Today's U.S. Stock Market Technical Analysis 1. SPY (S&P 500 ETF) SPY showed significant strength today, successfully breaking through the dual resistance formed by 741 and the EMA 21. This is a relatively positive technical signal, indicating that short-term buyers are regaining control. However, the key resistance level at 748 is approaching. If it can continue to break through with volume, the next target will be in the 756–760 range. 2. QQQ (Nasdaq 100 ETF) QQQ is currently at the most critical point in the market. Although the index has seen a short-term rebound, it has yet to reclaim the dual resistance formed by 696 and the EMA 21, so the overall structure remains cautious. Today's candlestick closed lower than it opened, and the daily chart still shows a weak pattern. However, on the 1-hour chart, the price has reclaimed the 21-hour EMA and is attempting to form higher highs and higher lows. The short-term structure is showing improvement. Next week will be key for direction: 1. If it can break through and hold above 696 and the EMA 21, there’s hope for confirming the continuation of the short-term rebound. 2. If it faces resistance and falls back again without breaking the dual resistance, it may confirm a local top and resume a pullback, with potential targets around the 637–650 range. Since the seven major tech stocks carry significant weight, whether QQQ can break through will directly impact whether SPY can continue its upward correction. 3. IWM (Russell 2000 ETF) Still bearish for now, with a quadruple top divergence on the daily chart and trading below the EMA 21. 4. AMD AMD dropped 2% today, closing below the EMA 21. In the short term, it remains in a weak structure with a lower high and lower low pattern. Today's candlestick is crucial. If the next trading day breaks below today's low, it will confirm a top formation below the EMA 21, further strengthening the bearish structure. It could potentially revisit the $400 level. If it can break above today's high and reclaim the EMA 21, then today's pullback might just be a normal retracement, with a chance to resume the upward trend. If it successfully breaks out upward, it might even retest its historical high and aim for $600. Next week, all eyes will be on whether it can effectively break through the $516 high. A successful breakout at this level would force the bears to cover their positions.