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

Today's market opened with notable gaps, particularly in the Qs and Apple, impacting overall sentiment. Institutional demand is a key factor, with both sectors showing bearish momentum. We're closely monitoring price action around critical levels and trendlines for potential shifts in market dynamics.

Let’s dive into the charts!

* MARKET INTEL *

Triple Q’s

The Qs opened to an incredible 761-point gap right down to institutional demand, with a strong bearish candle taking out the 482.3 level.

The 480.4 level rests below, but with such bearish momentum, I wouldn't be surprised to price claim the bottom of this demand zone at 476.3.

* AAPL *

Apple Inc

Apple once again opens with a huge 517-point gap, this time leading the Nasdaq to the downside.

Price is bouncing at the top of institutional demand but clearly struggling to hold above a weeks-old trendline.

If it manages to break free there is little resistance for it to fill the gap and enter a large broadening wedge, otherwise it may seek to wipe out demand at the 223.3 level.

* GME *

GameStop

After 7 weeks of decline following its most spectacular price action in a year, GameStop has enjoyed 3 weeks of sheer climbing, slowing only at very strong historical institutional supply.

Half of the drop was immediately and aggressively reclaimed by a bounce at the trendline, potentially signaling much more bullishness to come.

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* MARKET INSIGHTS *

Economic Vibe

Movers & Shakers

• ASML Holding NV (ASML) -12.745%

• Advanced Micro Devices Inc (AMD) -10.206%

• Global Foundries Inc (GFS) +6.817%

* HEADLINES *

Top Reads

• The broadening stock market rally just flashed a super-rare bullish signal pointing to more big gains ahead (Business Insider)

• TSMC is set to report a strong profit but Trump comments pummel its stock (Reuters)

• Why Charles Schwab Stock Slumped Again on Wednesday (Motley Fool)

• Nvidia, Chips Dive In Nasdaq's Worst Loss Since 2022 (Stock Market Today)

• Indexes slide as Biden plan to tighten China chip crackdown weighs on tech (Business Insider)

• Tesla’s Cybertruck Outsells Ford’s EV Pickup. That’s Not Good News (Barrons)

• Why Intel Shares Rallied Today on a Bad Day for Other Chip Stocks (Motley Fool)

• Meta Stock Plunges, Giving These Gloomy Signals (Investors.com)

• Hottest Macro Short at Risk as Rate Bets Finally Favor the Yen (Bloomberg)

* IDEA *

'Trend Following'

KEY POINTS

• Master technical analysis tools like moving averages, trendlines, and indicators (MACD, RSI) to identify patterns and trends.

• Stay informed about economic indicators, industry news, and geopolitical events to understand market dynamics influencing trends.

• Analyze historical data to recognize recurring patterns and gain insights into trend development and evolution.

• Implement effective risk management strategies, including setting stop-loss orders and managing position sizes, to navigate market uncertainties while trend trading.

* WISDOM BYTES *

Never Give Up

Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine.

Remember, every storm passes, and every struggle brings growth.

Embrace the challenges, for they pave the way to brighter days.

Keep pushing forward with faith and perseverance, knowing that each step you take today brings you closer to the sunshine awaiting you.

* DAILY DOSE *

Memes of the day

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