Nasdaq Daily Buy Signal, Can the SPX Confirm?

We got a daily buy signal on the QQQ and many of the names I have been focusing on triggered higher. The SPY had a strong day pushing off the 200SMA but remains weaker and in a more suspect position. It remains on a sell signal but holding the 200SMA and key weekly support around 420 is a great start. Can it build a mini-base and trigger a buy area through 432? If it can that will confirm to me this market is headed back higher in the intermediate term (my timeframe). The cyber security sector exploded Friday and we found out why with the events taking place in Israel Saturday. It looks like the top sector to focus on for the time being. Will this Israel event de-rail the market or send it higher? No one has a clue. Just have to take the signals and play it out. Below is my watchlist more or less.

QQQ Weekly-Another supportive week at the key 20 Week EMA preserving the weekly uptrend and building a potential double bottom base. It would trigger above the 280 area. 270 is the old low that will be watching as the first resistance level.

QQQ Daily-The hammer into the broadening line had the potential to be the Reversal Extension and that is confirmed with the Wedge Pop Friday. Treating us as in an up cycle until further notice.

Comparison to January 6th, 2023-Showed this in greater detail on X Friday but think this unemployment report looks similar to the January report with how the index was setup with a mini-base and then an engulfing bar. Would like to see follow through type action by mid-week of this upcoming week. If that happens you can see we had a strong advance over the following month.

SPY-Much more beat up but strong action off the 200SMA and the 420 support area. We remain on a sell signal for my system but if we can base under this 432 area and then take it out that would trigger a buy signal for me. The declining 50SMA is a negative to be aware of.

NASI-NASI line turned black Friday. Confirmation would be a close through the 10EMA (blue moving avg). For my system, I often have the most success when we are in the black trending above the 10EMA. There was a fake out at the end of August so we will see if can turn this time or not.

SMH Weekly- Potential handle building in this large cup. Buyers got back above the 20 Week EMA. Just want to avoid any major distribution over the next few weeks. We triggered a daily buy signal Friday so optimistic but we will see. So go the semis so go the market is the saying.

META-Breaking out Friday. Looking for follow through. If this market wants higher this is the go-to big cap stock for me.

NVDA-Relative strength into the lows of this index correction. Re-confirming higher through the 50SMA on Friday. Looking for follow through next week as builds this new potential basing pattern.

AMD Weekly-Huge weekly channel in this large cup. Through 112 is where it starts to look really good on the weekly but it triggered a daily buy signal Friday.

GOOG-Slow mover but major relative strength during the correction and igniting higher Friday. Worth watching for some sort of handle/flag to build here.

MSFT Weekly-A laggard in big tech more recently but a KEY name as such a large part of the index. Like to see a breakout of this wedge/handle pattern. Over 340 and looks good. To slow for me but would be a key tell.

AAPL-Similar to MSFT want to see AAPL get back on track even though unlikely to trade it. Getting back through this declining 50SMA and gap resistance would be great to see.

TSLA Weekly-Always a focus trading stock for me. Currently have a position but view it as in a “slop” phase. Have highlighted how important the 50 Week SMA/200 Day SMA is for this stock so giving it the benefit of the doubt as long as above. 280/300 area the key levels to take out. Hopefully, get more clarity after earnings and can get another move like January/May.

CRWD-Explosive breakout Friday. Think an opportunity on any dips as long as it holds. Depending on how it reacts to this Israel news may just explode higher. Key focus.

ZS Weekly-This weekly looks like about to breakout too. The Cyber sector is in play to me. PANW is the lower beta quality name near the highs but QLYS and many other look good. CRWD ZS are the names I like to trade.

VRT-Cleared the key 38.75 weekly level. Now setting to breakout through the 40.41 pivot.

ANET-Triggering a buy area Friday after showing major relative strength the last two weeks. On my focus list. Maybe can get another buy area into the highs.

PLTR Weekly-Exploding Friday after showing relative strength the last few weeks. On my focus list.

UBER-Positive forward-looking earnings estimates. Slow mover but descending channel heading into next week. Worth reviewing.

SMCI Weekly-Hate the massive gap down on earnings but strong action the last few weeks. Keeping it on my focus list.

STRL Weekly-Too thin for me but setting up well if fits your criteria. Looks similar to how FN setup to me.

RELY-Extremely strong stock blasting higher Thursday/Friday.

DUOL Weekly-Another thin stock handling out in this large cup. Worth reviewing.

GLBE Weekly- Building a symmetrical triangle. Needs that change of character bar. Worth reviewing.

There are many other strong stocks but the above makes up most of my watchlist. CAMT MOD SNPS among others are some thinner stocks that act well if into trading that type of stuff.