9/3 US Stock Recap: SPY trend steady, QQQ double bottom forming 1. Market Overview: SPY maintains upward trend, QQQ awaits double bottom confirmation Today, the overall market structure hasn’t undergone any fundamental changes. Although there’s still some short-term volatility, technically speaking, SPY continues to exhibit a standard pattern of higher highs and higher lows, with the medium-term upward trend remaining intact for now. After the index pulled back to around 760 a few days ago and successfully stabilized, there’s now triple support at the 21-day moving average, 760, and 756. As long as these levels aren’t decisively broken, the current adjustment is still considered normal consolidation within the upward trend. Keep an eye on the historical high near 779 for resistance above. QQQ’s momentum is slightly weaker compared to SPY, but the daily chart is attempting to form a double bottom structure, with the 700-701 zone being the most critical defense area. This zone is supported by a gap, weekly-level support, and a psychological round number. As long as this level holds, QQQ has the chance to complete a double bottom reversal. If 700-701 is decisively broken, the structure will deteriorate, and in extreme cases, it could further test 661. On the upside, focus on 724 as a key level; if it breaks and holds, watch for 729, 734, and ultimately the historical high at 748. 2. NVDA: EMA 20 remains bullish, target at 236 The post-earnings volatility for NVDA hasn’t disrupted its overall bullish structure. Currently, the stock price has stabilized above the 20-day moving average and is attempting to form a new bullish pivot. If the structure continues, the next major technical target is the previous high at 236. In the short term, if it falls back below 227.92, be cautious of a false breakout. However, as long as it can stabilize again after retesting the 20-day moving average, this pullback can be seen as an opportunity to optimize the risk-reward ratio. What needs to be watched closely is if NVDA consecutively breaks below the 21-day moving average, 214, and 208, which would signal the need to guard against a potential daily double top further testing the 200 area. For now, this bearish structure hasn’t been confirmed, so NVDA remains in a bullish position. Look for support on pullbacks and resistance at 236 on breakouts. 3. META: Breaks 604, enters trend-following phase META performed strongly today, with a daily bullish candle showing over 3% gains. Although META has been in a consolidation range since October 2024 on the weekly chart, its long-term bullish trend remains intact. The first major target above is 624; if 624 is broken, the next focus will be on the gap area near 660.