$META $AMD and $QQQ Are Showing Signs of a Short Term Reset
The broader market structure remains bullish, but several major names are now showing signs that a short-term pullback could be coming.
Rather than chasing strength, the current strategy is to stay patient and wait for better entries. 👀
$Meta Platforms, Inc.(META)$ continues to compress, with price now back inside what I consider the optimal smart-money buying zone.
The setup is becoming more interesting, but confirmation is still needed.
$Advanced Micro Devices(AMD)$ is behaving as expected. 📊 The daily chart continues to print lower highs while repeatedly rejecting the institutional sell zone.
I still expect the stock could see roughly a 20% decline before establishing a meaningful bounce.
If that happens, I’ll update the next buy zone.
For $Microsoft(MSFT)$ , profits were taken off the table on August 4 after a 30% gain.
The larger market structure remains bullish, and I still believe MSFT could retest its all-time high over the next 90–120 days. But there is no reason to chase it here. I would rather wait for a short-term pullback and reassess. 🔎
$Amazon.com(AMZN)$ is similar.
The trade was closed after the earnings gap higher, locking in the move while the structure remains bullish.
A return to all-time highs over the next 90–120 days remains possible, but I would prefer to become a buyer again only if price retraces into the preferred buy zone.
⚠️ $Invesco QQQ(QQQ)$ is the broader level to watch.
The $710 volume shelf needs to hold. If it breaks, the market could experience another short-term correction and potentially create better entry points across several names.
The longer-term bull cycle is still intact. 🐂 The key is not to confuse a healthy correction with a trend reversal.
And that's the bigger lesson: there is nothing wrong with taking profits. $COHR is already down roughly 20% from its recent high, showing why preserving gains and waiting for the next setup can matter just as much as finding the original trade.
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