 Hey guys, this is hydro from x trades and in this video. We'll be going over week a weekly market analysis and then We'll see what's to come for August. So as usual we'll start off with disease. So QQQ and SPY Start off with QQQ go to the weekly chart So last week was pretty bad, right? We broke that 370 support level and that was a level that was very important There's a key resistance level here and we finally broke out two consolidation three consolidation weeks And that was perfectly normal action and then we sliced through that 370 level last week So that was pretty poor action last week, but we are trying to rebound This is Monday the next week and we are already trying to rebound so that is a good sign But how we close on this week won't matter a lot So if we can close about that 370 level that would be a very good sign If we close below then it could mean that we could potentially see a bigger pullback But yeah, the uptrend is definitely still holding so this uptrend one two three touches and potentially afford touch if we pull back more but Yeah, this uptrend is still holding so long term. Everything looks good. They recharge There's a downtrend line forming here, but we'll see if that can get taken out this week, but besides that Yeah, it still looks pretty good here Now we'll take a look at SPY Start up with the weekly chart It's the same thing with SPY the uptrend is definitely still holding so we are in a longer term uptrend still for sure This one has more touches one touch two three four Multiple touches here, but yeah, this one still has a lot more room to the downside potentially But we could just consolidate and wait for the timeline to catch up So that's yeah possible scenario, but SPY is actually holding up better It did bounce off that 444 level last week So it did come down to it and then bounced off and closed above And yeah to start off the week is also to start off for this week. It's also Um cup nicely so the SPY is actually holding up Holding up a lot better and that makes sense because the QQQ has been up a lot more this year So now SPY is just catching up enjoying some more relative strength But overall the SPY looks really healthy Our resistance at the 453 level support at the 444 level and until we break in either direction We're just going to be stuck in consolidation for some while and that's perfectly normal Since we had pretty nice runs still so yeah, that's pretty much it for the indices And now we'll take a look at big cap tech stocks Start with the NMIDI up so NMIDI had an insanely good day today Up 7% which is huge right for a big cap tech stock like in media. This is a big big move So we'll take a look at the daily chart. Actually, let me Add the moving averages So the 50 days a very Key moving average for these bigger cap tech stocks. So you want to see them bounce off them, right? So last week it's looking pretty bad. We closed quite we closed Yeah, quite a bit below the 50 day moving average By the way, this is a 50 day moving average So we closed quite below the 50 day moving average and then today on an increase in volume We were able to rally really really strong close to at the highs too And we took out that 430 resistance level again So yeah, this is really really good actually if we can just consolidate for a couple more days Form some sort of flag and then build and then yeah build a flag and then buy that That could be a good setup to buy but yeah right now in after hours It's up a few more dollars too. So yeah, this is really bullish Looks like uh investors are buying this tip for sure But yeah and media also does have earnings coming up in I think next week. So keep that In mind as well. But yeah overall and media looks really good Today was really key. We yeah, there's a good chance that we could just keep dropping lower Potentially even lose or come back to like that Gap up level. But yeah that today was definitely a Key day as we got to reclaim the 50 day moving average and we did it on big volume and overall really big move So yeah, really good action Actually, we'll take a look at netflix And you remove the moving averages So netflix is still in chop, right? If it closes below that 420 level, then we could see a bigger pullback If we break that 448 level we could see uh, um Move to the upside. But yeah, overall netflix It's acting. Okay. The chop is good here So long since it had a pretty big move up now it's just chopping. So that's perfectly normal action But yeah, overall and netflix is having a pretty good year so far And I was just consolidating its can so perfectly healthy action Next up microsoft So microsoft lost that 324 level last week, which is pretty bearish And it's been having some pretty big distribution volume the last couple weeks So that's not a good sign But if we retake that 325 level 324 325 level that could be a good sign for this If we can do that by the end of this week, that'd be a good sign And uh, yeah, that's pretty much all there is to say for microsoft There is a longer term trend line here and it's starting to break that But we'll see if we can recover that in the coming weeks But yeah, overall some consolidation here would be healthy action for microsoft Next up meta So matter had a very steep Uptrend and it broke that But let me take a look At a longer term trend line So yeah, it's holding up the longer term longer term trend line So this is still perfectly healthy action Matters actually holding up really really well didn't get back too much and it's actually forming our Ice flag here if you look at it. So it's actually really good action The 305 is a resistance level and we did close above that today. So Yeah, we'll see how it closes the week, but Overall some more weeks of consolidation tighten up a little bit more and then make a big move in either direction But yeah, matter overall looks really good Tesla the Tesla actually let's look at the daily chart That's actually gapped on pretty low today. They're opened at 235 and they actually filled this gap. So that's very good Um, it filled that gap and then bounced and closed almost very close near The close near it's high days. So that's a really good action On set. So there is a short-term trend line here for me So if we can take that out, that'd be really good action this week Or yeah, if we can take that out, that'd be very bullish and reclaim that to 48 level That would be very bullish for sure. Um, but yeah, besides that not really much to do for Tesla It's in a downtrend. So just avoid it for now until it breaks that trend Next up apple apple had a really bad bad reaction to earnings last last week and Ever since then it's basically just been like forming Um, a bottom. It's actually been bouncing off that 177 level. So that's really good action So we'll see if we can retake that 181 level if we can do that Then there's a good chance we can see a bounce back higher. But for now Um, yeah short under the 177 level and then long if it takes out the 181 level Next up amazon Amazon's holding up pretty well here Had a gap up and it didn't give back too much of its gains, which is pretty impressive Considering how with the market was the last week and actually is breaking the said downtrend So today was a very bullish day for amazon and it could be the start of the new one So we'll see how it does. But overall amazon does look really really good right now Google on the other hand also looks really really good. Um But yeah, google is uh forming Yeah, it's forming a pretty nice flag here and it's it's been consolidating for a couple weeks So yeah, google actually looks really really good here. Uh, this would definitely be a top watch for the week Um, next up amd So amd had a really nice bounce off support today The 106 107 level of what was very important and we bounced off exactly where we needed to And uh, we're back into this consolidation and we're tending up here. So my amd could Break out in a big way Very soon a couple more days consolidation would be good, but I think amd is definitely getting ready to make a move up higher Looks very good Next up We'll take a look at growth stocks here. Okay. See how those are doing so 45 was a big resistance level previously and it slides through that So this is still very bearish for error kk, but now we're back into a consolidation zone So unless that 45 level gets taken out again, and if it can do that by this week, that would be a very bullish reversal and uh, I think we could get back up to 50 pretty easily, but right now it's back in consolidation mode and I wouldn't touch it personally here. I'll just wait for that 45 reclaim But yeah, not much else to do besides that Um, now we'll take a look at some of the best stocks I've been holding up Um, so a pp has been holding up really well. Had a really nice cap up The earnings pulled back in and then closed pretty well in that in the last two days It's been rallying. So this one's definitely a top watch That's the weekly volume or I mean weekly chart. Look at the weekly volume, right? Really bullish sign and the one from nine dollars to 40 now. So off the low. So really bullish action Um, yeah, this one does have longer term resistance at that 40 level So it could definitely consolidate here for a little bit, but overall this one's definitely a top watch Next up vrt So this one's even better than app So this one had two gap up in a row from earnings and this one's consolidating very nicely clear resistance at that 36.25 ish level And uh, it's been holding up really well Despite how weak the market has been On the weekly chart, this looks like a really big breakout, right? So this one definitely has a lot of room to the upside since it's making new all-time highs So this one's definitely a top watch as well Uh, next up, let's take a look at Upwork So upwork had a really nice gap up on earnings and ever since then it's just been consolidating nicely I'm giving back too much of its gains. So it's forming a pretty nice bull side here So we'll see if it can take that out And uh, yeah, this is potentially a really nice setup for this week Um, yeah a few more disc consolidation tighten up and then potentially break out Um, next up, we'll take a look at LK and TY So this is a china name This one's been holding up really well And it's forming a really nice five pattern here. So Um, keeping that on watch. That's the weekly chart It's a really nice, uh, stage one breakout here So this was the On set So this was the stage one breakout and then it's starting to form an uptrend here pull back in now It's making another base here. So we can break out at that 32 level This could definitely have a lot of room to the upside. But yeah It did get to 50 previously in 2020 so That could be a potential target. But yeah, this one has a lot of potential in my opinion Um, okay next up, we'll take a look The last banality is actually Can Camtech so Let's take a look at the daily chart really big volume, right? It's had a really nice this had a really nice gap up on earnings and ever since then It's just been powering higher and higher and yeah, really nice Accumulation volume here. So lots of green bars here. So this is a very bullish side. But to the weekly chart Look at that volume, right? Look at the volume before and look at the volume here It's a very clear sign that institutions are loading up into the stock But this went to making a really nice cup pattern and a couple more weeks If it could pull back in a little bit more and then form some sort of handle This would be a classic cup and handle Um textbook pattern here. So watching out for that watching. Yeah keeping this on watch for that But overall a really good action Um Yeah, not much else to say so right now I'll just wait for a couple more weeks of consolidation because this one Is definitely a little bit extended on on the weekly chart. So a couple more weeks of consolidation will be a good idea But there's a good chance that I can just break out and take off immediately, but You want the best risk reward setup. So even if it does break out here, I probably won't take it I want that good risk reward setup. So some consolidation find the low risk entry. That's what I want. Um, but yeah, that's pretty much it for this week Thank you guys for tuning in