The market reacts positively, declaring Trump the victor.

MOTIVATION
Quote of the week

"The future belongs to those who believe in the beauty of their dreams."

-Eleanor Roosevelt-

Week of 15/07/2024
What You Need to Know This Week

• The chances of Trump winning have risen to 71% following the assassination attempt, up from 59%.

• The market cap of all cryptocurrencies is around $2.46 trillion, 95% higher than last year and up 5% since the assassination attempt.

• Bitcoin rose 10% in the last 10 days, while Ether increased by 9%.

• Cryptocurrencies are gaining support in the political landscape.

• Apple reached new highs, adding $300 billion in market value since starting its AI plans.

• DJT, Trump Media, surged 31%.

• Powell is looking to cut rates before inflation reaches 2%.

• The SEC gave preliminary approval to three companies for their ETH ETFs: BlackRock, Franklin Templeton, and VanEck.

• Nvidia and Microsoft aren't rising as much as others right now.

• Small-cap stocks are gaining more attention from the market, with the Russell 2000 rising 3.3% on Thursday.

• 92% of the Russell 2000's gains this year occurred in the last week; it has risen 12% in 2024, with 11% coming last week.

• Generally, smaller companies perform better when rates are low since they take on more restrictive debts.

• Traders see a 98% chance of rate cuts in September following the June CPI report.

• No changes in retail sales.

• Wednesday marked the first time since 199 that the S&P 500 fell more than 1% in a day while the Dow Jones closed higher: is a rotation coming?

• Rotation, rate cuts, or the Trump trade? Small-cap stocks outperformed tech this week.

• German sales of BTC were €2.6 billion.

• Increased unemployment implies lower inflation and a higher likelihood of rate cuts.

• This week saw positive performance in the first three days, followed by corrections in the last days.

Economic Calendar 22/07/2024
Economic Events

Pay attention to unemployment claims, GDP, and price indices. Thursday and Friday will be the heaviest days of the upcoming week.

Weekly technical analysis
Some Interesting Assets [Stocks and Cryptos]

It was a week of rotation, with an impressive rise in the Russell 2000 and a decline in the SP500.

JMIA
As we discussed last week, JMIA gave us a 76% return in just a few days, and I was already taking profits on most of my position. I'm glad I did, as it has experienced a correction (which looks healthy), but it’s better to have profits in hand. I still hold a little.

NVDA

I'm still holding NVDA for now since it continues to close above $118. I'm watching it closely; if it breaks below that level, I’ll exit.

BTC

Bitcoin looks very good right now. It had that typical cleanup with a price drop in the rounded area marked in yellow, touching $53,600. Now it's returning to the range. Let's also remember that the approval of the ETH ETFs could happen at any moment, which would bring FOMO and inflows to the market.

Which stock/crypto should we analyze next week?

Tech Stocks
We had a good exit from the assets before this correction and the rotation into the Russell 2000 (small-cap companies). Now, the QQQ appears to be in an interesting support zone. We’ll see how the week opens to stay alert. If I spot anything interesting, I’ll post it on X.com, so follow me there!

Random
Random fact of the week

Did you know that snails can sleep for up to three years? This phenomenon occurs when weather conditions are unfavorable, and snails enter a prolonged state of hibernation to conserve energy.

Art
Ilustratrion of the week