What’s up traders, it’s Ezekiel! Time for your rapid fire market breakdown, the big moves, what’s driving them, and how a seasoned trader would handle it.
- Today’s market mayhem. S&P 500, EUR/USD, Bitcoin, and XAU/USD today
- Big Tech dragged stocks back to the doorstep of record highs, with Meta up 15% on the week and SK Hynix popping 14% on its Nasdaq debut
- Bitcoin climbed about 3% on the week despite the Middle East conflict, and Circle just won approval to launch a crypto bank
- The breakout strategy Ezekiel tested across 10,000+ trades, and the one setup that actually survived, in our latest video
WEEKLY MARKET MAYHEM🔥
A winning week for stocks and crypto, while gold gave some back. Here’s the scoreboard. 📊
Big Tech Just Dragged Stocks Back to the Doorstep of Record Highs.
Three weeks ago the market was terrified of a Fed that wanted to hike. This week it decided none of that mattered, because the AI trade came roaring back. 🚀
The S&P 500 rose 0.42% to 7,575.39 on Friday, closing out a winning week and leaving the index roughly 40 points from its all time high of 7,620.90 set back on June 2nd. Not bad for a week that opened with a collapsing ceasefire.
The leadership was unmistakable. Meta ripped 15% on the week, its best stretch since 2024, and Nvidia added another 4%. The tech sector as a whole climbed about 3%. 💻
The showstopper though was SK Hynix, the Korean memory chip giant, which made its Nasdaq debut and popped 14% straight out of the gate. When a chipmaker listing gets that kind of reception, risk appetite is alive and well.
Energy joined the party too, up 3.1% on the week as oil climbed 5% on the Iran situation. So you had two opposite trades, safety and speculation, both working at the same time. 🛢
🤔 Asia Forex Mentor Insights
Here’s what actually matters. The market is walking into a huge week, with June CPI and PPI landing plus bank earnings kicking off. That’s a lot of fuel for volatility right as the index presses against record highs.
For traders, the resistance is obvious and it’s 7,620. A clean break above with follow through opens blue sky. A rejection there, especially on a hot inflation print, sets up the kind of double top that traps late buyers. Let the level and the data decide, don’t front run the breakout. 📊
Bitcoin Shrugged Off a War, and Circle Just Got the Keys to a Bank.
Bitcoin had every excuse to fall apart this week. A broken ceasefire, fresh airstrikes, oil up 5%, and a sentiment gauge stuck in extreme fear. Instead it went up. 🟢
BTC climbed 2.08% to about $64,244 on Friday, finishing the week roughly 3% higher. For an asset that spent June getting wrecked, quietly grinding higher through a geopolitical mess is a genuine change of character.
What’s interesting is that the fear never lifted. The Fear & Greed Index sat at 23, still deep in Extreme Fear. Price rising while sentiment stays terrified is the textbook definition of climbing a wall of worry. 🧙
Then came the regulatory headline. Circle, the company behind the USDC stablecoin, won approval from the Office of the Comptroller of the Currency to launch a crypto focused bank. The stock jumped more than 13%. 🏦
Add in growing optimism around the CLARITY Act moving through the Senate, and you get a market where the regulatory picture is improving faster than the price chart. That’s usually the order it happens in.
🤔 Asia Forex Mentor Insights
Separate two things here, the trade and the trend. The trade is that Bitcoin held up under genuinely bad headlines, which suggests the sellers are getting exhausted. The trend still needs proof.
Watch the $65K area as the line that decides it. Reclaim and hold above it and this stops being a bounce and starts being a recovery. Fail there and the extreme fear stays justified. The structural news, bank charters and clearer rules, is the slow burn that matters far more in six months than this week’s candle. Trade the data, not the noise. 🧠
MEMES OF THE DAY 🤣
Selling the bottom is a skill, and somehow we’ve all mastered it 😐
Every single month, without fail 🙏
