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SPY remained within a narrow range, hinting at a potential breakout to the upside. With recent price action showing dramatic movement, we could see a volatile start to the morning.

Meanwhile, the dollar experienced a brief surge before a sharp decline and a subsequent rebound, potentially setting up a significant upward move if key levels are breached.

NVDA is approaching a critical juncture, with its price action suggesting a possible gap fill and a significant breakout opportunity. The risk-to-reward ratio looks intriguing—consider a cautious approach with flexibility to adjust based on market movements.

Let’s dive into the charts! 

* MARKET INTEL *

SPY

The SPY remains in the tight range established last week, continuing to build momentum for a big breakout to the upside.

It closed with a dramatic wick forming the 543.66 level, perhaps signaling a volatile open Wednesday.

* NVDA *

NVIDIA Corp

NVDA is primed to fill the gap below, but also at the end of a narrowing wedge; the risk-to-reward ratio is off the charts.

You might play the downside cautiously, ready to exit and even reverse if the wedge breaks upwards instead.

* DXY *

US Dollar

The dollar enjoyed a short pop-up before taking a nose dive straight to demand and rocketing up to a trend line before violently rejecting it down to the 104.4 level.

A clean break of the trendline with this much momentum should provide a solid run to the upside.

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* MARKET INSIGHTS *

Economic Vibe

Movers & Shakers

• Howmet Aerospace In (HWM) +13.229%

• F5 Inc (FFIV) +12.991%

• CrowdStrike Holdings Inc (CRWD) -9.721%

• NVIDIA Corp (NVDA) -7.044%

* HEADLINES *

Top Reads

• This chart suggests the current bull market rally in stocks will extend into 2025 (Yahoo Finance)

• AMD Stock Surges on Record Data Center Revenue (Yahoo Finance)

• Intel plans to cut thousands of jobs to finance recovery (Reuters)

• Microsoft plunges as Big Tech sell-off deepens (Yahoo Finance)

• Why Lumen Technologies Stock Jumped 77.3% Yesterday (Yahoo Finance)

• National Debt Sets Record No One Wants (Newser.com)

* IDEA *

Confirm Your Ideas

KEY POINTS

• Larger timeframes reveal a bigger market direction.

• Filter out short-term volatility and false signals.

• Validate trade ideas with a broader perspective.

• Enhance decision-making with reliable trend data.

* WISDOM BYTES *

Yesterday is not ours to recover

But tomorrow is ours to win or lose

The past, with all its experiences and events, is unchangeable.

Every mistake made, every decision taken, and every opportunity missed is set in stone.

There’s a certain finality to the past that we must accept.

While it’s natural to reflect on what has happened and wish we could alter some of it, the reality is that no amount of regret or second-guessing can change what’s already been done.

The time and energy spent dwelling on past errors or lost opportunities often distract us from more productive actions.

The past, in essence, is a closed book that we cannot rewrite.

This perspective encourages us to focus on the present moment and the steps to build a better future.

It’s about leveraging our experiences, learning from past mistakes, and using that wisdom to guide our future choices.

The idea is to invest our energy in positive actions and forward-thinking rather than being paralyzed by past regrets.

* DAILY DOSE *

Memes of the day

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