Zak Mir takes a charting look at S&P 500, Nasdaq 100, Aethlon, Apimeds, Cato, DDC, Equilium, Gaxos, Immuneering, Selectquote, Tharimmune, Twin Disc.
In this update, I walk through the S&P 500 and Nasdaq 100 technicals, then highlight a set of individual US stocks showing actionable chart patterns—breakouts, trend-channel plays and key support/resistance levels to watch over the coming weeks.
Market overview: S&P 500
The S&P is still trading inside what looks like a rising trend channel that stretches back to April. Key reference points right now:
- April uptrend baseline intersecting recent August supports near 6,212 (initial August support) and 6,343 (latest support).
- A decisive move back above the 6,400 area would put the index on a trajectory to test the April resistance line toward 6,650 by the end of next month.
- RSI remains above neutral 50 despite the pullback and a recent bearish divergence (higher price highs in August with a lower RSI trace).
- Short-term downside to respect: the 50-day moving average near 6,255 — the S&P hasn’t closed below its 50-day since early May, which speaks to the market’s underlying strength.
“”The worst case at the moment is probably the 50-day moving average, 6,255.””
Market overview: Nasdaq 100
The Nasdaq has shown more weakness recently and is testing the floor of its April rising channel.
- 50-day moving average sits roughly at 22,800 — staying above that line would be constructive.
- There is a gap from late June toward 22,000 that the market could fill if downside accelerates.
- Initial August support / clear neckline is around 22,600: a break back below that would make the market look noticeably toppy.
- RSI has fallen below neutral to 47 and shows the same bearish divergence seen on the S&P.
- If Nasdaq holds above the 50-day, a test of 24,000 within the next two to three weeks is the bullish scenario.
Stock watch
Aethlon Medical has pushed through a resistance area and given a clean breakout above the recent resistance zone around $1.90. The pattern shows a gap move earlier in the period and recovery through the 50-day moving average this month. If the breakout holds, look for the 200-day moving average area around $3.20 and higher-channel targets into the coming month.
Apimeds has broken its May resistance line (around the $2.05–$2.50 neighborhood in recent action). The stock sits in a rising trend channel with a rising 50-day and a higher-RSI trend as confirmation. As long as price stays above the recent breakout (around $2.50), the top of the channel could be tested $3.80 targets extend materially higher over the next few weeks.
Cato has cleared the 200-day line and pushed above recent resistance near $3.45 and above that looking for $5.00. That breakout opens the path toward higher channel levels and would also help fill a prior gap from last November. Watch that previous resistance as near-term support; the upside target is meaningful over the next month if momentum continues.
DDC (Enterprise) is tracking inside a rising trend channel that dates to April. After bouncing off the channel floor (around the $10 area) and rebounding through RSI 50, the setup looks constructive. Staying above the 50-day moving average (near $12.40) increases the odds of reaching the upper channel ($25) in the coming weeks.
Equilium is showing an extended bull-flag breakout and multiple RSI rebounds above 50. The stock is attempting to clear the next resistance line toward roughly $1.75. The critical support to keep this bullish is the August initial peak ($1.35). If it holds, a steady move higher in short order is likely.
Gaxos.ai recently hit the top of its rising channel near $2.90 and is positioned for another leg up toward the upper parallel of the channel. A close above the recent peak ($2.43) on daily closes would support continued upside toward the next channel objective ($4.60) by the end of next month.
Immuneering remains inside a healthy rising trend channel and has already shown the potential to reach the top of that channel ($5.25). The stock is trading above recently broken resistance ($4.00) and could continue higher toward the channel ceiling as long as that level acts as support.
SelectQuote has gapped through its old July 2024 resistance ($4.40) and is now trading above the 50-day moving average within a rising channel. The near-term target is the top of the channel ($3.20 in the speaker’s scale), with meaningful support on pullbacks toward recently broken resistance ($2.30).
Sol Gel picture shows a massive gap to the upside – top of the channel $40.00, while we remain above the mid-point of yesterday’s range, around $22.00. The shares can step up to the plate
Tharimmune is showing a wide rising channel with a sizeable upside gap earlier in the move. The upper channel target is roughly $4.40, with balanced support around the midpoint of yesterday’s range ($2.20). Staying above that midpoint keeps the bullish case intact toward next-month targets.
Twin Disc powered back through the 200-day moving average and cleared recent July resistance around $10. Above that level the stock looks set to run toward the top of the channel and the speaker’s target ($15.60) by the end of next month.
Key themes and trade management
- Overall market bias: cautiously bullish on the S&P while keeping a close eye on the Nasdaq’s ability to hold the 50-day line.
- RSI divergences across major indexes warn to be selective—confirmations (daily closes above breakout levels, holds of 50-day lines) matter.
- For individual stocks, the playbook is classic: breakout above prior resistance, holding that level as support, and watching the rising trend channel top as the near-term target.
- Use the 50-day and 200-day moving averages as risk references—losing those levels typically shifts the setup from bullish to neutral or bearish.
Conclusion
Plenty of actionable setups across the tape this week: a resilient S&P in a rising channel, a more vulnerable Nasdaq testing its 50-day, and several small- and mid-cap names showing strong breakout characteristics. Watch the key support levels and RSI action for confirmation, manage risk around moving averages, and I’ll share more updates over the weekend.
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.
