TIC TOP 5

What’s driving the action right now

Folks:

Earnings’ season gives us a lot of themes at play and this week is no different. As I wrap up my weekly scans, I noticed few themes short term which I am sharing below:

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1. Social Media Bottomline: $SNAP may be the first shoe to fall caused by recent ad-privacy changes by AAPL. If this trend sticks, I see more downside for TWTR, FB etc which closed on Friday at 62.5 and 325 respectively. See my tweet about $FB which reports earnings on the 25th.

2. Mega-cap swoon: AMZN and AAPL seem to take a rest, TSLA hitting new All Time Highs. GOOG seems just tired. This is a potent recipe for a S&P500 dip. How deep (or shallow) depends on what lots print next week. $ES_F closed the week at 4530.

3. Bank the banks 🏦: Banks which I was very bullish on last month have outperformed and now BAC is sitting at 47, XLF at 40. May be more juice left in these banks but not after a shallow pullback.

4. Crypto rage: I sent a bearish missive for #bitcoin at 61500 yesterday after which the crypto has lost about a quarter percentage point. I do think any pullbacks may be shallow. Stocks like MARA and COIN benefit from this. Weekly close at 49 and 299 respectively.

5. SPAC mania back on: Donald inspired DWAC continues to amaze 😍 me. I think the SPAC saga is far from over . See my previous DWAC post on substack here.

These 5 are big enough to provide a lot of opportunity this week. What else am I missing ? Let me know. If you like this new format and want more, share my work and subscribe :) Always remember this is my personal thoughts 💭 about markets and not financial advice in any form or shape.