Worst July in 22 years incoming?
QQQ is down 3% on the month and the chart is telling a clear story — let's break down what happens next.
After peaking near $755 in June, QQQ has been compressing inside a symmetrical triangle, making lower highs and higher lows. That compression is now reaching its apex — and with the US completing six consecutive nights of strikes on Iran and semiconductors leading the selloff, price is pressing hard on the lower boundary.
The level to watch is $696. That's the floor of the triangle and the last line of defence before this becomes a real breakdown. A daily close below it opens the door to $640 — the rising 200-day moving average which sits roughly 9% lower from current price.
The bear case is simple: geopolitical re-escalation keeps pressure on risk assets, semis continue to unwind, and $696 breaks. $640 becomes the next destination.
The bull case relies entirely on earnings. Alphabet reports Tuesday night — if Google Cloud confirms AI demand is still accelerating, buyers step back in and QQQ reclaims $720+. That would invalidate the breakdown and shift the structure back in the bulls' favour.
Watch $696 closely. The reaction there will tell you everything about where July ends.
Hope you liked the analysis, make sure to follow for more
ETF market
$SPY & $SPX — Levels and Scenarios for Friday, July 17, 2026🔮 AMEX:SPY & SPCFD:SPX — Levels and Scenarios for Friday, July 17, 2026
📊 Key U.S. Economic Data (ET)
10:00 AM | Prelim UoM Consumer Sentiment | Forecast: 51.0 | Previous: 49.5
10:00 AM | Prelim UoM Inflation Expectations | Previous: 4.6%
⚠️ For informational purposes only. Not financial advice.
📌 #ConsumerSentiment #InflationExpectations
SMH (Chip stock ETF) UpdateSMH is sitting right at support, if it breaks it's gonna take the whole market with it.
I expected a bigger reaction to the NY moratorium yesterday, big tech can buy all the memory chips it wants but they're not gonna be able to build data centers if localities won't let them. Backlash building up against data centers due to high water and electricity usage while creating very few local permanent jobs, there's now a NIMBY mentality towards them.
I'm short on silver, not SMH. Too volatile for me.
The End of Semiconductor Stocks (SOXX Head and Shoulders PatternAlong with the crash of Micron, SOXX, which had been plummeting for the past few weeks, finally broke down below the neckline of its head and shoulders pattern today. Due to this, technical analysis indicates a potential further crash of up to approximately 20%. The relentless rise has ended up causing a sharp drop in the short term.
I hope it does not turn out that way. For that to happen, a strong rebound going back above the neckline must occur within today or tomorrow.
Semiconductors under pressure Chipmakers are under pressure with the VanEck Semiconductor ETF (SMH) dropping roughly 3% today. The ETF is inside a bull flag, which could turn into a bearish channel if the dip-buyers don't show up here. It has already bounced rom 570ish, so another dip below that level wouldn't be particularly bullish, would it?
This applied pressure on US indices, in particular the Nasdaq 100. Several US and international semiconductor names traded lower today. It looks like the rally in artificial intelligence-related stocks appears to be losing some momentum after months of almost uninterrupted gains. Given the pace of the prior advance, some consolidation was always likely. But there are some investors who are increasingly questioning whether the enormous sums being committed to AI infrastructure can generate sufficient returns within a reasonable timeframe. That being said, rather than signalling the end of the AI trade, the recent weakness could simply reflect a period of portfolio rotation. After an exceptional run, some investors may prefer to lock in profits from richly valued semiconductor names and reallocate capital towards sectors offering more attractive valuations and steadier earnings visibility.
By Fawad Razaqzada, market analyst with FOREX.com
$VOO — Rising Lows with ResistanceThe current chart of AMEX:VOO shows a pattern of rising lows, indicating potential upward momentum, but it's also facing clear resistance. To confirm if this trend is sustainable, we need to observe how market forces interact with these levels. The next move will be crucial in determining whether the short-term trend is positive or negative.
Not financial advice.
$QQQ — Converging Triangle PatternThe NASDAQ:QQQ is exhibiting a converging triangle pattern, characterized by rising lows, similar to the $SPY. This pattern suggests a potential breakout or continuation of the trend. The reasoning behind this setup is that the rising lows indicate buying interest and a possible reversal of the downtrend. A significant market decision is expected, which could lead to a breakout or a continuation of the current trend. To confirm this idea, we would need to see a decisive move above the triangle's resistance or a break below the support level.
Not financial advice.
SPY Is Coiling Right Under The Two-Week Ceiling.SPY Is Coiling Right Under The Two-Week Ceiling.
SPY held its reclaim and is pressing 754.81, sitting just beneath the 755.66 ceiling it has fought for two weeks. Unlike BTC and NVDA, it did not make and lose a new high - it is coiling directly under resistance with the setup building underneath: the daily thesis is a long with strong Q1 conviction, structure is bull, and the entry signal is forming. The one caution is an NR7 anti-signal, the tightest range in seven bars, a compression that resolves into an expansion. This is the one name where a break carries an edge, and it is the closest it has been to the trigger. A confirmed close above 755.66 is the event. Not there yet.
Resistance: 755.66 - the two-week ceiling
Key resistance: 760.40 - open air above
Current price: 754.81
Support: 751.00 - first hold
Key support: 748.00 - interior support
Structural floor: 739.34 - the swept low
Two paths from here:
The coil breaks up through 755.66 on a close. If SPY clears and holds the ceiling, two weeks of range resolves upward toward 760 and the long lean unlocks on the one instrument where a break carries an edge. The NR7 says the expansion is close.
The compression resolves down. NR7 cuts both ways - a rejection at 755.66 and a loss of 751 sends the expansion lower toward 748 and 740. The trigger is the close, not the poke.
SPY is the cleanest setup on the board - coiled right under the level with structure and conviction on side and the entry forming. NR7 says the move is imminent. A confirmed break of 755.66 is the leanable event; the compression just tells us it is coming soon.
Built with SYNTHESIS v3.3 | SOM / ACE / IMP / SYNTHESIS
Study, not financial advice.
Research 16.07.2026🌏 Markets:
AMEX:SPY -2.08 -0.28%(pre/m)
NASDAQ:QQQ -6.20 -0.86%(pre/m)
🆕 Economic News:
08:30 USA – Retail Sales
08:30 USA – Philadelphia Fed Manufacturing Index
10:00 USA – Business Inventories
10:00 USA – Housing Market Index / Pending Home Sales
📈 Gap Ups
Reaction to earnings/guidance:
NASDAQ:JBHT NYSE:UNH NYSE:CFG NYSE:PLD NYSE:ABT NYSE:STT
Other news:
NYSE:LLY to acquire NASDAQ:ATAI for $6.75 per share in cash upon closing; plus up to $2.50 per share in the form of a Contingent Value Right (CVR) entitling the holder to additional cash payments upon achievement of specified development and regulatory milestones
NASDAQ:GHRS gains on optimism surrounding potential Eli Lilly-Atai deal
NASDAQ:BIDU advances Hong Kong dual primary listing plans, shares climb
Warren Buffett Says Alphabet NASDAQ:GOOGL Can Beat 95% of Wall Street Stock Picks
NYSE:NVO Stock Rises After Wegovy Pill Captured 89% of U.S. Prescriptions
NASDAQ:AAPL Intelligence edges closer to China with NYSE:BABA Qwen integration
📉 Gap Downs
Reaction to earnings/guidance:
NYSE:TSM NYSE:GE NASDAQ:UAL NYSE:USB NASDAQ:BULL
Other news:
Memory stocks rallied Tuesday after NYSE:IBM said customers were shifting spending toward AI servers, storage and memory. : NASDAQ:MU NASDAQ:SNDK NASDAQ:WDC NASDAQ:SKHY NASDAQ:STX
NASDAQ:ASTS : A poor couple of months for the satellite-broadband company was being compounded by the announcement of a convertible debt offering - Barrons
NYSE:TSM TSMC and AI stocks fall despite upbeat earnings as investors weighed a sharply expanded capital spending plan against near-term margin pressure. : NYSE:UMC NASDAQ:AMD NASDAQ:INTC NASDAQ:NVDA NYSE:GLW NASDAQ:AAOI NASDAQ:ARM NYSE:COHR NASDAQ:MRVL NASDAQ:AEHR NASDAQ:AMAT
‼️ Additional
Nvidia NASDAQ:NVDA partners with Japan robotics firms on AI development
-- Japan will purchase 27,500 Nvidia Rubin chips to develop AI for robotics.
-- Nvidia: partnership with Fujitsu, Fanuc, Yaskawa Electric, Kawasaki, and Hitachi.
Warsh told Congress that US inflation will not remain elevated.
NYSE:UBER announced a public takeover offer for Germany’s Delivery Hero.
-- The company is offering $14.8 billion, representing a 35% premium to the three-month volume-weighted average price.
-- The merger would create the world’s largest food delivery company outside China.
SpaceX NASDAQ:SPCX shares fell below their IPO price, while the lock-up period expires in early August, creating a potential overhang of 911 million shares — RTRS.
Strategy NASDAQ:MSTR would only start to become concerned if CRYPTOCAP:BTC falls to the $8,000–10,000 range — CEO.
Anthropic will hold meetings with investors in the coming weeks ahead of its upcoming IPO.
🏢 IPO
NYSE:CSQR – Csquare, Inc.
Company operates carrier-neutral data centers providing colocation and interconnection services for enterprise, network, cloud and technology customers. Its platform includes 64 sites across 21 major metro markets in the U.S., Canada and the U.K., serving 1,700+ customers. Core thesis is rising demand for digital infrastructure, low-latency connectivity, cloud workloads and AI/data center capacity.
Price: $21.00
Shares: 50.0M
Raised: $1.05B
Market Cap: ~$3.25B
LTM:
Revenue: $1.02B
Net Income: -$150.9M
Comparable public companies: NASDAQ:EQIX , NYSE:DLR , NYSE:IRM , NYSE:AMT , NYSE:CCI , NASDAQ:SBAC
NYSE:STDN – Standard Nuclear, Inc.
Company manufactures advanced nuclear fuel, mainly TRISO fuel, used by next-generation nuclear reactors, including some SMRs and microreactors. Standard Nuclear operates industrial-scale TRISO production facilities in the U.S. and is already producing and shipping fuel for advanced reactor demonstrations. Core thesis is rising demand for domestic nuclear fuel supply, energy security and new nuclear infrastructure.
Price: $15.00
Shares: 10.0M
Raised: $150.0M
Market Cap: ~$2.41B
LTM:
Revenue: $3.36M
Net Income: -$15.0M
Key point:
IPO was downsized from the original $18.00–$21.00 range and 18.25M shares to $15.00 and 10.0M shares.
Comparable public companies: NYSE:LEU , NYSE:CCJ , AMEX:UUUU , NYSE:OKLO , NYSE:SMR , NYSE:BWXT
🏢 Direct Listing
NASDAQ:QMLS – QumulusAI, Inc.
Company provides GPU-powered cloud infrastructure for AI workloads, mainly targeting small and mid-market customers that may be underserved by large hyperscalers. QumulusAI currently operates GPU infrastructure across colocation data centers and plans to scale its HPC business, while reducing reliance on legacy blockchain operations. Core thesis is fast deployment of AI compute capacity, GPU-as-a-Service demand and repurposing power/data center assets toward HPC workloads.
Listing Type: NASDAQ Direct Listing
Shares Offered: up to 39.5M
Raised: $0 — Direct Listing, no new capital raised
Reference Price: not set
Prior Share Issuance Range: $3.00–$23.15
LTM:
Revenue: $11.85M
Net Income: -$93.7M
Key point:
Current business still has meaningful blockchain exposure, but company expects HPC compute revenue to exceed blockchain revenue in 2026.
Comparable public companies: NASDAQ:CRWV , NASDAQ:IREN , NASDAQ:CORZ , NASDAQ:CIFR , NASDAQ:APLD , NASDAQ:BTBT
📋 List of tickers involved:
NASDAQ:JBHT NYSE:UNH NYSE:CFG NYSE:PLD NYSE:ABT NYSE:STT NYSE:LLY NASDAQ:ATAI NASDAQ:GHRS NASDAQ:BIDU NASDAQ:GOOGL NYSE:NVO NASDAQ:AAPL NYSE:BABA NYSE:TSM NYSE:GE NASDAQ:UAL NYSE:USB NASDAQ:BULL NYSE:IBM NASDAQ:MU NASDAQ:SNDK NASDAQ:WDC NASDAQ:SKHY NASDAQ:STX NASDAQ:ASTS NYSE:UMC NASDAQ:AMD NASDAQ:INTC NASDAQ:NVDA NYSE:GLW NASDAQ:AAOI NASDAQ:ARM NYSE:COHR NASDAQ:MRVL NASDAQ:AEHR NASDAQ:AMAT NYSE:UBER NASDAQ:SPCX NASDAQ:MSTR CRYPTOCAP:BTC NYSE:CSQR NASDAQ:EQIX NYSE:DLR NYSE:IRM NYSE:AMT NYSE:CCI NASDAQ:SBAC NYSE:STDN NYSE:LEU NYSE:CCJ AMEX:UUUU NYSE:OKLO NYSE:SMR NYSE:BWXT NASDAQ:QMLS NASDAQ:CRWV NASDAQ:IREN NASDAQ:CORZ NASDAQ:CIFR NASDAQ:APLD NASDAQ:BTBT
Best regards – hi2morrow team.
XLF - 50 SMA Breakout and Big Bowl Pattern💡 Swing setup idea
Big bowl pattern
🔎 Analysis summary:
The financial sector is moving above the 50 SMA and closing a large bowl pattern. We can also see strong, above-average buyers volume stepping in, which helps support the move.
👀 Levels to watch:
Entry trigger: Break above $56.50
Target: $65.35
Stop: Under the breakout level
💬 What do you think about XLF here? Let me know in the comments! 👇
Good luck!
⚠️ Note: This is for educational purposes only and is not financial advice.
QQQ Expectations for End of Year 2026This is my projected roadmap for QQQ through the remainder of 2026 based primarily on price action, market structure, and long-term trend channels.
After breaking out from the recent consolidation triangle, I expect QQQ to continue making higher highs and higher lows while respecting the ascending channel. Rather than anticipating a straight move higher, my base case is a series of healthy pullbacks that allow momentum to reset before continuing the uptrend.
Key Levels
Support: ~$705
Major Support: ~$686
Resistance 1: ~$725
Target 1: ~$764
Target 2: ~$843+
My expectation is that QQQ reclaims the $725 resistance, works toward the mid-channel near $760–770, and, if bullish momentum remains intact, finishes the year in the $840–860 range.
Invalidation: A sustained break below the $685 support zone would weaken this bullish outlook and increase the probability of a deeper correction.
My price targets for 07/15/2026 For research purposes only. This is not investment advice. Past performance is not indicative of future results. Do your own Due Diligence.
----Main Target----
CBOE:CNAV
Trading date: 07/15/2026
Target price: $43.83
Target gain: +1.00%
Previous close: $43.40
----Other Potential Targets----
NASDAQ:DLLL
Trading date: 07/15/2026
Target price: $27.73
Target gain: +1.00%
Previous close: $27.46
CBOE:XLIX
Trading date: 07/15/2026
Target price: $26.79
Target gain: +1.00%
Previous close: $26.52
$SPY & $SPX — Levels and Scenarios for Thursday, July 16, 2026🔮 AMEX:SPY & SPCFD:SPX — Levels and Scenarios for Thursday, July 16, 2026
📊 Key U.S. Economic Data (ET)
8:30 AM | Core Retail Sales m/m | Forecast: 0.0% | Previous: 0.8%
8:30 AM | Philly Fed Manufacturing Index | Forecast: 12.7 | Previous: 10.3
8:30 AM | Retail Sales m/m | Forecast: 0.2% | Previous: 0.9%
8:30 AM | Unemployment Claims | Forecast: 216K | Previous: 215K
Speakers
9:00 PM | President Trump speaks
⚠️ For informational purposes only. Not financial advice.
📌 #RetailSales #JoblessClaims
SPY Pullback Expected! Sell!
Hello, Traders!
SPY is testing a horizontal supply area where Smart Money may distribute positions. Rejection from this premium zone could trigger a bearish move toward the next demand level. Time Frame 4H.
Sell!
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Mvll againJob 36:11 — "If they obey and serve him, they shall spend their days in prosperity, and their years in pleasures."
MVLL — the obedient shall be served.
Those who entered early shall spend their days in prosperity.
33 is not a number. It is a completion. A perfection.
The years in pleasure await.
XLV Long — Healthcare's pullback looks like a launchpad, not a…XLV is a pullback long with a strong intraday reversal trigger and favorable reward back toward resistance. The sector tape is constructive enough to treat this as more than a mechanical bounce, especially with healthcare leadership and policy tailwinds appearing in the news flow.
📍 Entry: 158.93
🛑 Stop: 156.92
🎯 Target: 165.60
⚖️ R:R: 3.32






















