$SPY Rejects Sell Zone; $IREN $30 Becomes the Key Level
Hey everyone ๐
A few updates on the names Iโm watching closely right now. The overall picture hasnโt changed much, but some levels are becoming increasingly important. ๐ฏ
๐ $SPDR S&P 500 ETF Trust(SPY)$ โ Still Bullish, But Watching September
$SPY is currently rejecting right inside the Smart Money Sell Zone.
I remain long-term bullish, but Iโm still expecting a 2%โ3% correction in September.
For me, that doesn't change the bigger trend. Iโm simply not interested in chasing strength when price is approaching an area where sellers have previously stepped in.
โ ๏ธ $IREN Ltd(IREN)$ โ $30 Is the Line in the Sand
$IREN needs to hold $30.
That level is important for two reasons: itโs the last major level on the volume profile and also lines up with a key structural zone.
If $30 breaks decisively, Iโd expect a relatively fast move toward $20, which would bring price back into the Monthly Smart Money Zone.
So right now, $30 is the level to watch. ๐
๐ฐ $ServiceNow(NOW)$ โ Taking Some Profit
$NOW is up roughly 50% since the video I shared, so Iโm now taking some shares off the table.
I still think $170โ$180 is possible over time, but the short-term setup looks extended.
Because I entered later, Iโm only booking around 30% of the position.
And respect to everyone who managed to hold the entire move. ๐๐ฅ
๐ $Marvell Technology(MRVL)$ โ Still Bullish, Just Not Chasing
$MRVL remains in a bull cycle.
Iโm simply going to stay patient and see whether price can come back toward my preferred buy zone over the next couple of months.
Iโm not bearish on $MRVL.
I just don't want to overpay for a stock when I can wait for a better entry.
Thatโs really the theme across these names right now:
Stay bullish where the trend supports it, but let price come to you. ๐ฏ๐
Hope everyone has a great trading week ahead! ๐
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

