The market just wants to sell off. As simple as that.
Google reported decent earnings, yet it fell 9.5%, marking its largest drop since a 12% slump on March 16, 2020, the early days of the pandemic shutdowns. It also lost more than $166 billion in market cap, marking its largest single-day loss in value ever. It also broke 2 key levels of 134 and 127.$Alphabet-A (GOOGL.US)$$Alphabet-C (GOOG.US)$
Meta had one of the best quarters in recent years, yet it fell 3% after hours, after falling 4% during regular trading hours.$Meta Platforms (META.US)$
Don’t forget, we still have Tesla falling by more than 15% since last Tues 17 Oct. It lost a key level of 200 moving average. It did try to go back above it but failed to do so$Tesla (TSLA.US)$
Even for Amazon who hasn’t reported their earnings, fell 5.5%. If it reports something that the market doesn’t like, expect a waterfall simliar to Google and Tesla$Amazon (AMZN.US)$
SPY fell more than 1% and most importantly it broke the key level of 420
Ben 23
:
drop more and flush out those who go on leverage first before a decent bounce. mkt is still overvalued but there are plenty of traders who will still buy dips and sell on bounces.
VogueHereIAm : All now focusing on bitcoin etf, bitcoin miners lol $Mawson Infrastructure (MIGI.US)$
Ben 23 : drop more and flush out those who go on leverage first before a decent bounce. mkt is still overvalued but there are plenty of traders who will still buy dips and sell on bounces.