Andrew McElroy

Creator of the 'Matrix Daily Edge'
Author of 'Fractal Market Mastery'
Contributor to 'Seeking Alpha'
See pinned tweet for free trial / Substack

[Andrew McElroy @MatrixTrade_]

The Matrix Daily Edge is published before each US session and outlines actionable ideas, directional bias, and important levels in the S&P500, commodities, crypto, and others. Free Trial - https://t.co/1qnNDk5gL2
Now also on Substack - https://t.co/WwDbWfOZJR

[Andrew McElroy @MatrixTrade_]

@FasuloAl close at the lows and bounce on Monday. Makes it almost impossible to buy the bottom

[Andrew McElroy @MatrixTrade_]

Nasdaq (QQQ) dead on the monthly and weekly lows, triggering a head and shoulders.
Dangerous, but last two Fridays it has made a new low, gets everyone bearish and then bounces on Monday.

[Andrew McElroy @MatrixTrade_]

Nasdaq (QQQ) dead on the monthly and weekly lows, triggering a head and shoulders.
Dangerous, but last two Fridays it has made a new low, gets everyone bearish and then bounces on Monday.

[Andrew McElroy @MatrixTrade_]

AMZN action today before earnings - 4%...they knew what was coming!!

[Andrew McElroy @MatrixTrade_]

To say that technicals have any predictive power over earnings assumes that insiders know the outcome and have been moving the stock enough for us to recognize it.

[Andrew McElroy @MatrixTrade_]

Happy with this call a few weeks back on GOOGL>It had a bullish pattern but something looked wrong and I avoided until today at $282 measured move

[Andrew McElroy @MatrixTrade_]

I think the key is to position early when there is an edge. Then just fingers crossed and manage the position when the numbers are released. Some of the best trades set up afterwards.

[Andrew McElroy @MatrixTrade_]

To say that technicals have any predictive power over earnings assumes that insiders know the outcome and have been moving the stock enough for us to recognize it.

[Andrew McElroy @MatrixTrade_]

To say that technicals have any predictive power over earnings assumes that insiders know the outcome and have been moving the stock enough for us to recognize it.

[Andrew McElroy @MatrixTrade_]

Today even topped the same time as last Wednesday. Still, I don't think that means the outcome will be the same, only that sentiment, expectations are.

[Andrew McElroy @MatrixTrade_]

Today is setting up almost exactly like last week's META/TSLA earnings, with Friday's new low and weak close, Monday's gap up and recovery, Tuesday's consolidation, and now Wednesday looking strong. Not only does the daily chart look similar, but the weekly chart has the same pattern as it had last Wednesday, and the size of the recovery is almost identical.

So, if the technicals are almost exactly the same, can we expect a different outcome?

[Andrew McElroy @MatrixTrade_]

@fuelmeupcc last Wednesday was META/TSLA, this week is GOOGL/MSFT

[Andrew McElroy @MatrixTrade_]

Today is setting up almost exactly like last week's META/TSLA earnings, with Friday's new low and weak close, Monday's gap up and recovery, Tuesday's consolidation, and now Wednesday looking strong. Not only does the daily chart look similar, but the weekly chart has the same pattern as it had last Wednesday, and the size of the recovery is almost identical.

So, if the technicals are almost exactly the same, can we expect a different outcome?

[Andrew McElroy @MatrixTrade_]

Semis (SOXX) Is it that easy? Just buy the 200sma and July low?

[Andrew McElroy @MatrixTrade_]

Micron (MU) has the right structure for a bottom. Not confirmed, yet, but could develop a reversal. Here's last week's chart calling for the entry at new lows.

[Andrew McElroy @MatrixTrade_]

and this

[*Walter Bloomberg @DeItaone]

ANTHROPIC IPO REPORTEDLY ON TRACK FOR NOVEMBER

Anthropic is reportedly preparing to file its S-1 registration at 9 a.m. ET Monday, with an IPO potentially taking place November 19–20, according to Fox Business.

Semiconductor stocks moved higher following the report, reflecting improved sentiment toward AI-related equities.

The key takeaway: A successful Anthropic IPO could provide a major test of investor appetite for AI valuations amid growing concerns over infrastructure spending and financing costs.

[*Walter Bloomberg @DeItaone]

ANTHROPIC IPO REPORTEDLY ON TRACK FOR NOVEMBER

Anthropic is reportedly preparing to file its S-1 registration at 9 a.m. ET Monday, with an IPO potentially taking place November 19–20, according to Fox Business.

Semiconductor stocks moved higher following the report, reflecting improved sentiment toward AI-related equities.

The key takeaway: A successful Anthropic IPO could provide a major test of investor appetite for AI valuations amid growing concerns over infrastructure spending and financing costs.

[Andrew McElroy @MatrixTrade_]

semis should like that

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Meta, $META, will raise up to $95 billion through a series of stock offerings in order to fund the development of AI.

The financing plan comes just days after Meta said it would spend up to $145 billion in CapEx this year.

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Meta, $META, will raise up to $95 billion through a series of stock offerings in order to fund the development of AI.

The financing plan comes just days after Meta said it would spend up to $145 billion in CapEx this year.

[Andrew McElroy @MatrixTrade_]

Equal weighted SPX (RSP) is green today. This was my call at the lows a few weeks back

[Andrew McElroy @MatrixTrade_]

6 of the 11 sectors positive today. So when tech drops, so do yields and all the yield sensitive stocks rally.

[Andrew McElroy @MatrixTrade_]

6 of the 11 sectors positive today. So when tech drops, so do yields and all the yield sensitive stocks rally.

[Andrew McElroy @MatrixTrade_]

Nasdaq (QQQ) view from earlier this week - bounced to 725ish target and should now be in a final capitulation.

[Andrew McElroy @MatrixTrade_]

Today's Daily Edge updates the long-term charts, proposes a path into the midterms, updates oil, QQQ and SOXX, and said this about today: "There should be a few swings in this range and the simple view says that the first leg up is complete at 7723 and a dip should set up a second leg to exceed it. The 7680s should really hold a downside spike at the open for that to play out"
https://t.co/1OseQ04xLA