Good Morning! If you missed our last post, find it here.

This week, the SPY's rally shows impressive strength, marked by a significant gap up and movement through a narrow rising channel.

As it encounters key supply levels, we’re keeping an eye on possible corrections or further gains.

At the same time, the Dollar has made a dramatic bullish move, forming a symmetrical triangle between critical supply and demand zones.

This setup suggests a potential breakout, which could be significant.

Oil, meanwhile, is correcting after a notable double top.

Its current bullish pattern indicates a possible upside if it maintains above recent key levels.

Let’s dive into the charts! 

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* SPY *

S&P 500

The SPY continues its massive rally that began Monday last week, locked in a very narrow rising channel cutting right through supply, opening with a large gap up on Thursday.

Price is due for a correction at the 555.83 level, otherwise, it looks set to continue grabbing all of the supply liquidity first.

* DXY *

U.S. Dollar Index

The Dollar enjoyed a truly absurd 569-point bullish candle open on Thursday, immediately retracing half before trading in a range and forming a symmetrical triangle primed to violently breakout.

Directly in between supply and demand zones, it may want to finish grabbing closer supply liquidity, but it’s a safe bet whichever direction it breaks out will run hard.

* CL *

Oil Futures

Oil continues its correction from Tuesday where it left behind a massive double top in supply.

Trading in a slightly bullish, nearly symmetrical triangle, if it can continue holding the 76.71 level it looks ready to break to the upside, having broken above the trendline from Tuesday’s high.

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* MARKET INSIGHTS *

Economic Vibe

Movers & Shakers

• Ulta Beauty Inc (ULTA) +11.169%

• Super Micro Computers Inc (SMCI) +8.595%

• Marvel Technology Inc (MRVL) +8.685%

* HEADLINES *

Top Reads

• Why Medical Properties Trust Stock Crushed the Market Today (Yahoo Finance)

• Oil Edges Lower Amid China Demand Concerns (WSJ)

• California aims to tackle pump spikes by requiring gas reserves (Yahoo Finance)

• Connecticut residents outraged over ‘insane’ electricity bills (WTNH)

• Apple, Google wallets will soon support California driver’s licenses (Tech Crunch)

• Wrongful death suit against Disney serves as a warning to consumers when clicking 'I agree' (Yahoo Finance)

• PayPal Stock Rising Toward Buy Point Amid Strong Profit Growth (Investors)

• Kroger plans to lower prices by $1 billion after Albertsons merger closes (Yahoo Finance)

• Warren Buffett Still Holds 400M Apple Shares, Reveals New Investments In Ulta Beauty And Heico (Yahoo Finance)

* FUTURES *

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* WISDOM BYTES *

Don’t dwell on the past or dream of the future

Concentrate your mind on the present moment.

Life’s most profound experiences and achievements occur in the present moment.

The past, with its memories and regrets, often serves as a reminder of what was, but it no longer holds any power over our current reality.

Likewise, the future, filled with hopes and anxieties, remains uncertain and out of our immediate control.

Focusing on the present moment allows us to fully engage with our current experiences, making the most out of each opportunity.

By dwelling on the past, we may become trapped in a cycle of what could have been, stifling our ability to progress.

Conversely, obsessing over the future can lead to unnecessary stress and distract us from the actions we can take today.

The present moment is where life happens—it’s where our actions, decisions, and interactions unfold.

Concentrating our minds on the here and now helps us make thoughtful choices, appreciate our current experiences, and maximize our potential.

It’s about being mindful and fully engaged with whatever we’re doing at this very moment, rather than being distracted by what was or what might be.

* DAILY DOSE *

Memes of the day

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