I think we are at a pullback zone here.... Price is sitting outside bollingerband and More importantly price has now extended 2½% away from its 21ema. Last 4 times Spy has extended 2-3%, away from its 21ema price Usually pullsback to retest. Here's an example
If price gaps up tomorrow 10/15 , then I would be weary of chasing or swing longs.. I'm looking for a pullback to 21 Ema or 574 which is prior bullflag breakout like so.
Remember, be overbought is just a condition, you still need a catalyst for the dump or we could just correct "Sideways" which means chop until moving average catch up. If we pop tomorrow, look for the sell to start Either from Asml earnings or TSM which means the correction will be tech lead.
If price bounces at 573 then The marathon will continue into big tech earnings next week.
Qqq Not as overbought as Spy or dow jones but it did stop at this trendline resistance, and 498 gap close. Like I said , either ASML or TSM I think will crap the bed.
I do think tech and QQQ have chance to make a new high but I think it will come either next week or last week of Oct.
So to sum things up and keep it simple, Spy pullback to 573-575 and if that holds 600 is next up..
10year or TNX Closed Thursday at a brickwall (200sma,trendline) . Usually when 10 year rallies markets pullback. I've been watching this resistance here, any major gap and I expect blood
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Here's IXIC or nasdaq composite..
Despite TSM beat on earnings, tech got stuff back down at this resistance again..
Interesting spot here with NFLX earnings reporting after hours
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Interesting here..
SPXU looks very bullish here and about to explode higher! When Spxu goes higher spy goes lower..
Breakout looks to be either tomorrow or monday..