Market Manipulation Fears & Tech Stock Picks

Summary

The stock market closed slightly lower as S&P futures dipped 10 points and the NASDAQ futures fell 60 points. Concerns are rising about the president's direct intervention in market movements, such as pushing news about an Intel-Apple chip deal and advancing the Iran treaty signing to distract from a hawkish Federal Reserve statement. Analysts point to a potential bubble forming due to this manipulation, with the market's health depending on natural fluctuations. Technically, the S&P 500 has made a lower low, but a lower high is not yet confirmed. The NASDAQ's weekly chart shows potential for a 7-8% upside move, but a 32% drawdown is a worst-case scenario. The 10-year US Treasury yield is at a critical juncture, potentially breaking out of a bullish wedge pattern, which would negatively impact markets. The US dollar remains weak, struggling to break above 101.50 on the DXY. Gold is also showing weakness despite a weaker dollar. The dollar-yen pair is at a double top, with a breakout signaling yen weakening and potential market volatility, similar to a past 10% S&P 500 drop. Japan's 10-year yield is showing a bullish flag pattern, and a breakout could cause further issues. On the investment front, software stocks like Microsoft and Adobe are favored, with TTD highlighted as a potential short squeeze candidate. Silver is at risk of a breakdown below $64, and oil is expected to see limited upside. Bitcoin has broken below a key support level at $63,300-$63,500, indicating relative weakness. Key factors to watch next week include the S&P 500's direction, AI stock performance, and potential presidential market interventions.