What HJTrades said in this video:
- QQQbullishshort-termThe QQQ pullback is a normal post-breakout retest. The host expects the 732–742 area to be the low, with a rebound starting tomorrow and a rally toward 785 within the 30-day window around November 2.Source
- SPYbullishshort-termSPY remains right next to all-time highs, only about three points away. A break above 779.37 should push it back toward highs, while 775.30 is the neckline support to hold.Source
- Market Breadthpositive for stocksDespite commentary about horrendous breadth, the host looks at the equal-weight index and concludes breadth is not bad, rejecting the crash narrative and implying the market is healthier than claimed.Source
- OtherneutralSemiconductor and chip stocks are the weak link in the market right now and have been since the pullback from highs; they need to turn around for QQQ to move higher.Source
- RSPbullishRSP represents the rest of the market. If it rallies alongside the mega-caps, the host assumes the overall market will move higher; he is watching its daily cloud to confirm the rally kickoff.Source
- AAPLbullishshort-termApple is consolidating between the 21-day EMA and all-time highs, and the monthly is tightening, suggesting an expansion. A move above 345 targets 355–360, and the host expects the move to begin this week.Source
- MSFTbullishMicrosoft broke out above 535.69 and closed near highs, within 15 points of all-time highs. The host expects it to keep grinding higher with dips bought, and says the trend is up and shouldn't be bet against.Source