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Tesla and Amazon are negative on the year

Michael Berman, PhD Signal2Noise (S2N) News

S2N spotlight

I am going mad trying to debug a trading system I am working on, and the day has run away from me. I am going away tomorrow until Sunday for some much-needed R&R, so this will be my last letter of the week. This is a really brief one.

Microsoft, $MSFT ( 0.85% ), made another all-time high yesterday.

In case you were interested, it is only the 8th of the year. Granted, we are only halfway.

What does stand out for me is the current gap between the current price and the 200-day moving average. This chart looks like it has done too much and needs to breathe.

S2N observations

Here is a chart sharing how the Magnificent 7 are doing this year. Tesla and Amazon are negative on the year. Jeff has a wedding to pay for; I hope he will be ok.

S2N screener alert

The Nasdaq 100 made a new ATH. There is no keeping this market down at the moment.

S2N performance review

S2N chart gallery

Author

Michael Berman, PhD

Signal2Noise (S2N) News

Michael has decades of experience as a professional trader, hedge fund manager and incubator of emerging traders.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.