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Today's market presents a landscape of dynamic movements and strategic patterns. SPY is experiencing its steepest correction in several months, confined within a falling wedge formation that intersects a significant demand zone. Anticipation is high as it seeks liquidity, potentially targeting a substantial gap at higher levels. Meanwhile, Palantir continues its bullish momentum, achieving significant gains despite early setbacks. Plus Netflix gets rid of it’s cheapest ad-free plan.

Let’s dive into the charts! 

* MARKET INTEL *

SPY

SPY is seeing its steepest correction in several months, dropping in a falling wedge that perfectly intersects the corner of the closest large demand zone.

We anticipate it will continue reaching for that liquidity, possibly even filling the massive gap at 540.

* PLTR *

Palantir

Palantir continues its heroic bull run today in a spectacularly volatile session with a range that saw as much as a 6% gain.

Despite a brief moment in the red, the 28.2 demand zone provided a launch pad to the 28.87 level, closing bullishly above the 50 EMA.

* DXY *

U.S. Dollar Index

The dollar has performed a textbook cup and handle pattern, with the 104.2 level and relatively small supply zone ready to create a larger handle or launch past and begin a major reversal.

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* MARKET INSIGHTS *

Economic Vibe

Movers & Shakers

• D.R. Horton Inc (DHI) +10.101%

• Dominos Pizza Inc (DPZ) -13.572%

• Grail Inc (GRAL) -14.632%

* HEADLINES *

Top Reads

• Top Officials Suggest Fed Is Closer—but Not Yet Ready—to Cut (Wall St Journal)

• Continuing unemployment claims hit highest level in more than 2 years (Marketplace)

• Samsung Electronics and striking union to resume talks on Friday (Reuters)

• Netflix is getting rid of its cheapest ad-free plan (Yahoo Finance)

• The stock market is flashing warning signs as tech shares are a 'valuation timebomb,' SocGen says (Yahoo Finance)

• Investors can expect a huge reveal on Nvidia's upcoming earnings call that could silence AI critics, Goldman Sachs says (Yahoo Finance)

• Chinese Investors Dump Record Amount of US Stocks and Bonds (Yahoo Finance)

* IDEA *

Strong Mental Game

KEY POINTS

• Learn to manage emotions like fear and greed to make rational decisions unaffected by market fluctuations.

• Develop the ability to bounce back from losses and setbacks, maintaining confidence and focus in your trading strategy.

• Practice patience in waiting for the right setups and opportunities, avoiding impulsive trades that can lead to losses.

• Stay adaptable and open to learning from both successes and failures, refining your trading approach over time.

* WISDOM BYTES *

Keep Pushing

Personal growth begins with taking necessary actions, often mundane or foundational tasks that form the bedrock of progress.

These initial steps may not be glamorous or immediately impactful, but they establish discipline, build habits, and lay the groundwork for more significant achievements.

As individuals persist and move forward, they start to explore what is possible within their current capabilities and resources.

This phase involves stretching beyond comfort zones, embracing challenges, and leveraging skills to their fullest extent.

The culmination of this journey is often characterized by moments where what was once deemed impossible becomes attainable.

The moral of the story - Keep pushing forward!

* DAILY DOSE *

Memes of the day

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