AVGO & GOOGL Test Support, Energy Breaks Out, Bitcoin Wobbles | CHART THIS

Описание: Markets delivered a constructive but still frustratingly neutral session on Wednesday, with the S&P 500 closing near 6880 and continuing to churn between 6800 and 7000. In today’s episode of CHART THIS, Dave Keller breaks down a market stuck in consolidation, with clear rotation beneath the surface.

Energy led the way as crude oil pushed higher and names like APA and Diamondback Energy extended bullish breakouts. Meanwhile, mega-cap growth remains under pressure, with Broadcom and Alphabet testing key support levels and the QQQ vs Dow ratio continuing to deteriorate.

Dave also explores Bitcoin’s potential pennant breakdown, a spike in the put-call ratio suggesting increased hedging activity, and what a decisive break above 7000 or below 6800 would imply for the next major move.

With growth rotating toward value and defensive sectors still in play, this episode focuses on leadership rotation, tactical levels, and how to stay disciplined in a rangebound environment.

⏱️ Chapters
00:00 Welcome and market overview
03:30 S&P 500 stuck between 6800 and 7000
07:00 Energy breakout: crude oil and APA
11:00 Sector rotation and defensive pullback
14:30 Mega-cap check: AVGO and GOOGL support levels
18:30 QQQ vs Dow ratio and growth-to-value shift
22:00 Put-call ratio spike and sentiment signals
26:00 Bitcoin pennant pattern and breakdown risk
30:00 Costco rising wedge and AT&T resistance
33:30 Key levels and final thoughts

📈 Topics Covered
• S&P 500 consolidation between 6800 and 7000
• Crude oil breakout and energy leadership
• Growth vs value rotation (QQQ vs Dow ratio)
• Broadcom and Alphabet testing major support
• Bitcoin pennant pattern and downside risk
• Put-call ratio spike and hedging activity
• Defensive sector rotation signals
• Rising wedge pattern in Costco
• Tactical downside level at 6800 and upside trigger at 7000
• Identifying breakouts in a sideways market

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