Zak Mir takes a charting look at S&P 500, Nasdaq 100, Haoxin, Lunai, Magnitude, Nvidia, Nuvation, Ridegtech, Santech, Sigma Lithium, SG Blocks, WeShop.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
The broad market is testing a fresh technical picture. The S&P appears to have established a new floor around the uptrend line from April, with an initial support area near 6,600 and the 50-day moving average sitting near 6,712. A best-case scenario would be a push toward 7,000 by year end, but every sideways day chips away at that probability. On the downside, a break below 6,550 would bring October support back into focus.
The Nasdaq 100 has widened its price channel as well. The lower boundary is just above 24,000 while the top of the channel points toward about 26,500. A decisive end-of-day close back above the 50-day line at roughly 24,945 would be the cleanest signal to reignite the tech-led upswing.
How to read the setups
When a market or stock trades inside a widening channel it suggests larger swings and a need to be selective. The most reliable cues remain:
- 50-day moving average — useful short-term trend filter; closes above it often attract fresh buying.
- 200-day moving average — confirms longer-term trend changes and obvious technical targets.
- Trend channel boundaries — the floor offers support, the ceiling resistance; expanding channels mean volatility is increasing.
- RSI around 50 — a cross above neutral 50 often signals the worst is behind the stock, while a drop below can indicate momentum loss.
Final thought
Several stocks are flashing meaningful technical turnarounds while the major indices trade within expanded channels. Exercise discipline: prioritise setups that hold above the 50-day with confirming momentum and treat pullbacks to prior breakout zones as opportunities rather than failures. More signals will emerge as prices test those key levels over the coming sessions.
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.
