Friday Mailbag: Is This Breakdown for Real? | CHART THIS

The S&P 500 breaks below Dave's key 7,600 line in the sand as Technology gets crushed, the VIX surges above 20 and investors increasingly rotate away from mega cap growth. On this Friday Mailbag edition, Dave explains how he confirms a legitimate support break, whether support and resistance levels lose importance over time, and whether the Magnificent Seven ETF is forming a head and shoulders top. He also tackles how 24 hour trading could change technical analysis, why Alphabet continues to struggle despite strong cloud growth, and how PPO and MACD can help identify potential bottoms after a major decline. *Charts Discussed:* S&P 500, Gold, MAGS, GOOGL, META 🎓 Take Dave’s FREE course on behavioral investing: https://www.marketmisbehavior.com/fre... 📘 Check out Dave’s recommended reading list: https://www.marketmisbehavior.com/rea... 🚀 For individual investors looking to sharpen their research: Koyfin helps you stay on top of upcoming earnings and dig into ETF holdings, all alongside powerful market data and portfolio tools. Enjoy 20% OFF all Koyfin plans at https://marketmisbehavior.com/koyfin 👉 Follow Dave on X: https://x.com/DKellerCMT 👉 Follow Dave on Bluesky: https://bsky.app/profile/dkellercmt.b... 👉 Follow Dave on Facebook:   / marketmisbehavior   👉 Follow Dave on Instagram:   / marketmisbehavior   The content in this presentation should not be considered as a recommendation to buy or sell any security. All information is intended for educational purposes only and in no way should be considered as investment advice. Some of the links in this description and in the video may be affiliate links, which means you pay nothing more and it helps me to make Market Misbehavior awesome! As an Amazon Associate, I earn from qualifying purchases. For full disclaimer, please see our website: https://www.marketmisbehavior.com/dis.... * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * 00:00 S&P 500 breaks 7,600 on a massive distribution day 05:11 Nasdaq plunges as the VIX surges above 20 06:01 Why gold is failing as a safe haven 09:18 How to confirm a legitimate break below support 14:58 Do support and resistance levels lose importance over time? 17:33 Is the Magnificent Seven forming a head and shoulders top? 24:14 How 24 hour trading could change technical analysis 28:12 Why Alphabet is getting crushed despite strong cloud growth 31:17 Using PPO and MACD to identify potential market bottoms