good chance that we could consolidate for a very long time as well So always be open to that scenario and know that it doesn't there's Just because the market is open doesn't mean you have to trade right We want to be trading when the probabilities are in your favor And that's usually when there's a bull market or when there's a clear direction, right? and right now we just don't have that so It would be very smart to be patient and just wait for this to play out Okay, now we'll go into some individual tickers. I will start off with Tesla So Tesla has been holding up extremely well for the last couple of weeks Really nice volume right look at the volume before look at the volume now very clear capitulation while you and Yeah, the most are holding up this one up really really well So while QQQ was going down this week Tesla managed to go sideways and that's a very bullish sign, right? this is a clear example of relative strength and If QQQ or if the market reverses and if tech If tech gets a rally again, then there's a very good chance that Tesla can Break out and make another leg up higher and if that happens first target would be 233 around this 230 231 level and then final target would be 313 and Yeah, so you just want to wait for this upper trend line to break that could happen as soon as early as early as next week and Yeah, we can take out this 205 level and that'd be pretty good that'd be That would be clear confirmation that it has so it's breaking out and Yeah, I think there's a good chance that Tesla can run a lot higher a lot higher here But yeah overall Tesla looks pretty good next week Now we'll take a look at and video and video had a very nice earnings report last Thursday and On Friday put in a consolidation bar Which is also bullish because the market was stepping down, but Nvidia was managed to Just put in an inside bar and hold on to this to 29 support level, which is very key so and India could break out as early as a Monday, so we're forming a little flag here another day of consolidation would be nice and then if we break out or if we break the highs of Thursday so 238 239 level and that'd be a good That'd be a good Name to go long on so yeah and video has a lot of room to the upside as well Has no resistance to a 267 so this would be a good risk reward play and you can play with the tight stop loss So this 229 level is very key if we lose that then there's a good chance that we could gap fill so Not very good risk reward play another stock that's been acting really well is Monday so this doc also had a very nice earnings report last week and Yeah, we pretty much just consolidated you pulled back here, but now we're consolidating and We're holding on to this upper trend line, and if we can break this 158 level I think there's a very good chance that we could see the next level for this stuff, but yeah right now the stock Acting very well. It's in a stage one base So it's been forming a base for almost a year now And I think this one's finally ready to go has all the Characteristics of the big one. It has the big volume has to get earnings. Oh, yeah, this one looks really good to me We'll also take a look at AI so AI is Stopped that you definitely want to be paying attention to right look at the volume, right? Look at the volume before and look at the volume the last couple weeks This one has this one has a very clear search in volume, and it's a sign that Institutions are loading up into this stuff and AI is also definitely a very clear or very clear popular theme right now So there's many eyes on this and if this one goes, there's a good chance that it could be a very very big one So definitely want to keep your eyes on this one But yeah for AI use right now. It's consolidating It's been consolidating for like two weeks now, and if we can break this upper trend line there's a good chance that it can break out and Yeah, like I said before this one has massive massive volume. So if this one breaks out, it could make a very big move Next up we'll take a look at Netflix This Netflix is Finally breaking down. It's been acting very strong the last couple months Yeah, it's always testing the upper trend line, but this week it really really flushed or it really flushed heard We first broke this lower trend line and Yeah, we basically lost support and then we gap filled and now it's been now it's around Friday just put in a consolidation bar, but If it loses this three three thirteen three fourteen level, there's a good chance that we could go a lot lower Okay, um, let's do one more stock. This is another stock. That's been on my radar That's been acting very well huge volume search from earnings report Yeah, this is nerd wallet, but it has very good Very good earnings report very nice volume. Now this one's starting to shape up here Forming a little flag It can use more consolidation Ideally it ends up it's in more consolidation than around this area we break out, but this one has been true Has been showing tremendous relative strength, right? We were forming a base and finally broke that base On that on the big earnings report and now it's been acting very well And I was just consolidating and there's a good chance that this one can get all the way back up to like 26 and yeah potentially higher but this one's been acting very well and One that you definitely want to keep your eye on But yeah, that's pretty much all I got for you guys for this week Thank you guys for tuning in and yeah, hope you guys have a great trading week next week. Thank you