Interest rates: Rebounding off lows. 4.25% on 10s is the favorable level
US Dollar: Continues to strengthen
Crypto: Bitcoin is moving higher. Not Ethereum
Market leaders: ARM, AMD, Meta, Coherent Industrials, Bitcoin, Mag7 Gold and Banks
VIX: Over 20 and during a market rally is not a good sign
China: Volatility will persist
Energy Sector: WEAK
Nvidia: Everyone is underestimating AI and its power. Still a buy on dips.
Q3 earnings season is near, with growth forecasts at 9.3% for 2024 and 14.2% for 2025. Estimates are slightly down, and growth is peaking at +12%, indicating the business cycle is maturing.
S&P trend intact for now.
Rates and US Dollar continue to be range-bound.
Energy is NOT following the 10yr here. Important to watch.
ARM: There is a reason why Nvidia offered a premium to buy them.
Uniswap, a major ETH dApp, launched its own L2, slashing fees by 100x and keeping them. If other dApps follow suit, ETH's value could continue to decline.
Bitcoin is going higher. No need to overthink it.
AMD’s event last week had incredible projections
Coherent continues to be one of the best around.
ASML: Remember, this company is the gatekeeper to ALL semiconductor manufacturing. A distinct breakout above $850 would be welcomed
Goldman is projecting $241 EPS on the S&P.
Fidelity is projecting $238.
Banks are breaking out to fresh highs
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