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MSFT's earnings report is critical. As one of the giants footing the bill for the AI narrative, their capital expenditures haven't slowed down, easing market concerns that AI spending is too huge to be sustainable
$MSFT
As crude oil rallies, gold dropped sharply after priced in the pause on rate hikes, erasing the past two days' gains. This means the trend has reversed from buying dips yesterday to shorting rallies now. Weak support is around 4020-4030, 4000 is the psychological support zone
For day traders, it's recommended to lock in profits this morning on yesterday's bottom dips. Semiconductors should continue to rally early on, offering a chance to take profit. Expect a very volatile session today with a pull back after an initial spike
AH earnings came in: META dropped 10%, MSFT rose 3%, and HOOD fell 3%. To me, it looks like META is desperately trying to cover up its decline
$META $MSFT $HOOD