A technical market update focused on short-term support and resistance levels after a broad selloff in mega-cap tech. The speaker is bullish only tactically, looking for bounces in SPY, MSFT, GOOGL, AMZN, NFLX, PLTR, SNDK, and MU at specific chart levels while noting that a few AI/memory names are still holding up.
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Benjamin P opens with a broad market read: Microsoft, Google, Netflix, and Amazon are weak, the S&P 500 is still under pressure, but a handful of AI and memory names such as Nvidia, ARM, SanDisk, and MU are showing relative strength. His core thesis is not a macro call on the economy; it is a tactical, chart-based attempt to buy oversold names at support after a one-day or multi-day selloff. He repeatedly frames the setup as “beaten down” stocks potentially bouncing if broader market support holds. The first part of the video walks through SPY and sector/index context. He says the S&P 500 is trading below a key area and identifies a gap at 740.92 as his long level if selling continues. …
Near term, this is a classic oversold-bounce setup: watch whether SPY and the weakest mega caps hold their named support levels. If they fail, the tape likely stays pressure-filled and traders should wait for the next lower pivot rather than assume a bottom.
Over the next several weeks, the base case is a choppy mean-reversion phase in which beaten-down mega caps can rebound if broader index support stabilizes. Confirmation would come from reclaimed pivots and follow-through above the broken trendlines; failure would shift focus to deeper support zones.
Structurally, the video reflects a market where leadership is fragmented and technical structure matters more than broad bullish conviction. The durable implication is that even strong mega caps can become tradable on the downside when trend and momentum break, but only if price eventually confirms a new base.
The S&P 500 is weak and the speaker expects a long entry near the $740.92 gap if selling continues.
He says the index is staying weak and identifies a gap support level as the place to go long on further downside.
Microsoft is in a sell-off and the first long support level is around $366.82, with added accumulation down to about $362.44.
He argues the stock broke down through prior consolidation and trend-line resistance, making the prior support zone a likely bounce area.
Google's sell-off makes the next support zone around $334.72 to $339.21, with $339.21 also marked by prior gap and consolidation.
He says price failed at a gap resistance level and then points to prior pivots and consolidation as the next support area.
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