Alternate Trader

Income generation & Wealth building in stock markets using trends and technical analysis. Reading and acting on what charts tell. No opinions no predictions.

[Alternate Trader @AlternateTrader]

https://t.co/Ywc4j9NSRk

[Alternate Trader @AlternateTrader]

@unusual_whales Strange from Fortune. Markets go down 1 day and they think markets did not like Warsh?? Seems like someone had to write something and wrote lazily.

[Alternate Trader @AlternateTrader]

Yesterday's dip is likely a higher low. Looking at the $SPY chart - price dipped below the 20-day (red). However, the 20-day is still rising.

Pre-markets $SPY is higher so we have to wait and see if yesterday turns out to be a higher low.

The higher low phenomenon can be seen more clearly in the $RSP chart (2nd picture).

Price bounced off the 20-day and we see the classic higher high - higher low pattern.

#StockMarket still looks good.

[Alternate Trader @AlternateTrader]

https://t.co/Ywc4j9NSRk

[Alternate Trader @AlternateTrader]

@wallstengine Hmm, $ACN is getting desperate. There is nothing they can do other than to just see their business becoming smaller and smaller until it does not make any sense to be in this business.

[Alternate Trader @AlternateTrader]

@TradeBrigadeCo Azure is considered a commodity now. The challenge is how does $MSFT get out of the software business or prove their software has longevity.

[Alternate Trader @AlternateTrader]

Hmm .. $HOOD investors saw it as well. Price now decisively above the 200-day.

[Alternate Trader @AlternateTrader]

The $HOOD price has recovered somewhat and now just about hitting the 200-day moving average above (yellow curve).

Price is making higher highs and higher lows
Price also above the 20-day MA

There is momentum. Good chance of breaking through this resistance and continuing higher.

#Robinhood looking a lot better

[Alternate Trader @AlternateTrader]

The $HOOD price has recovered somewhat and now just about hitting the 200-day moving average above (yellow curve).

Price is making higher highs and higher lows
Price also above the 20-day MA

There is momentum. Good chance of breaking through this resistance and continuing higher.

#Robinhood looking a lot better

[Alternate Trader @AlternateTrader]

The financials $XLF finally breaking out is very positive. They have been somewhat in the doldrums for a while.

We can call that an inverse head-and-shoulders. It does not matter. I do see price is at an important level through which it needs to break out to retain the momentum.

#Financials

[Alternate Trader @AlternateTrader]

https://t.co/Ywc4j9NSRk

[Alternate Trader @AlternateTrader]

This is striking. From @semafor

[Alternate Trader @AlternateTrader]

Anthropic has taken the lead over OpenAI. Will be interesting to track this.

From @semafor

[Alternate Trader @AlternateTrader]

https://t.co/nswxNBpEqu

[Alternate Trader @AlternateTrader]

I do not know what caused this selloff.

But seems like the streets think the AI trade can wait.

We need to see what happens with the ME war, the inflation and even the SpaceX IPO.

Looking at the $SPX chart, the 50-day SMA is at around 7200 so we may get some support there.

The next support is at around 7000 even.

#StockMarket weak

[Alternate Trader @AlternateTrader]

The $QQQ (and the $SPY) has made a lower low. I am out of the market. The trending looks like this now:

🔴Price is below the 20-day SMA
🔴The 20-day has just started falling
🔴Price made a lower low

Recommend protect your gains. I did.

[Alternate Trader @AlternateTrader]

Reviewing the $QQQ for this week.

🔴Price is below the 20-day SMA
🟢The 20-day is still rising (barely)
🟢Price maintaining higher high and higher low

The fall on Friday was sharp and strong. The question is whether that was
1) a false alarm/panic
2) too much too fast
3) or indication of weakness to come

As of now the trend remains bullish although I would like to see the price go back above the 20-day (red curve in chart) quickly.

There is a lot of speculation in the market on the impact of cash being hoarded for the SpaceX IPO, the inflation numbers coming out later this week and of course the ME war.

I am just watching price action and making my decisions. Predicting what may happen is not going to get me anywhere.

The AI trade remains intact for now. I have not seen anything to tell me anything has changed.

#StockMarket

[Alternate Trader @AlternateTrader]

The $CRWD price action has been straight up, then straight down just a bit until the bounce today off the 20-day SMA.

#Crowdstrike

[Alternate Trader @AlternateTrader]

Reviewing the $QQQ for this week.

🔴Price is below the 20-day SMA
🟢The 20-day is still rising (barely)
🟢Price maintaining higher high and higher low

The fall on Friday was sharp and strong. The question is whether that was
1) a false alarm/panic
2) too much too fast
3) or indication of weakness to come

As of now the trend remains bullish although I would like to see the price go back above the 20-day (red curve in chart) quickly.

There is a lot of speculation in the market on the impact of cash being hoarded for the SpaceX IPO, the inflation numbers coming out later this week and of course the ME war.

I am just watching price action and making my decisions. Predicting what may happen is not going to get me anywhere.

The AI trade remains intact for now. I have not seen anything to tell me anything has changed.

#StockMarket

[Alternate Trader @AlternateTrader]

The Bitcoin $BTC trend remains bearish despite the move up over the weekend.

The chart provides us the levels to watch:

60k on the downside where there seems to be buyers for now.

83k to the upside where price stalled.

Until either of these 2 levels are taken out, $BTC can be traded.

#Bitcoin

[Alternate Trader @AlternateTrader]

@wholemars I think it is more like SpaceX does not need all the compute it has. Wonder if they are giving up on competing in the general AI LLM market and focusing more on AI apps for robotics, etc. That would make sense.

[Alternate Trader @AlternateTrader]

https://t.co/cKFWEbbg1A

[Alternate Trader @AlternateTrader]

From Markets AM @WSJ

Buyers now allocate 42% of their incomes to housing costs, according to the Burns Affordability Index, which is calculated based on a 10% down payment on a median-priced existing home. This is still extremely unaffordable, but better than in late 2023, when the ratio hit 48%.