SPX BOUNCES on KEY Support! 🚀 But Mega-Cap Rotation (MSFT, AMZN) & NVDA Earnings LOOM!

Welcome to Trading The Close! Today is a major turning point on the charts. The S&P 500 ($SPX) is closing under its 50-day Simple Moving Average (SMA) for the first time since rebounding from the April lows. This is a highly significant shift from the established trend—as the saying goes, the trend is your friend, until the end. We break down the implications of this technical breach and what new trend may be developing.
📉 Technical Warnings Across Mega-Caps & Crypto, GOOGL's Failed Rally: Alphabet ($GOOGL) saw a massive pop earlier following the news of Berkshire Hathaway accumulating a position. However, nearly all of those gains have dissipated intra-day, and the stock is likely forming a bearish topping tail on the daily chart. This suggests sellers quickly stepped in to reject the breakout, signaling near-term exhaustion. Bitcoin Pressure: Bitcoin has been under relentless pressure today, pushing the price lower under $91,500. We unveil the parameters of the new parallel channel that will define Bitcoin's potential trajectory and identify the next critical support levels. Semiconductor Stress: We examine the topping tail visible on Micron ($MU), indicating potential reversal risk. This technical pressure is supported by fundamental weakness as Dell ($DELL) highlights continuing pressure on computer margins. COIN Support Test: Coinbase ($COIN) is experiencing a sharp drop today and is testing a key support level. We analyze this chart to see if the bulls can defend this line or if a confirmed breakdown will trigger further downside in the crypto-related stock space.
🎯 Tickers and Markets Covered Today: We provide comprehensive technical analysis across indices, crypto, and commodities to identify key support and resistance. SPX, QQQ, SMH, GOOGL (Topping Tail Analysis), Bitcoin (New Parallel), MU (Topping Tail Warning), Gold, Silver, DELL (Margin Pressure), US Oil, Natural Gas, COIN (Key Support Test). The S&P 500 closing below its 50-day Simple Moving Average is a significant indicator of a possible trend shift.

Disclaimer: This show is for educational and entertainment purposes only. The information provided is not financial advice. Trading stocks and options involves substantial risk, and you can lose money. Always conduct your own research and consult with a professional financial advisor.

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