80% of stocks in the S&P 500 closed in the green; bullish market day.
NVIDIA stock reached record highs and crossed a $3.4 trillion market cap.
Crypto stocks are also rising.
Earnings season is in full swing, indicating continued momentum-driven market action.
NVIDIA Analysis
NVIDIA closed at a record high, despite previous rejections at similar levels.
Key resistance level at $140; significant seller interest at this price point.
Reaching this resistance level is critical, as past all-time highs were near this.
General Market Performance
The market reached its 46th all-time high this year.
Compared to historical data, it's the 13th best-performing year since 1997.
Cryptocurrency Market
Bitcoin is above $66,000, approaching a $74,000 all-time high resistance.
Momentum is strong, but watch for resistance at $66,000 and $70,000.
Tech Industry News
Google signed a deal for nuclear power to fuel data centers, following Microsoft's similar move.
The agreement indicates a shift towards nuclear as a clean energy source.
First reactor expected to be online by 2030.
Earnings Season
Upcoming earnings reports from companies such as Walgreens, UnitedHealth, United Airlines, and Citigroup.
Banks like Bank of America and Citigroup may see significant movement.
Economic Overview
Economic rundown is light, with few major events except for some Fed speakers.
Market focus on company earnings rather than economic indicators.
Stocks Analysis and Predictions
Palantir: Overbought in the short term. Watch for resistance at $44.40, potential pullback.
Affirm: Watch for a break above $50 for momentum play.
Celsius: Oversold, potential upside if breakthrough resistance at $35.40.
Lowe’s: Consistent upward trend, potential continuation if breaking past day's high.
Momentum Plays
SoFi: Watch for a break above $10.10.
Coinbase: Watch for a break above $200.
Qualcomm: Watch for movement past $180 (upside) or below $174 (downside).
Big Money Trades
Old Dominion Freight Line (ODFL): 190 strike call options bought, expiring 2025. Bullish momentum building.
Trading Advice
Focus on sustainable trading habits.
Protect against downside movement by adapting to market changes.
Use tools like Bookmap to assess market data and buyer/seller interest.
Community Updates
Shout-out to community member Isaiah for great trading performance.
Encouragement to engage with educational resources in the Discord channel.
Summary
The market is experiencing significant bullish momentum, partly driven by major tech stocks like NVIDIA and emerging interest in nuclear power by companies like Google.
Earnings season adds volatility, providing trading opportunities.
Traders advised to maintain disciplined approaches, use tools to gauge market trends, and stay informed of broader market movements.