Welcome to Trading The Close! Today provided a narrow, low-participation rally, creating a major technical divergence in the indices. While the Dow Jones Industrial Average ($DJI) is celebrating another new all-time high, the S&P 500 ($SPX) and Nasdaq ($QQQ) remained muted, and low volume suggests limited market participation. This type of divergence often precedes a correction—we analyze what it means for the next trading session. 📈 Technical Movers & Warnings: Mega-Cap Weakness: Meta Platforms ($META) was the biggest loser in the Mega Cap space today. While it is still holding a very recent low, breaking this critical support level could trigger a significant amount of downside pressure. We detail the exact level to watch. Earnings Winner: On Holding ($ONON) surged today on its earnings report, pushing up over 20% at one point! We look at the chart to see if the technical structure supports further continuation of this massive move. RIVN's Next Move: Rivian ($RIVN) followed up yesterday's strong move by holding the top 50% of its parallel channel today. We examine the RSI (Relative Strength Index) to give better insight into momentum and determine if the stock is ready for the next leg higher. ORCL's Bounce Zone: Oracle ($ORCL) is getting extremely close to a long-term trendline, which often acts as a significant support zone. We identify this key level where a technical bounce is highly likely to occur. 🎯 Viewer Request & Macro Watch. We also break down a viewer-requested ticker, XPeng ($XPEV), to provide critical support and resistance levels for this key EV stock. Additionally, we check in on Bitcoin, Gold, Silver, US Oil, and Natural Gas to gauge the overall risk sentiment in commodities and crypto. 📊 Tickers Covered in Today's Show: SPX, QQQ, SMH, DJIONON (Earnings Surge), Bitcoin, META (Critical Support Watch), Gold, Silver, RIVN (Parallel Channel / RSI), US Oil, Natural Gas, ORCL (Trendline Bounce Zone), XPEV (Viewer Request)
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.
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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
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