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- Jan 25th Stock Market Update - Is the #BTC Selloff done?
Market
JP Morgan said today that heavy selling of Bitcoin by GBTC, Grayscale Bitcoin Trust is the reason #BTC dropped from $49K to < $39K today. If you are a long term Bitcoin believer, $37K- $39K is a good point to watch for a reversal.
Tesla Brought the NASDAQ down, but this is still a strong market
Market continues to do well despite a few hiccups, driven by a very strong >3% GDP Growth in Q4 2023 print.
Our subscription service gives specific entries and exits for both long term holds and swing positions.
Communications and Financials are still doing well
Strong consumer demand and spending has kept consumer staples still strong. Watch for $CL (C $V (Visa) and $AXP (American Express) that report this week for further strength.
Video of the day
Today’s video is a Software as a Service company in the cloud ERP space - Workday $WDAY
Deep dive of the day
Today’s writeup is on Evolv Technology a security company, small cap
Good setups for swing
INTU - earnings in a month, but should get to $650 and then $696 post earnings
MU is still strong int he channel and looks like it wants to get to $100 in 3 months