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Hello everybody, my name is Drew Dosk and welcome to trading the close. Today is another positive green day in the markets. We had nothing but just buying pressure nearly all day long and we've got earnings this afternoon, too, with a big player, Google. So, let's just jump straight into those charts.
those folks watching live, here's going to be some uh levels that you can trade and anticipate movement to after hours. So, right into Google, we see here Google's moved up, had a beautiful day so far, up 2.54%. Earnings after the bell could push price up to 16693. That would be a near-term day trading shortable level.
also right here at 17056. If it pierces and goes back up into this parallel on the downside, we do have a gap fill right here at 14767. That would be a place to start entering for a long on a day trade and then right down here at 14389. All right, so let's flip over to the heat map to get a summary of what transpired throughout the day.
And as you see here, nothing but a lot of green on the right hand side of the screen. Dow Jones up 1.3%. NASDAQ up 2.51%. S&P 500 up 1.87%. US oil up 65%. Still chopping around that line that we're going to show you here in a little bit. Gold also did have a little bit of an update too. Up 58 bucks, 1.77%.
And Bitcoin is flat, mainly just hanging out right around where we uh left yesterday. And that's good news for bulls of Bitcoin because now they have the opportunity for bullish consolidation to uh to take place giving the momentum and strength to Bitcoin to move up higher. All right. So let's jump into the spiders here.
We see a major breakthrough right here. Yesterday um if you recall here we opened up and started trading within this parallel and then got rejected. Today you clearly see we are well inside this parallel. Now, there's good and bads to this, too, because what needs to happen now is we need to confirm above the candle close today to to make sure that we have any sort of positive momentum moving higher with this big pierce.
It will be a challenge for that to happen tomorrow, but we'll see where we open up. If we gap up, that could be an easy feat to to take place. It all depends on really now this candle. what happens tomorrow and the following trading days is really going to dictate the future near-term movement in the stock markets.
Now, if you also recall, u the cycle date that I described was supposed to take place on uh April 14th, actually happened uh a few uh days earlier on April 3rd, right about 10 days earlier. And today marks the 3-week time frame. So, these cycles last about 3 to seven weeks. Now is the time where potentially bullish sentiment can step in and start moving the markets higher.
Our next cycle date we have comes just next month, May 15th, but there's really no positive or negative sign there. It could just be a change in momentum. So, we're going to keep a close eye and watch and monitor to provide you guys with guidance there. So, back to the spiders. So, we need to confirm above this candle tomorrow.
If that takes place, I think the markets can push much higher all the way up to I think the high end of this run could be the gap fill right here at 5836. Now into the QQQ, this also displays that we do have bullish sentiment on the charts. Now, we haven't gotten above and nor closed above this massive green candle.
However, with this longerterm trend line with a pivot down here from April uh 19th of last year connected over to this low pivot all the way through. You see now that we have now moved up yesterday and now today we have confirmed above this trend line. This trend line now is major support which then also shifts probabilities for price to continue moving higher.
However, on the cues, notice our first resistance is going to be coming in right here at this trend line, which is roughly 472 and 30. So, we may have some room to run, but then we'll get caught up into some resistance. What would be ideal for any bulls out there, you want to see consolidation right around this area or even potentially a gap above that trend line because that will allow the reserved energy that would be required to get through this trend line to be used to excel forward.
So, you're hoping if you're a bull for a gap above this trend line and a run and we'll see if Google after hours can help in getting that accomplished for the QQQ into Bitcoin. Bitcoin, as I mentioned, kind of chopping around and that's to be expected. We had a huge move up over the last few days and we need a little bit of a pause now to actually have a proper move up in the charts that will be sustained.
If we don't have any sort of breaks, usually these can um run out of gas real fast. Say if we just continued moving higher up into the next resistance levels without any sort of pause, we would get rejected and likely come all the way back down here to these pivots. But now with this consolidation, that opens the door for more upside in Bitcoin.
Next stop is going to be 95,000 followed by 97,400 and then up here to the $100,000 mark into gold. You see we did have a little bit of an upday here on gold and then the big fall that we've seen here. So, there's still a lot of buyers interested in gold, and that's likely to be the case. I'm still eyeing this area right here at $3,100.
Getting less and less likely that this $2,800 area is going to be hit any time in the near future into silver. Silver's also uh following up yesterday's huge gains with potential bullish consolidation. We'll see this over the next few days how this uh how the price action behaves on this chart. If we do have more bullish consolidation, that will open the door for a move right up to 3458 or up into 34.86 with that area being very strong resistance on the charts there for silver into US oil.
It continues to chop around this uh this trend line right here, which doesn't say it's bullish or bearish yet at the moment. It's just trying to break through, but the more times that this line is hit, the weaker it becomes. And so that is also increasing probabilities of a chance to go higher rather than when it was here when this trend line was stronger.
So that it's about a 50/50 coin split right now on what's going to happen with oil either up or down and the economy will obviously guide that too. If we start having a rip up in the markets, it's likely oil will follow suit too and start moving a little bit higher into natural gas. Natural gas did dip down uh a little bit lower and tagged this support level 306, but it's still closing in the range of these two candles that were prior or prior days of trading.
So, this area still is good support for natural gas. Should we consolidate right around this area, that will then create a bare flag pointing towards more downside down here at $255 into the US dollar. Now, the US dollar also had a little bit of a break today from its move up recently, and that's all fine.
Um, but most importantly, we're not making new near-term lows on the dollar. So, this behavior is fine for the dollar, but wanted to touch base and give you an update on that into the 10-year yield. The 10-year yield is now pulling back a little bit, which is alleviating pressures from the market. when when the yields were spiking up like this, that was raising a lot of concerns with investors with money getting harder to borrow and then also purchases being more difficult in the future for retail investors and retail purchasers.
Now, the the yields are pulling back down that's providing a little bit of ease allowing investors to focus back on the stocks that they want to purchase for another move back up. Now, AVGO was one of the leaders of the mega caps today. And you can see here what AVGO has done now with this move. It's now broken above this trend line.
Now, this trend line, you could you could call this an inverse head and shoulders pattern that's on the chart of AVGO. Should that inverse head and shoulders pattern play out, we'll have a measured move all the way up to 23133. So you see here too on the charts, the charts, I'm not going to predict anything that's going to happen in any one of these stocks.
What I do is read the charts. The charts tell me what's going to happen. I'm not going to sit here and say in 2029 we're going to be doing this. Um because I don't understand uh all the complexities and nor does really anybody else of what could happen, a black swan event. The charts guide us. The charts show us which way price is likely to go.
And right now from what we see here on AVGO with this breakout, we're going to need a confirmation above this candle in the following trading days. But should that occur, that all then makes this major support, allowing the probabilities to shift for a higher move up. Now, next resistance for ABGO to get through is this declining trend line right around 1937.
But should it break through that, we we'll have a lot of room to run with a little resistance here, but then ultimately that measured move up here at 231 and 33 cents into Nvidia. Nvidia here also had a great day from this big gap up that we had yesterday. We're now closing above that candle which then also does open the door for some further upside movement.
First resistance on Nvidia is going to be 112 and 20 followed by 11975. But then you notice here in this area right above 120, we get into a lot of resistance on the chart of Nvidia. That would be an area where I would anticipate if we did move up that we would come back down, likely test the top ends of these pivots, maybe even consolidate in this area for some period before attempting to go higher.
And who knows, by that time the sentiment could change. Maybe tariff deals won't be on the table that we thought were going to be. And then we could also start reversing over uh and curling back. But this is the area to watch on Nvidia over the next coming days and weeks in trading. Now into some more crypto um uh stocks.
Now MSTR is not crypto, but they do hold an awful lot of Bitcoin. As you see here on the chart, we've had a long-term declining parallel channel that price action did right here. It closed above this trend line and then right here confirmed. So this now is a confirmed breakout on MSTR from this declining parallel.
What needs to happen, which would be ideal of a scenario, especially for traders, is if we see MSTR come back just slightly, retest the top end of this parallel right around 30657, that would be an ideal buying opportunity for MSTR. What's great about these breakouts is if price does come back down in in the parallel and confirm back in the parallel, you can stop out.
It's a lowrisisk reward trade. So, it's a low-risk, highreward potential for a trade because if price action comes back down, the likelihood and what generally happens when price does a breakout like this and retest, it acts much like a springboard at the swimming pool where someone's jumping and then they get their next jump and it's a big jump back up.
And you'll see a very similar pattern that's taking place right here on Tao uh Bittensor. This this cryptocurrency has had a monumental move over the last several days. This is one of the top movers on Coinbase. You can see it's moved up nearly 60% since just a couple weeks ago. Massive breakout here on TAO.
And so if you look on the charts, it's very clear to see this declining trend line that price has broken out of. And then also if I pull up the RSI, you can see we are in overbought territory right now. So both the breakout and the overextension of this move and overbought RSI all tell me that this crypto needs to cool off a little bit.
But much like on the MSTR chart, if it does cool off and come right back down, this area can act as a springboard catapulting price higher up on the charts. That area to buy is in between $281.50 and $29125. keep this on the radar for an opportunity to capitalize on a move much like this one in the near future into now.
Now, Service Now had earnings u just yesterday after the bell and this stock rose up 15% today right into resistance here at 93837. Next areas of resistance should service now continue moving higher. They had great guidance for their second quarter. They also had higher subscribers too. So, both of those are a one-two punch for continued movement upwards.
But this 15% move likely needs to cool off a little bit before it moves up higher. But the next resistance area is the $1,000 mark followed by this inclining trend line right here at which is roughly currently at $1,000 or $1,60. Now into C real quick, real quick before we wrap up trading the close.
This is a spa company for um what they've done, they've combined with Tether and Soft Bank and uh Cantor. Um they've all combined to put in money to start a new company called 21. Now, this company is going to be based off of uh Bitcoin and crypto. So that that's going to be the core base much like MSTR.
So this company hasn't debuted yet. They're using this C as a spa, but today price action on it got up over 130% gain. Huge move in the market, but you can see here also a corresponding collapse. This was one of the uh hottest stocks talked about on Wall Street Bets today. And as you see, a lot of people were piling in.
But these are very dangerous plays. If you don't know what you're doing, you can really be caught on the wrong side of a trade. I do point this out though. If we do move into bull markets in the near future, whether that's this year, next year, or following years, understanding how spacks work will help you because usually we have a lot of IPOs during bull markets.
It's not typical during bare markets because usually those stocks open up and just get smashed in bare markets. Companies when they're coming out and introducing theirelves to the public to purchase for investors, they want to see that stock price rise. And so usually during bull markets is when you have a lot of IPOs, but understanding spaxs can help you make good investment decision in the future.
All right, that wraps up trading the close. Thank you guys so much for watching. Again, my name is Drew Dosk. Thank you all also for the comments. I love having all those. They really mean a lot to me and help guide me to give you guys better information here on this show. You guys have a great one and I'll be back next week with some more data. Until then, you guys have a great weekend. Thanks so much. Bye-bye.
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