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- Jan 25th Stock Market Update - Is the #BTC Selloff done?
Jan 25th Stock Market Update - Is the #BTC Selloff done?
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.
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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