Market Moves: Big Picture and Standout Stocks

SPY and Nike Surprises
The chat kicked off with a reference to SPY hitting a bizarre high—”666.66,” a funny but ominous number for traders. Meanwhile, Nike surprised everyone by beating expectations both on revenue and earnings, with price action bouncing at technical levels.

Microsoft’s Steady Rise
Microsoft got a lot of attention too, with a focus on its strong base building between $500 and $505, Azure growth, and recent tie-ups (including gaming). Technical signals pointed toward a potential breakout.

Other Notable Movers

• • Nvidia: Breaking through resistance, showing momentum.
• • Tesla: Parallels with Nvidia’s breakout pattern.
• • Crowdstrike, Palantir: High valuations, but momentum is still driving prices.

Tech Chart Watch: Patterns, Trends & Breakouts

Some stocks became case studies:

• • Soundhound: Roller-coaster action but respectable support at key averages
• • BigBear AI: Watching for buying zones, support around $5.90–$6.10, and defense at moving averages

Momentum vs Valuation
Brian rarely dwells on P/E ratios or macro valuation. The preferred approach is to “follow the money” and let price action be your guide—even if a stock seems expensive relative to the market.

Crypto Check-In: Ethereum, Bitcoin, and Solana

Ethereum’s Bounce
After a solid 20% pullback, ETH bounced at $3,800–$3,900, a technical level Brian had flagged. Positioning was long from that area, targeting higher zones around $4,200.

Bitcoin’s Resilience
Bitcoin showed surprise strength, bouncing above anchors from past lows. The $11,125 level emerged as a key “higher low,” keeping bullish momentum alive.

Solana
Solana behaved like a textbook technical setup—bouncing exactly where the charts predicted, giving traders chances for partial profit-taking.