Quick thoughts - 26 Oct
The market just wants to sell off. As simple as that.
Google reported decent earnings, yet it fell 9.5%, marking its largest drop since a 12% slump on March 16, 2020, the early days of the pandemic shutdowns. It also lost more than $166 billion in market cap, marking its largest single-day loss in value ever. It also broke 2 key levels of 134 and 127. $Alphabet-A(GOOGL.US$ $Alphabet-C(GOOG.US$
Meta had one of the best quarters in recent years, yet it fell 3% after hours, after falling 4% during regular trading hours. $Meta Platforms(META.US$
Don’t forget, we still have Tesla falling by more than 15% since last Tues 17 Oct. It lost a key level of 200 moving average. It did try to go back above it but failed to do so $Tesla(TSLA.US$
Even for Amazon who hasn’t reported their earnings, fell 5.5%. If it reports something that the market doesn’t like, expect a waterfall simliar to Google and Tesla $Amazon(AMZN.US$
SPY fell more than 1% and most importantly it broke the key level of 420
Google reported decent earnings, yet it fell 9.5%, marking its largest drop since a 12% slump on March 16, 2020, the early days of the pandemic shutdowns. It also lost more than $166 billion in market cap, marking its largest single-day loss in value ever. It also broke 2 key levels of 134 and 127. $Alphabet-A(GOOGL.US$ $Alphabet-C(GOOG.US$
Meta had one of the best quarters in recent years, yet it fell 3% after hours, after falling 4% during regular trading hours. $Meta Platforms(META.US$
Don’t forget, we still have Tesla falling by more than 15% since last Tues 17 Oct. It lost a key level of 200 moving average. It did try to go back above it but failed to do so $Tesla(TSLA.US$
Even for Amazon who hasn’t reported their earnings, fell 5.5%. If it reports something that the market doesn’t like, expect a waterfall simliar to Google and Tesla $Amazon(AMZN.US$
SPY fell more than 1% and most importantly it broke the key level of 420
$Invesco QQQ Trust(QQQ.US$ $ProShares UltraPro QQQ ETF(TQQQ.US$ $ProShares UltraPro Short QQQ ETF(SQQQ.US$ $E-mini S&P 500 Futures(JUN4)(ESmain.US$ $E-mini NASDAQ 100 Futures(JUN4)(NQmain.US$ $Crude Oil Futures(JUL4)(CLmain.US$ $CSOP USD Money Market Fund(SGXZ96797238.MF$ $Apple(AAPL.US$ $NVIDIA(NVDA.US$
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VogueHereIAm : All now focusing on bitcoin etf, bitcoin miners lol $Mawson Infrastructure (MIGI.US)$
bwjx : drop more and flush out those who go on leverage first before a decent bounce. mkt is still overvalued but there are plenty of traders who will still buy dips and sell on bounces.