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All right, today we'll look at SPY, the triple Q's. We'll also look at Bitcoin and Apple stock and we'll see if any of the price action this week can get us out of this trading range. So, last week I talked about the fact that we could have had a lower high developing here as long as we were down below 604.
And then shortly after that, in a few more days, we did break down to a lower low, but with today's bounce, we were up nearly 1%. And it does look like we could be bouncing off of support here. However, I want you to look at this price action and see that this is still possible that we could be making another lower high.
And if that's going to be the case on SPY, we are still going to fail to break above 604 and we are still very likely coming down lower towards 582. So, there's a few ways you can play this. It's obviously in a range, so you can keep trading the range while we're in it, but there's no strong trend in either direction right now.
And that's important to note because in a rangebound market, you really shouldn't expect a breakout. You should be waiting for one. And that means price either needs to break above 604 or continue to make lower lows as it's heading down lower towards 582. And that's why you just simply need to follow price.
Right now the bears do have something to work with because we do have the lower high into the lower low rejection. And that's the start of every downtrend. So if we are going to get a deeper pullback and have some sort of summer correction that could be in the works right now while SPY is down below 604.
Now, if SPY breaks out to a new high, then we are looking for the previous all-time high retest at 613. And the only way I'm looking for that is if SPY can indeed prove it can make a higher high breakout because right now we do have the lower high development. With the lower highs, manage risk. And if we start breaking down below 594, you will be looking for 582 on the NASDAQ 100 triple Q's.
We're up 0.91% today. And again, it's the same exact story as SPY. We are still making these lower highs and lower lows. in today. We did make another lower low and even though we did bounce and close near the high of the day, it is still likely a lower high while we are trading down below 536. Now, if we break above 536, you're looking for 544.
But while we're down below 536, it's very likely that we're coming down lower towards 522 and then 512. So, keep that in mind. Watch price here. And keep in mind, this could be another lower height rejection. On Bitcoin, we have the same exact story. We are getting lower highs and lower lows. And while Bitcoin is down below 101,000, that is a lower low breakdown from a lower high rejection, which means it is likely going down lower towards 96,000.
And again, even though we're bouncing right now, it could be the next lower high as we're continuing to go down lower into a deeper pullback. So, be very careful on Bitcoin. It does look like it's trying to go lower while it's down below 107,000. So, while it's down below that resistance, keep in mind it could still be trending lower.
And then quickly, an update on Apple stock. It is still looking like a nice trade. Even though it's really just chopping around the buy zone, which is right there, right around 199, it is still looking like a great lowrisk entry for a long swing reward up here in the 220s. And keep in mind, you need to be managing risk on this trade between 192 and 199.
So, if you are buying Apple stock, I do believe this is the time to be looking to buy or enter. And then you are holding for as long as it takes to get all the way up there in the 220s. And that is how swing trading works. Time is always on your side because you have the benefit of just simply getting into the trade and then letting time do the rest of the work for you.
And that is the power of swing trading. So on Apple stock, nothing has changed even though it really is just chopping around within the buy zone. So you can either trade this range between the 192 and 199 zone or you can simply start to accumulate and look for that longerterm swing trade. Year to date, we are currently up 19.73% and you can have this exact same performance because for the TEQ and the SQ.
And we are up 19.73% year-to date absolutely crushing this market which is still barely green for the year while we're up over 19%. If you want to come trade with me, this is the best way to do it. And you can find out how to join my alert service called TSC Trade Alerts . And I'll also put it down there in the comment section.
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