Welcome back to VerifiedInvesting.com and another deep dive technical analysis video. My name is Gareth Soloway, Chief Market Strategist. In today’s video, we are diving deep into the technical charts of the S&P 500 (SPY) and the Nasdaq (QQQ) to decipher the next big move.
Following Friday’s significant 5% drop in the Nasdaq, the big question on every trader's mind is: Is this just a simple pullback before new all-time highs ahead of the much-anticipated SpaceX IPO? Or are we in the process of forming a bigger market top?
I will use my Winning Trader Methodology to look at key trend lines, probability-based technical analysis, and the critical head and shoulders pattern that may be developing on the major indexes. We also talk about how institutional book runners for massive IPOs (like Goldman Sachs, BlackRock, and Morgan Stanley ) operate to maintain retail bullishness and create critical exit liquidity.
Video Length: 00:12:54
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