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What’s New:
This was AI-Generated from the video.
SPY/RSP
SPY is in a downtrend and has not found a bottom. It has been respecting the 21 EMA for the most part and is near the 200 SMA. A rally into declining moving averages is likely. The trend remains in place until a break above the 50 SMA or 21 EMA occurs with follow-through, potentially forming a higher low. The market is in a range with chop. It is heading toward a correction, and a bear market would be confirmed with a significant break below the 200 SMA. RSP has fallen steeply and sharply lower.
QQQ/QQQE
QQQ is at the 200 SMA, which has acted as support after being tested multiple times. It remains below the 21 EMA and 50 EMA. QQQE is in a bear market, with tech taking a significant hit. Momentum growth names are accelerating to the downside.
MDY/IWM
MDY has fallen sharply and is currently at the 150 SMA. It is expected to bounce into declining moving averages. Potential support exists at the 200 SMA and a horizontal trend line. IWM follows a similar corrective pattern.
VIX
The VIX has the potential to go much higher. After a recent pullback, it found support in the 20-25 area. It is positioned to go sideways and then either break up or down. Factors like dollar strength suggest it is likely to rise further.
Overall takeaway from RC: The market is in a correction phase with bearish undertones across most indices/ETFs discussed, no strong buy setups, high caution advised, and capital preservation prioritized over FOMO-driven participation.
