WEEK OF NOVEMBER 25, 2024
Welcome to the Traderverse Weekly Newsletter!
Happy Thanksgiving!
As we gather with loved ones to celebrate this season of gratitude, we want to take a moment to thank YOU—our amazing supporters, community members, and partners. Your belief in our vision and dedication to this journey means the world to us.
We also want to extend a heartfelt thank you to our incredible team and their families, whose hard work and support make everything we do possible.
Please note, the markets will be closed on Thursday in observance of the holiday. Take this opportunity to relax, reflect, and enjoy time with those who matter most.
Wishing you a joyous Thanksgiving filled with warmth, gratitude, and plenty of delicious food!
Important Prices
What’s Moving The Markets?
Gary Gensler’s resignation as SEC Chair, effective January 2025, concludes a controversial tenure defined by his regulation-by-enforcement approach to cryptocurrency, coinciding with political shifts as President-elect Donald Trump prepares for his second term.
Nvidia (NVDA) faces short-term challenges with supply chain constraints and production delays for its Blackwell chips, but demand for its AI processors remains exceptionally strong, underscoring its long-term dominance in the booming AI market.
Amazon (AMZN) has invested $8 billion in Anthropic to deepen their AI partnership, aiming to develop Trainium chips, bolster AWS Neuron, and challenge Nvidia’s dominance in the AI hardware market despite Anthropic’s existing reliance on Nvidia GPUs.
The United States may impose tariffs of up to 40% on Chinese imports, potentially cutting China’s growth by 1 percentage point, as economists warn of escalating trade tensions and Beijing grapples with domestic economic challenges.
Apple (AAPL) has urged the dismissal of a DOJ lawsuit alleging monopolistic practices, arguing insufficient proof of monopoly power, as the case highlights ongoing antitrust scrutiny of Big Tech and its impact on industry competition.
The cryptocurrency industry is energized as President-elect Donald Trump plans to create a Bitcoin (BTC) reserve, establish a White House crypto role, and form an advisory council involving key figures like Coinbase’s (COIN) Brian Armstrong to shape U.S. digital asset policy.
S&P Outlook
Bear Case: Bears are currently defending within a supply zone, aiming to push the price below the crucial 5900 level and sustain it there to secure bearish momentum. Successfully breaking and holding below 5900 would set the stage for targeting the next significant level at 5770, which is essential for continuing the bearish drive and gaining further market control.
Bull Case: Bulls have successfully maintained the price above the psychologically significant 5900 level and are now challenging the upper boundaries of a supply zone. To continue their upward trajectory, bulls need to break through this zone effectively. If the price encounters resistance and fails to advance, it remains critical for bulls to hold above 5900 to position themselves for potential new all-time highs.
EARNINGS RELEASE CALENDAR
FOR WEEK OF NOVEMBER 25th
Economic Data Calendar
