Market Wobbles, Tech Rockets, and Your Next Big Trade

Summary

The stock market experienced a minor pullback today, not a crash, as inflation data came in hotter than expected. This CPI report, showing sticky inflation in food and housing, spooked investors and led to market turbulence. However, key tech stocks like Micron and Intel showed resilience, bouncing off support levels, signaling continued bullish sentiment in the sector. Palantir is highlighted as a stock with strong technicals, holding critical support at 133 and showing upward momentum, potentially heading towards 140-150. Poet Technologies is also advancing, with the company appointing a new COO to boost manufacturing for high-volume production, though additional contracts are needed. A new small-cap quantum computing stock, INFQ, is introduced as a high-risk, high-reward play with potential for significant gains if it can break above 14. Alibaba is set to report earnings, with a critical support level at 120; the trader has a mixed strategy of holding upside call options while being prepared to short if earnings are poor. The importance of a trading strategy is emphasized, with a tool called the 'friendly stock screener' promoted as a way to quickly analyze stock technicals and levels.