Crypto & Equities Both Under Pressure
SPX closed the week down 1.95% after monthly opex selloff, semiconductors are at a critical Fibonacci resistance, and crypto traders note markets feel heavy regardless of equity direction.
What we know
An account on X summarised a rough week for SPX: high at 7821.67 Monday, -1.1% Wednesday, a PPI-driven bounce Thursday, then giveback on Friday opex to close at 7659.44 (-1.95%). Another account on X warned that $SMH/$QQQ are struggling at a Fibonacci level, with a break of support sending negative signals to all of tech. On the crypto side, another account on X captured the mood: 'stock market is dumping - crypto is heavy. stock market is pumping - crypto is heavy.' another account on X flagged a Nasdaq failed breakout as inherently bearish.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.