00:00 Jared
we’ve got some winners and we’ve got some losers. So it’s kind of like a split trade here. Let’s go to the Wi-Fi interactive. I have the mega caps here. So we got a few more than just the Mag 7, but what you’re going to see is a big standout here. This is over the last nine days because the Nasdaq has been up nine straight days. XLK, that’s a tech sector, large cap, that’s up nine days, but Tesla is the only stock that’s down. That’s down 1.2%. And if I sort by performance here, you’re going to see some clear winners, kind of a divide between the winners and the losers. So you got AVGO, that’s Broadcom, up almost 30%. Then you got Amazon. I’m going to dig uh do a deep dive into Amazon in a second. Then Meta, Alphabet, Nvidia, uh
00:54 Jared
that is the top row. And then you can see on the bottom, you got Tesla, Berkshire Hathaway, another mega cap we don’t talk a lot about, but that’s barely break even. You’re just not seeing as much price action, some price action to the upside from Microsoft, Lily and Apple. So definitely a bifurcated market. Now, let me show you what’s going on with Amazon. This is over the last year, and you’ll notice this is a lot of sideways chop right here. But, uh, what’s happening is recently is really interesting. Here’s a six-month chart. I just want to show you this negative trend line that we are just starting to peek over today.
01:42 Jared
Now, you combine that, and I’m going to redraw this on the one year, you combine that with the 240 price level, which is where we’re almost at right now. So that’s two forms of potential resistance. We have gone very fast and furious off of those uh March 30th lows. And it looks like Amazon wants to pause for just a little bit. It’s just break even today. It opened up a little bit negative, but if it can punch above 240, I think it’s an easy test of these record highs here around 255 to 60. And we’ll have to see if anything can go beyond, but we might need a new catalyst to get over 240. So Amazon has come uh arguably from the furthest behind and is uh mounted the clearest uh kind of run-up story here, but it has gone so fast that it’s might might be a little bit overextended and so might need to pause a little bit.
02:29 Speaker B
All right, Jared. Thank you, buddy. Appreciate it.