Nick Drendel
@NickDrendel
Technical Swing Trader
"Buy the stocks everyone wants at the price others sell at. Then place your stop."
393 Following 25.4K Followers
Daily Recap & Watchlist video is live!
- Memory Stocks Enter Stage 3 Tops
- $QQQ vs $SPY Flashes Warning Signal
- $XLE Energy Makes New All Time Highs!
- Long Setups: $SCCO $NET $SPCX etc.
- Short Setups: $MSTR $CRWV $CLS etc.
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Third unfilled gap down now from highs on $QQQ, but structurally this still looks fine. Breakout retest to the 20EMA/SG can keep the uptrend in place.
$TSM - Another semiconductor struggling after making new highs. Earnings Thursday before the open.
$NBIS - Last thing you want to see after closing above a key level is an unfilled gap down. A second one is even worse. A third... yikes.
Got pushed out of some names this morning while the $QQQ vs $SPY chart loses the 20MA and environment now shifts to undercut & reclaim buys only (no breakouts)
Remembering the Memories today $SNDK $MU $WDC $STX
$NVDA $LITE Can't allow these to turn into false breakouts.
$XLE - New all time highs!
Weekend Outlook & Watchlist video is live!
- Week Review of Indexes, Industry ETFs & Leaders
- Market Stalls at New Highs, Semis Pullback
- Breadth Improves as Bond Yields Fall
- Long Setups: $AMD $FORM $OUST etc.
- Short Setups: $CRWV $BWET $CBRS etc.
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Weekend Outlook & Watchlist video is live!
- Week Review of Indexes, Industry ETFs & Leaders
- Market Stalls at New Highs, Semis Pullback
- Breadth Improves as Bond Yields Fall
- Long Setups: $AMD $FORM $OUST etc.
- Short Setups: $CRWV $BWET $CBRS etc.
Show more
$IGV Software ETF getting to new rally highs just in time for the 200SMA to start sloping up.
It's been a grind higher, but hopefully a bit smoother now so many names are back in uptrends.
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Quick snapshot of positioning this weekend:
S&P 500 - Large speculators increase short offset a bit by small specs increasing their long. Net specs positioning stays short.
Nasdaq - Speculators increase their long position to the most extreme levels in the last 5 years ⚠️
Dow - Long position for speculators continues to pull a bit more neutral this week.
Russell - Large specs increase their shorts position to the largest levels since August of 2025 👀
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Liquid stocks that made new 52 weeks high Friday & doubled over the past year. Sorted by Avg $ Volume:
$1B+: LITE, PLTR, MRNA, V, VLO, HPE, MPC, ABBV
$250M+: ANET, PSX, DDOG, OKTA, FTNT, SHEL, TEAM, PBR, HUM, DT, DINO, XP
$50M+: SU, FFIV, FRO, S, EXPD, TEVA, PBR.A, NTNX, HNGE, ACA, INSW, BOX, HAE, CVI
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Small increase to new 52 week highs over last week (35 vs 33). Money just shuffling out of Tech into Energy & Healthcare as semiconductors pulled in later in the week.
We have liftoff! New highs come back in a real way (33 vs 12) on Friday with the majority coming from tech (which is the ideal sector for growth traders.
Like $FAST with an ADR of 1.8%
I hate when an awesome ticker like $BULL is wasted on a crappy stock like $BULL.
Awesome action today out of the software & cyber groups today. We are still in the cycle of EITHER software OR semiconductors rallying, so next week should be semis turn 🤞
$SNOW $PLTR $OKTA $NET $NTSK $ZS $TENB $FROG $TWLO
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$FSLY - Nice to see a big base like this building higher lows on the rising 50SMA.
I hate when an awesome ticker like $BULL is wasted on a crappy stock like $BULL.
We have liftoff! New highs come back in a real way (33 vs 12) on Friday with the majority coming from tech (which is the ideal sector for growth traders.
