and today we see an incredibly powerful reaction in the market despite the high post CPI volatility technical analysis was respected with impressive precision as always all the main support levels in our stocks were respected and what's more we see some of them breaking through their resistance points we'll talk about that and much more in this video Welcome to the finance Hydra Channel my name is Nathan I'm a Trader sharing my thoughts and ideas here on this YouTube channel welcome or welcome back to the finance Hydra Channel now some people a minority obviously were very worried about today's CPI saying that technical analysis wouldn't work but as always we proved them wrong if you don't know how to read the charts properly then of course you will have problems but that's not the fault of technical analysis it's yours and as far as I know as far as I can see once again our reading holds true let's start with the Spy what is spy's most important support level $539 down here because only by losing this key point we're going to trigger a technical bearish reaction possibly a bearish pivot point however spy today alo alo spy dropped very sharply over here here we couldn't break the $539 in fact when we look at the 1hour chart it feels like it just dropped to close this open Gap over here and then started to react immediately therefore it is still respecting its most important support levels down here now what is spy uh most important resistance level $551 which we are trying try to break right now today why is this key point so important because it is Friday's High Friday last Friday we saw this massive bearish Candlestick pattern over here suggesting a possible a possible exhaustion bar because the bearish movement was already materialized and then we see such bearish bar near near its Fibonacci retracements over here making a false breakout from the 38.2% over here That's a classic exhaustion bar and by breaking and closing above Friday's High spy is going to reinforce this bullish thesis what's more it is breaking and closing above the 21-day EMA the exponential moving average on the daily chart as well therefore it is a double resistance level that spy is trying to break right now today suggesting more upside for our stocks only only spy SP loses the $539 it is going to turn really bearish Nathan what if what if spy makes a very very ugly bearish reaction this week and the loses are 539 down here then okay we're going to trigger a possible bearish pivot point and in this case we're going to seek lower levels potentially the 61.8% fibonacci's retracement on the daily chart over here around 500 $130 all right very simple situation as long as we respect our most important support levels the situation will remain under control the QQQ has a similar scenario we dropped today but uh we are still above our most important support levels right now we are breaking the $461 resistance level making this another exhaustion bar right above its critical fibonacci's retracements down here namely the 61.8% one therefore this is a very good timing for a bullish reaction and the the QQ is trying to react very nicely breaking its most important resistance levels suggesting that our tech stocks are supposed to seek higher levels let's start with Nvidia because envidia is not only breaking uh the 21-day EMA over here but if we take a look at the weekly chart we are making a very nice reaction above the 21 week EMA and we are trying to materialize a bullish Candlestick pattern on the weekly chart as well which could be an above the stomach or maybe maybe a bullish harami I don't know how the weekly chart is going to close and of course we don't need we don't need to know in order to trade well real trading is reactive it is not predictive we do not need to predict the future in order to be profitable Traders Now by breaking the 21-day EMA Nvidia is going to give us a very nice bullish signal it is trying to seek our next resistance level which is $131 Nathan what could possibly frustrate this bullish thesis of yours only if Nvidia loses the previous support level $100 all right because why because it is going to trigger a crystal clear bearish pivot point on the daily chart if we see a top signal below the 21 Day EMA all right that's going to be an alarming signal and then if if Nvidia materializes this bearish pivot point then okay we're going to reverse it is not going to be uh a a real good meaningful uh bullish signal on the weekly chart probably and in this scenario we're going to seek even lower levels probably than $90 support level down here on the weekly chart however as long as Nvidia keeps trading above our main support levels the situation will remain under control the bullish thesis will remain valid period all right now Tesla is also respecting its most important support levels today apparently we just dropped to retest the 21-day EMA on the daily chart and that we are quickly reacting from here that that's a very good bullish signal what's more there is a purple trend line connecting the previous support levels on Tesla and the seen such reaction such reaction above these two support levels this dual support area over here it is a very interesting and meaningful signal for Tesla suggesting more upside left what's the most dangerous challenge for Tesla right now the $233 resistance level which was a previous support level over here on July this year it was a resistance level here here here here and last Friday again so we got a break $233 in order to materialize a meaningful bullish chart structure what's more Nathan what if we lose this dual support level over here the purple trend line and the 21-day EMA in this scenario we are going to material we are going to truly reject the bullish thesis and in the worst case scenario we're going to seek the next support level $182 down here there are no other meaningful support levels on Tesla besides 182 therefore we we got to be extremely careful in this scenario however by making by making this upwards breakout breakout I do see Tesla retesting much higher levels there is an opening Gap at 245 but if you ask me Tesla would retest our next resistance level on the weekly chart 265 that's going to be a very meaningful and a realistic Target to work with especially because it seems to me we have an ascending triangle chart pattern over here in Tesla right and by making this upwards breakout we are going to trigger this pattern suggesting a crystal clear upside for Tesla and uh for you who want to learn how to trade stocks in practice without feeling any anguish without any stress and without any fear then join our telegram channel the 5% project it is free to try and as a bonus you will get my ebook written by me where I detail the basics of technical analysis based on our trading methodology that we see here every single day in our videos therefore check out our website where you'll find everything you need to navigate this Market without fear come on and learn with us the link is in the video's description all right now AMD is also making a very nice bullish reaction we are breaking and closing above the 21-day EMA over here what's more we are breaking we are trying to break the 38.2% Fibonacci retracement after making a bullish reaction above the 61.8% fibonacci's retracement therefore AMD is poised to seek higher levels what's AMD next resistance level 162 Nathan what it takes for AMD to frustrate this bullish thesis to the 162 if we lose the previous support level around $132 down here only by making this bearish pivot point then AMD is going to resume the medium-term bearish momentum over here and in this scenario we are going to seek the next support level at 121 but as long as we stay above our support levels great AMD will remain very very bullish now paler is insanely bullish we are clearly above our most important support levels the next support level is around $33.3 if we lose this key point then all right palter is going to trigger a sharper correction a PO back to the 21 EMA area or maybe to the $31 over here but uh since the trend is still very bullish any pullback would be just another buying opportunity paler was on my personal radar but this movement this movement over here was way too intense all right so I'm just waiting for another opportunity and remember if you do want to trade with me just check out our website for more information Link in the videos description super micro computer is reacting uh let me be honest with you guys I would prefer to see super microcomputer dropping a little bit more just to retest the $357 as a support level which was a previous resistance level over here on August last year but uh right now we are reacting above this key Point okay it is good but as far as I know we are still in bare territory therefore we got to be extremely careful over here only by breaking and closing above the 21-day EMA super microcomputer will enter bullish territory again we see an open Gap over here above the price which honestly I think it is going to be closed in the next few days or maybe in the next few weeks but uh we are not necessarily in bullish territory yet maybe we will soon maybe we won't it all depends on how how it is going to close the weekly candle if you ask me because if we do materialize a bullish Candlestick pattern on the weekly chart odds are that we are going to seek higher levels we have a major resistance level around the 21 Day EMA but uh by breaking this key point the $636 is going to be our next technical Target therefore super microcomputer is a very interesting stock to keep an eye on right now and the arm Holdings you guys uh like arm Holdings right now we are on the verge of breaking of triggering this bullish Pivot Point higher high higher low all right this is a very good and interesting bullish chart structure it is the best bullish chart structure ever because it is indicating to it is indicating to us that arm is going to reverse finally reverse this bearish sentiment over here we made recently recently in the past few months over here we materialized this bearish Pivot Point lower high lower Low by materializing a higher high higher low we are finally breaking this bearish sentiment and uh starting to turn bullish again we are above the 21 Day EMA very good and by breaking and closing above the 138 arm Holdings will technically turn very bullish again in this scenario our next technical Target is around $173 what could potentially frustrate this bullish thesis of yours Nathan if we lose our previous support level 114 all right as long as we stay above this key point the bullish bias will remain intact and if you're still watching this video and you're not a subscriber come on just subscribe to this channel for more daily analysis like this you probably did like the content so far so just join the finance Hydra Channel community and click the like button to support me as well it is very important thank you for your audience stay safe see you guys tomorrow