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Good Morning SqueezeFinders,
Yesterday’s price action on the $QQQ tech index was met with some mixed directional sentiment from the four tech giants that reported earnings. The earnings report results were majority bearish with only $GOOG finding a green outcome, whereas $MSFT, $AMZN, and $META all had more bearish price action following their earnings reports. The $QQQ tech index is largely flat in overnight trading, only showing a -0.2% decline to \~660 area. Crude oil prices are roaring higher to >$110/barrel due to a mix of supply shock from the ongoing blockade of the Strait of Hormuz, failed negotiations, military escalation fears, and OPEC supply limitations. I continue to see the 642 level as our near-term directional sentiment pivot, where a drop under this level could signal a test of old all-time highs (prior resistance) as new support as a pivot test. Otherwise, watch for a move above the current all-time highs at 664.51 for continuation. The main directional sentiment determinants today are a mix of large earnings reports in after-hours ($AAPL, $SNDK, $WDC, $RDDT), the below-detailed economic data releases, and further headline developments regarding the situation in the Middle-East. Regardless of broader market sentiment, you can always locate relative strength by checking SqueezeRadar to track irregularities in our data, or check out our automated trading robot, SqueezeBot to get an edge on the market without having to stare at the screen all day long. We just released the results for the month of March for SqueezeBot, and it was a shocking winrate of 74.63%, average gain was \~2.29% per trade (fixed % profit-taking scalps enabled). We allow for 3%, 5%, or 10% fixed profit-taking parameters. Check out SqueezeBot today!
🥇 Gold: \~$4,560/oz (+0.1%)
🥈 Silver: \~$72/oz (+0.7%)
🪙 Bitcoin: \~$76.0k/coin (-0.5%)
🛢️ Oil: \~$110/barrel (+3.0%)
Today's economic data releases are:
🇺🇸 GDP (Q1) @ 8:30AM ET
🇺🇸 Core PCE Price Index (Mar) @ 8:30AM ET
🇺🇸 Initial Jobless Claims @ 8:30AM ET
🇺🇸 Employment Cost Index (Q1) @ 8:30AM ET
🇺🇸 Core PCE Prices (Q1) @ 8:30AM ET
🇺🇸 GDP Price Index (Q1) @ 8:30AM ET
🇺🇸 Personal Spending (Mar) @ 8:30AM ET
🇺🇸 PCE Price Index (Mar) @ 8:30AM ET
🇺🇸 Continuing Jobless Claims @ 8:30AM ET
🇺🇸 Chicago PMI (Apr) @ 9:45AM ET
🇺🇸 Atlanta Fed GDPNow (Q2) @ 10:00AM ET
🇺🇸 US Leading Index (Feb) @ 10:00AM ET
🇺🇸 Fed’s Balance Sheet @ 4:30PM ET
📙Breakdown point: BELOW this price, the move will lose momentum significantly in the short-term, as shorts will gain confidence encouraging them to short more. Reducing probability of a squeeze without a catalyst.
📙Breakout point: ABOVE this price, the move will gain momentum significantly in the short-term, as shorts losses will increase pressuring them to cover. Increasing the probability of a squeeze occurring, especially if with a catalyst.
4. $DXYZ
Squeezability Score: 40%
Juice Target: 91.8
Confidence: 🍊 🍊
Price: 32.81 (+12.4%)
Breakdown point: 30.0
Breakout point: 41.0
Mentions (30D): 4
Event/Condition: Surges on SpaceX IPO filing rumors positioning the fund as a key proxy play with largest holding at roughly 16% exposure and potential for massive valuation uplift in upcoming listing + continued momentum from investor demand for private tech access and pipeline of other mega-cap IPO candidates driving premium trading + recent institutional buying activity from multiple advisors adding stakes highlighting growing confidence in the portfolio strategy + Recent price target 🎯 of $45 from Craig-Hallum + Recent price target 🎯 of $52 from Benchmark + Recent price target 🎯 of $48 from Canaccord Genuity
5. $WLAC
Squeezability Score: 36%
Juice Target: 27.7
Confidence: 🍊 🍊
Price: 16.99 (+3.91%)
Breakdown point: 14.3
Breakout point: 17.5 (continuation)
Mentions (30D): 1
Event/Condition: Shareholder meeting rescheduled to April 30 for key vote on Boost Run merger with no major changes to record date or proposals + S-4 registration statement declared effective by SEC clearing path for shareholder approval and expected Nasdaq listing under BRUN + $1.44 billion Dell Technologies agreement secured by Boost Run for AI infrastructure hardware and software providing major revenue visibility and execution momentum ahead of closing + Recent price target 🎯 of $20 from DA Davidson + Recent price target 🎯 of $17 from Gil Luria at Weiss Ratings + Recent price target 🎯 of $22 from Benchmark
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