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Opinion: Market still overreacting to news in both directions which overall does show weakness but still allows for rallies in these conditions. $ORCL caused AI to sell off and then you have $MU to cause AI to rebound. It looks like people are trigger happy trying to figure out if there’s an AI bubble or this is the next big trend and hype and markets are still undervaluing the rising stocks. Energy saw a mixed week as well as it seems to follow the AI hype as well.

Down 2% from the last newsletter. Saw a deeper drop that has since recovered holding on to that $85,000 support.

Prediction: Still continuing with the squiggle prediction. The important thing now is to see that the $85k support holds and if it does should continue to $92,000 this week. If we break out of the diagonal then it’s safe to assume a local bottom is in. The second part of the squiggles still on the table IF we get that $85k support to break and then we do get a sweep of the lows. $75k to $80k is still very doable on a further stock market pullback or sustained weakness.

It was overpowering Bitcoin for a while but now seems being back to moving with it. Down 4% since last newsletter and right back to the $3k support that seems to be tested a lot lately.

Prediction: It looks like it wants to try testing that $3,400 level after finding a way to hover around $3k. If it can’t hold this $3k level then it’s back to $2,600 as it would be obvious it needs to find a lower support that actually shows demand.

Another week, more time spent at the 3 trillion range. The part that can keep people optimistic is that this trend line is still holding after everything. This would be a great rally to finish off the year making this feel like a local bottom.

$XRP - UPDATE - Still holding since the drop was pretty short lived and recovered fairly quickly. Sub $2.00 was probably the better entry but assuming stocks and crypto can have a fairly decent week I will probably still hold until next week and see if it reclaims $2 or goes lower and needs to be cut.

Closed Trades

$UNI - Closed at 34%

$ROSE - Stopped out at -20%

$CRV - Stopped out at -23%

TRACKING WITH GURU

$COR is sole winner this week up 8%. $GURU up on the day and was the last weeks mover. If $ETH moves this week more than 5% expect to see a lot more green on these.

$COR, $BERRY, $PAPPLE, $PROOF and $GURU

A holiday week with Christmas Eve being a shorter day, and the markets closed on Thursday for Christmas. GDP comes out Tuesday which is a delayed report but could be a decent catalyst if there is an increase. Other than that the markets are probably not trying to do too much during a shortened week but will see if there is after effects of Triple Witching which was on Friday last week.

$TGT added back this week

OPEN TRADES

$FLNC - Currently up 5%, high of 36%

$CROX- Currently up 11%, high of 12%

$TGT - New

CLOSED TRADES

$SABR - Closed at -11%

$CAN- Closed at 111%

$DRD - Closed at 62%

$ROOT - Closed at -4.5%

$NGVC - Closed at -6.1%

$TGT - Closed at -12%

Just a boring retail play that’s looking at taking out a major diagonal resistance after a long downtrend from 2024. Holiday numbers could help as a catalyst to push this higher as well as it pushes more with it’s digital reach and is expanding into AI shopping (first of it’s kind to integrate conversational shopping with Chat GPT). Lately it’s been outperforming it’s peers while still being undervalued compared to competition. This puts it at a good position to gain back some market share while seeing some optimism and catalyst for investors.

Fundamentals strong, growth and outlook strong, and moving with the AI sentiment with added volatility since it’s a smaller stock relatively to the bigger names.

$CROX ( ▲ 0.12% ) (Crocs) - Still up 10%, still expect the $96 target to eventually hit so still holding.

No episode this week

All charts were created using TradingView

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