Zak Mir takes a charting look at S&P 500, Nasdaq 100, Aeries, BK, Cognition, Dogness, Inspire, Newegg, OneMedNet, RumbleOn, Sonama, TeraWulf.
I ran through the S&P 500, Nasdaq 100 and a selection of domestic stocks I’m watching right now. Below I’ve summarized the technical setups, key support and resistance levels, and my near-term targets so you can follow the trade ideas without watching the video.
Market overview
S&P 500
The S&P is looking comfortable up at fresh highs. We’re trading above the prior peak around 6,427 from late last month, which keeps the bias bullish.
- Near-term upside: 6,600 by the end of this month, with scope for 6,700 by the end of next month.
- Near-term downside: the floor of the rising trend channel around 6,350; a deeper pullback would find the 50-day line near 6,220.
- My base case: the market remains within the post‑”eight ball” rising trend channel that’s developed over recent months.
Nasdaq 100
The Nasdaq is testing the top of its channel from April. A close through the 24,000 area would open a new leg higher.
- Key thresholds: the top of that April channel (24,000); the old record high from the turn of the month (23,600) is important support.
- Upside projection: the red January resistance projection could take us toward 25,500 by the end of next month if we stay above 23,600.
- Downside risk: channel floor and the 50‑day near 22,700.
Stocks to watch
Below are the setups I covered, grouped with entry context, targets and invalidation levels. Timeframes referenced are mostly “by the end of this month” or “by the end of next month.”
Aeries Technology
- Setup: gap-up through both the 50‑ and 200‑day moving averages; trading above the 50‑day line.
- Target: top of the rising trend channel around $1.60 by the end of this month.
- Invalidation: avoid end‑of‑day closes back below the 50‑day line (roughly the mid‑$096 area).
BK Technologies
- Setup: a broadening triangle with the recent gap and short‑term support forming a launchpad.
- Trigger/resistance: clear of yesterday’s support/gap area near $53 and above June resistance at $57.
- Target: up to $70 over the rest of this month if the breakout holds.
- Invalidation: an end‑of‑day close back below $57 would be a concern.
Cognition Therapeutics
- Setup: has already exceeded an ambitious rising trend channel target ($1.55).
- Target: a fresh leg to the upper parallel of the channel, toward $2.40 by the end of this month.
- Risk management: stay on the right side of $1.50 while the setup plays out.
Dogness International
- Setup: a nice U‑shaped turnaround and a break above neckline resistance near $11.
- Target: the top of the falling trend channel around $26 as soon as the end of next month.
- Comment: this one has momentum after the reversal — watch for follow‑through on volume.
Inspire
- Setup: a sharp gap higher recently, but we’re still awaiting a decisive end‑of‑day close above the 50‑day ($1.18).
- Target: at least the old May–June support area toward $1.45 by the end of next month if it clears the 50‑day.
- Invalidation: a break back below near‑term support around the $0.90 level would undermine the bullish thesis.
Newegg Commerce
- Setup: one of the summer’s stronger performers — we’ve already hit a couple of targets.
- Progress: topped the rising trend channel base from March ($73) and hit the next target near $108.
- Target: looking for $160 by the end of next month (while staying above $108).
OneMedNet
- Setup: a rising trend channel with room to run.
- Target: an initial, modest objective at $1.30; the channel’s true top could be higher (you could argue toward $1.70), but I’m taking $1.30 as the first objective.
- Support: the old June peak around $0.90 — no end‑of‑day close back below that if the bull case is to remain intact.
- Timeframe: hoping for the move by the end of this month.
RumbleOn
- Setup: cleared main resistance in the $2.85 area.
- Target: the top of the rising trend channel — looking for a $500‑plus type objective by the end of next month (the channel target was referred to as “$5 plus”).
- Nearby obstacle: a falling 200‑day moving average sits near $3.66 that may act as resistance on the way up.
Sonoma
- Setup: a spike toward the top of the August rising trend channel (around $7.10) recently.
- Support/trigger: remain above the post‑March resistance area near $4.50; an end‑of‑day close above that level could quickly take price back toward the $7.00‑plus area by month‑end.
TeraWulf
- Context: I’ve covered this name a few times and it’s starting to show stronger behavior.
- Target: the top of the rising trend channel around $10.70 (hoping this is reached well before the end of this month).
- Condition: the bullish case looks best while we remain above the resistance‑turned‑support area on the way down (noted near $7 in my review).
- Technical note: the stock showed a double RSI rebound around the neutral 50 level to start August — a constructive momentum cue.
How I’m trading these ideas
- I’m looking for clean, end‑of‑day confirmations through key moving averages and resistance lines before committing material size.
- For each name I’ve outlined a practical invalidation level (usually an end‑of‑day close back below a recent moving average or support level) — those are where I reassess or reduce exposure.
- Timeframes are short to medium term: most targets are aimed for by the end of this month or by the end of next month.
Conclusion
The tape is in a constructive place — major indices flirting with fresh highs and several individual names showing breakout or continuation setups. As always, watch for end‑of‑day confirmations and keep risk defined. I’ll have more updates over the weekend with follow‑through on these charts.
Disclaimer & Declaration of Interest:
The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.
