Tim Knight's Island Reversal Call Played Out and Tech Just Cracked

The call played out. Tim Knight flagged an island reversal in tech a day earlier, and today it worked, the XLK and QQQ rolled over, giving back days of gains, and the S&P confirmed a genuine failed breakout after Tuesday's push went limp. Semiconductors had their worst day in weeks, down about 4% off the midline resistance he'd emphasized. With the Dow up and small caps barely down, his picked shorts are massively outperforming, one of his best days of the year. 📊 tastylive: https://www.tastylive.com/ 📰 Get Tom's pre-market analysis every morning: https://www.tastylive.com/newsletters 📘 FREE Options Strategy Guide: https://tinyurl.com/bp9ms763 📱 Follow tastylive on X: https://x.com/tastyliveshow Chapters 00:00 Thumbing through the charts 00:20 A genuine failed breakout now 01:10 Only the AI trade holds it up 02:00 The Dow up, small caps barely down 02:40 My shorts are crushing it 03:10 Semis drop off the midline 03:40 The island reversal worked 04:20 The XLK gives back the gains 05:00 The QQQ reversal played out too 06:00 Bonds rally, rates drop #tastylive #timknight #tradingcharts #islandreversal #xlk #semiconductors #failedbreakout #shortselling #technicalanalysis #stockmarket tastylive is a real financial network, producing hours of live programming every day. Follow along as our experts navigate the markets, provide actionable trading insights, and teach you how to trade. With over 120 original segments, and over 25 personalities, we'll help you take your trading to the next level, whether you are new to trading or a seasoned veteran. tastylive content is created, produced, and provided solely by tastylive, Inc. ("tastylive") and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, digital asset, other product, transaction, or investment strategy is suitable for any person. Trading securities, futures products, and digital assets involve risk and may result in a loss greater than the original amount invested. Investment information provided may not be appropriate for all investors and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. Options, futures, and futures options are not suitable for all investors. Prior to trading securities, options, futures, or futures options, please read all applicable risk disclosures, including, but not limited to, the Characteristics and Risks of Standardized Options Disclosure and the Futures and Exchange Traded Options Risk Disclosure Statement found at https://tastytrade.com/disclosures/. Past performance is not indicative of future results. Performance is not presented net of all commissions, fees, and expenses. Multi-leg option strategies incur higher transaction costs than single leg trades as they involve multiple commission charges. Examples provided are for illustrative, informational, and educational purposes only and are not intended to be reflective of results you can expect to achieve. Supporting documentation for any claims, including claims made on behalf of options programs), comparisons, statistics, or other technical data, if applicable, will be supplied upon request. tastylive, through its content, financial programming or otherwise, does not provide investment or financial advice or make investment recommendations. tastylive is not a licensed financial adviser, registered investment adviser, or a registered broker-dealer.