Market Update: AI Surge 🤖, Fed Day Reactions & Bitcoin Analysis 📊

Today's market action was dominated by AI giants, with NVIDIA and Google carrying the NASDAQ to new heights 📈.

NVIDIA's leadership is emphasizing something crucial for all investors to understand: AI is fundamentally about replacing labor across every industry 🏭.

The company has priced in $400 billion in revenues over the next 6 quarters 💰 - this isn't speculation anymore, it's real revenue growth justifying the massive CapEx investments we've been seeing.

S&P 500: Watch That Gap 👀

The S&P continues its relentless uptrend that's been in place since April 📅. We're tracking a parallel channel that's held remarkably well, but there's an important technical level to monitor:

Sunday gap from futures open remains unfilled ⚠️ (unlike last FOMC in September)
Channel resistance approaching 🎯
Pattern suggests potential acceleration ahead 🏃‍♂️

Macro Setup: Blow-Off Top Conditions? 💭

With the Fed turning more accommodative 🕊️, end of QT, and rate cuts on the horizon ✂️, we're seeing conditions that Paul Tudor Jones compared to November 1999 - March 2000, when the NASDAQ surged 50% in just a few months 🌋.

Key takeaway: The macro conditions are ripe for acceleration ⚡, but remember - blow-off tops typically lead to sharp corrections 📉.

Bitcoin & Digital Assets: Fading the Fed Reaction 📉➡️📈

The initial FOMC reaction sent digital assets lower 👇 (classic Fed day price action), but I'm fading this move:

Bitcoin Technical Levels:

Broken support: Trend line support broke post-FOMC ❌
Key resistance: $116k (double top formation) 🏔️
Critical support: $103k (Binance flash crash lows) 🛡️
Line in the sand: 50-week moving average 📏

My Positioning:

Buying ETH at $3,860 💎
Looking to accumulate BTC on this dip 🛒
BTC remains in a clear uptrend (higher highs, higher lows) ✅

The Bottom Line 🎯

Despite today's volatility 🎢, Bitcoin at $111k still presents a strong risk/reward 💪. The bull market structure remains intact as long as we hold the 50-week MA 🐂.

The bigger question: Which alts can outperform BTC from here? My take - very few will 🎪, so choose wisely.

What's your take on the Fed reaction? Are you buying this dip 🛒 or waiting for confirmation above $116k? 🤔

6:23

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