14d • General discussion
Market Mood – Stocks We're Watching This Week
1. SPY – Riding the Uptrend
SPY continues to grind higher, making new all-time highs while staying above that ascending trendline since October. Right now, it’s forming an ascending triangle pattern – flat resistance around $690 with higher lows. This shows buyers are getting more confident. As long as that trendline holds, the trend stays bullish. A break above $690 could give us another leg up.
2. IBIT – Caught in a Squeeze
IBIT is consolidating inside a symmetrical triangle after its downtrend. Price is getting squeezed between converging trendlines, which means buyers and sellers are in a standoff. On Friday, it rejected the upper trendline and pulled back. Watch for the breakout direction – above could signal a reversal, below continues the bearish momentum.
3. Google – Holding Strong Above Support
Google has been respecting a clean uptrend line since October, bouncing nicely every time it dips near that support. Currently around $315, it’s holding strong and showing resilience. As long as this uptrend stays intact, Google could be setting up for another move higher. If it breaks below that trendline, the story changes.
4. Netflix – Breakdown from the Squeeze
Netflix was in a descending triangle pattern with lower highs and support around $92.50. On Friday, it broke down with a strong bearish move, dropping nearly 3%. This signals sellers are in control and the stock could continue lower. Great example of how price compression leads to explosive moves.
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Market Mood – Stocks We're Watching This Week
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