Zak Mir takes a charting look at S&P 500, Nasdaq 100, AnaptysBio, Beneficient, Bakkt, Conifer, Fate, Innovation Beverage, Leap Pharmaceuticals, Robo.ai, SciSparc, Zura.
In today’s market update, I run through the major index setups (S&P 500 and NASDAQ 100) and then walk through a dozen individual charts I’ve been watching. Below you’ll find the key levels, trend structures, RSI cues and my short‑term target ideas for each name. If you follow the channel, this is the same style of technical scan I use to find potential breakouts and managed-risk trades.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Market overview — S&P 500 and NASDAQ 100
S&P 500
The S&P came into yesterday with a decent session and has since given back most of those gains on futures amid renewed US shutdown fears. Price still sits inside a rising trend channel that began in April, but the index is trading within a recent horizontal range.
- Immediate support: 6,550
- Floor of the broader range / 50‑day line: 6,474
- Near resistance / recent record highs: 6,700
- Top of the rising channel (extended): 6,850
- RSI: in the 60s — still constructive, but watch for the pullback to 6,550 as a likely scenario
NASDAQ 100
The NASDAQ also looks extended in time. It’s been tracking the April rising channel up toward the top near 25,400. My best‑case near‑term projection pushes toward 26,200 (a late‑January resistance projection) if the market holds the base.
- Key support: 24,000 (recent lows / floor of the channel)
- Upside: channel top 25,400, best case near‑term target 26,200
- Context: Holding the 24,000 area gives more room to handle headline volatility (e.g., shutdown risk)
Stock watch — setups and targets
Below are the individual names I reviewed, with the key chart points and where I expect price to head if the setups remain valid.
AnaptysBio, Inc. (ANAB)
Shares have gapped through near resistance.
- Resistance cleared: around $28.70
- Near‑term upside: top of the range toward $38 by the end of next month
- Action: As long as the breakout holds, look for continuation toward that channel top
Beneficient (BENF)
A nice daily structure — a spike off the base of a rising trend channel and a run to the channel top.
- Recent high / December resistance: $1.07
- Gap to fill: $1.13–$1.14 (the gap zone to watch)
- Support on the way down: $0.85
- Target if above support: roughly $1.10–$1.20
Bakkt Holdings, Inc. (BKKT)
We’ve watched this one a lot — it came very close to the top of its range and the higher channel resistance.
- Second channel target / near top: $35
- Key support / old gap: $28
- One‑year resistance above that: $37
- Outlook: Looks set for another push higher while staying above the old gap zone
Presurance Holdings, Inc. (CNFR)
After a sharp pullback that acted like a bull trap through the old $1.90 area, the stock has rebounded and is back in play.
- Broken resistance now acting as support: $1.32
- Near‑term target: $2.60 by the end of the month
- Technical cue: massive key reversal to the upside and a double RSI rebound around the neutral 50 line
Fate Therapeutics, Inc. (FATE)
Price has broken through the 200‑day (and the 50‑day on the same day) — a sign the medium‑term trend is turning constructive.
- 200‑day moving average to hold: $1.19
- Top of the range / channel target: $1.70 by month‑end
- Outlook: The longer Fate stays above the 200‑day, the higher probability of the channel top being reached
Innovation Beverage Group Limited (IBG)
The chart has been in a falling channel but we’ve gapped off the lows and managed to reclaim the 200‑day moving average — that’s encouraging.
- 200‑day moving average support: $3.47
- Channel top / range target: $6.50 by the end of the month
- Notes: Price action has been volatile (bear‑trap style), so discipline on the 200‑day level is key
Leap Therapeutics, Inc. (LPTX)
Volatile history, but we’ve now seen a breakout through the $0.37 area.
- Breakout level: $0.37
- Immediate targets: $0.50–$0.56 in the coming days
- Next resistance / 200‑day: ~$0.74 (best‑case target by the end of next month)
- Key invalidation level: staying on the right side of $0.40 is preferable while this plays out
Robo.ai Inc. (AIIO)
A gradual, choppy move higher inside a range. Volatility remains, but momentum favors the upside.
- Trading band recently: $2.00–$2.50
- Top of range: $3.50 (target by month‑end)
- Technical cue: multiple RSI rebounds around the 50 mark suggest upside bias
SciSparc Ltd. (SPRC)
Messy price action recently, but the shares gapped up and closed at the top of the prior falling channel — a constructive sign.
- Recent pivot level: $5.80 (channel breakout point)
- Near‑term upside: toward $9 in the coming days to weeks
- Risk management: ideally hold or stay on the right side of $6 while aiming for $9+ in early October
- Technical cue: double RSI 50 rebound adds strength to the bullish case
Zura Bio Limited (ZURA)
Building on a previous gap higher, Zura is in a wide rising channel with room to run if support holds.
- Top of the channel target: $8.30 (target by the end of next month)
- Downside cover / support on pullbacks: $3.40
- Outlook: As long as price keeps above the on‑the‑way‑down support, the channel top is the logical target
Putting it together
The macro backdrop is mixed: both the S&P and NASDAQ sit inside rising channels but headline risk (shutdown chatter) can easily produce pullbacks. My approach this week is to favor names that either have clean channel breakouts, are holding key moving averages (especially the 200‑day), or that show repeated RSI 50 rebounds — these are the charts most likely to give controlled entries and defined downside.
If you want more frequent chart calls, I’ll be posting updates daily — I’ll be watching how these setups behave around the levels above and reassessing if the market environment changes.
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.
