Zak Mir takes a charting look at S&P 500, Nasdaq 100, American Eagle, Bone Biologics, Duluth, HWH, Inno, LightInTheBox, Masonglory, Novabay, SuperX AI, Smartkem.
In my latest USA Chartbreakers update I walk through the S&P 500 and Nasdaq 100 technical picture, then run through a dozen individual stocks that have been showing high-probability chart setups. Below I summarize what I covered on September 5, explain the key levels to watch, and highlight the scenarios I’m watching for each name.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Market overview
S&P 500
The S&P has shown a number of constructive technical signs recently:
- Price is bouncing above the floor of the rising trend channel that began in April (the mid-channel/red line area).
- We received a gap-close buy signal midweek — a bullish trigger once price cleared the gap zone.
- RSI has produced two 50+ rebounds in short order, which supports further upside momentum.
Near-term targets and levels I’m watching:
- Support: the 50-day line (6,340) and the lower-channel floor (6,330). A meaningful downside “rug pull” area to watch would be 6,200 at worst.
- Upside target: toward the top of the channel near 6,700, potentially by the end of this month or certainly by the end of next month if momentum holds.
Nasdaq 100
The Nasdaq 100 is trying to reclaim higher ground inside its April–onward rising channel. A few takeaways:
- Primary upside target is the 24,000–24,500 zone, the top of that rising channel.
- Key near-term support is the 50-day line at 23,172 and the floor of the April trend channel.
- Downside risk (post-July support) sits around 22,600.
- RSI rebounds on the Nasdaq have been below neutral 50, which is unusual — but the fact price can rally after that can still be interpreted as bullish resolve.
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.
