Most people won’t adjust their process
until the market forces them to.
By then, it can get pretty expensive.
Click here to see why…
Good morning,
Bitcoin broke below $80,000 this morning. First time since April. Silver just had its worst day since 1980… down 31% in a single session.
And the software names that were leading this market? They're getting destroyed.
Something snapped over the weekend.
This wasn't a crypto-specific event. This was everything dumping at once. Gold, silver, tech, crypto… they’re all correlated, all selling off together. The "safe haven" argument for Bitcoin? It’s getting nuked.
It's trading like a levered, liquidity-driven NASDAQ bet. Because that's what it is.
Microsoft missed earnings last week and dropped hard. That kicked off a chain reaction. PLTR, ORCL, INTU, and TTD are all sitting in oversold territory now. RSI below 30. MFI below 20. These names are washed out.
But here's the thing. Oversold doesn't mean buy.
The play right now is patience. I'm watching for MACD crossovers on the daily chart.
That's the signal that buyers are actually stepping back in. Until then, catching this knife is a good way to lose a hand.
Fed uncertainty isn't helping.
Kevin Warsh got nominated to replace Jerome Powell.
Nobody knows what that means for rates. And Friday's jobs report is the big event this week. Until then, we're in no-man's-land.
I ran my Double Oversold screener this morning… 15 names came up.
PLTR, COIN, ORCL, KKR, QCOM, HUM, and a handful of others. I'll walk through all of them live and show you exactly what I'm watching for entry signals.
I'll be live on Morning Momentum at 8:45 AM to break down what's moving and what actually matters. This is one of those mornings where showing up live matters.
See you in 15 minutes.
Stay positive,
Garrett Baldwin