Art of Speculation
Art of Speculation|Aug 08, 2026 05:05
This week's core market views US stock market: QQQ has confirmed its bottoming out structure. Although SPY and QQQ have entered high levels on a daily basis and there is a demand for short-term pullbacks, their hourly levels still maintain Higher High and Higher Low, and their bullish structure has not been disrupted. I won't blindly go short just because it's rising too much (currently bullish, bearish against the trend). I suggest waiting for a healthy pullback and stepping back on key supports such as EMA 21 and gap for 4 hours. As long as you hold on, it's a new opportunity to buy low. It is expected that the index will maintain a volatile upward trend and continue to challenge historical highs. SPY 4-hour EMA 21 is 760, which is also the front height of the structure. Stepping back and doing long may not necessarily lead to a perfect return to this position, it may be higher. QQ follows 726 short-term resistance, which is also a position that needs to be digested in the near future. The early gap of 702, while approaching the 21 day moving average, is the first important support. If we hold onto the 701-702 area, we will continue to fluctuate upwards and challenge historical highs. The 4-hour EMA 21 is around 707, which is also near the put wall. Go long after stepping back. I went to 708 once on Thursday, and that position is a good buying spot. Let's see if there is another opportunity to add positions like this next week. BTC: The area above 68000-70000 is the most liquid intensive and also the location of the FVG gap. Be careful at the current position to first hunt down bearish liquidity upwards. If there is a false breakthrough later and it falls back below 67000, you can consider looking for short selling opportunities. Gold: After breaking through the downtrend line, the target levels of 4300 and 4500 were announced two days ago. The target of 4300 has been reached, and the trend is still healthy. As long as it does not fall back to the breakthrough level, the next target will continue to look towards 4500. See if it will form a high-level bullish consolidation pattern. Silver: The trend is still weaker than gold, and the downward trend line has not been effectively broken. The day before yesterday, it was reminded that 64-65 is a strong resistance, and it is not recommended to chase high at this position. Next, we will pay more attention to whether a Higher Low can be formed after stepping back on the densely traded area. If confirmed, we will consider buying on dips and not chasing after resistance levels.
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