Welcome to Trading The Close! Today, the market was driven by massive AI news, but the technical charts are flashing serious warning signals that cannot be ignored. Amazon ($AMZN) gapped significantly higher following the announcement of a new partnership with OpenAI to enhance Amazon Web Services (AWS). However, despite the massive fundamental news, the stock is in jeopardy of creating a Topping Tail on the daily chart, exhibiting signs of near-term exhaustion. We break down what this potential topping tail means for AMZN's momentum going forward. Plus, we analyze two critical technical warnings in the AI and growth sectors: NVDA on the "Warning Track": NVIDIA ($NVDA) is relentlessly pushing higher, but it's now reaching the top-end range of a steep parallel channel. This puts the stock on the "Warning Track," signaling high risk and potential for a sharp near-term pullback. RBLX Confirms Breakdown: Roblox ($RBLX) has officially confirmed a breakdown from its multi-month consolidation pattern that occurred from August through October. We identify the next major support zone for this popular growth stock.🚨 Earnings Previews: We set the stage for two highly anticipated earnings reports: Palantir ($PLTR) and Beyond Meat ($BYND). We analyze their pre-earnings technical setups to see where the biggest volatility might occur.📈 Tickers and Markets Covered Today: We provide a comprehensive technical analysis across indices, crypto, and commodities. SPY, QQQ, SMH, Bitcoin, NVDA (Parallel Warning), Gold, Silver, RBLX (Breakdown Confirmation) US Oil, Natural Gas, PLTR (Earnings Preview), BYND (Earnings Preview)
Disclaimer: This show is for educational and entertainment purposes only. The information provided is not financial advice. Trading stocks and options involves substantial risk, and you can lose money. Always conduct your own research and consult with a professional financial advisor. 🔔 Don't forget to LIKE and SUBSCRIBE for your daily technical analysis on the market's major movers at Trading The Close!
Right at the close of the market, Drew will: - Review the day's winners and losers - Analyze the latest news and events - Offer their expert opinions on the market's direction
Subscribe to Trading the Close today and never miss an episode!
