📈 AAPL Smashes $3.5 Trillion

Plus: My BTC Breakdown

July 10, 2024

Good Morning!

Buckle up, because today’s edition is packed with actionable insights and sharp analysis.

S&P 500's on fire with its 36th record high, while Bitcoin bounces back post-Binance ruling. And Lucid? An 8% leap on stellar EV sales.

But let’s talk Apple—smashing through a $3.5 trillion valuation. Their AI-powered future and bullish momentum could push them to an unprecedented $4 trillion. Dive into our detailed breakdown to see why Apple’s meteoric rise matters to you.

Over at TradingLab Premium, Sherlock’s been dissecting Bitcoin’s bullish potential amidst market fluctuations. Will BTC break past $60K? Get the scoop on key resistance levels, EMA reclaim, and what it means for your portfolio.

Let’s get into it 👇

🌡 Market Temperature Check

📰 What’s Happening Today?

Apple Smashes Through $3.5 Trillion Milestone

Apple has done it again. The tech giant has become the first company ever to close above a $3.5 trillion valuation. This milestone comes after a relentless rally since April, with Apple’s share price shooting up by over 30%. The stock now sits at a record high of $228.68 per share. So, what’s driving it?

  • Apple Intelligence Announcement: Apple's dive into AI with its Apple Intelligence has got investors buzzing. This move is expected to give iPhone sales a nice boost in the autumn quarter. You can read more about this in the Investopedia article.

  • Market Momentum: Since April 19, Apple’s market cap has skyrocketed by $952 billion, which is more than Tesla's entire valuation and is neck and neck with Microsoft’s $3.475 trillion peak. Check out the TSLA price chart and the MSFT price chart to see the comparisons.

  • Q3 Financial Expectations: As we look forward to their August 1 financial update, the market is optimistic, with an expected quarterly revenue of $77.2 billion.

The Road to $4 Trillion

The idea of Apple hitting a $4 trillion market cap isn't just wishful thinking, especially with their strategic AI moves and upcoming products.

  • AI-Powered iPhone 16: Analysts are now talking about the AI-enhanced iPhone 16, predicting it could kick off a "golden upgrade cycle" that sends Apple to new heights. More details on this can be found in the Investopedia article here.

  • Monetization Opportunities: With AI integrated into iOS 18 and a partnership with OpenAI, Apple is set to unlock new revenue streams for themselves and bump up that share value.

  • Investor Confidence: Wedbush analysts are betting on Apple’s valuation hitting $4 trillion, giving it the top spot in the tech world.

Why Apple’s Growth Matters

Apple's historic growth is more than just a win for the company; it’s a big deal for investors and the broader market.

  • Tech Sector Influence: Apple's success shows the massive potential and investor enthusiasm for AI-driven innovations.

  • Market Leadership: By being the first to hit such a huge valuation, Apple is setting the bar for other giants like Microsoft (MSFT) and Tesla (TSLA).

  • Future Prospects: With ongoing advancements, Apple remains a key player, always shaping the future of technology and investment trends.

📈 What I’m Trading

Analyst’s BTC Breakdown

At TradingLab, we’re all about giving you the insights you need to stay ahead. Our analyst Sherlock has been diving deep into BTC’s latest movements 👇

BTC’s Staircase to Success (Or Not)

Sherlock noticed that BTC’s 4-hour chart looks like a staircase up, elevator down pattern. The retracements are getting weaker, and BTC is sticking close to the crucial structure shift level at $58.8K. In previous bearish trends from $66K, retracement waves faced immediate rejection, but things are looking different this time. A close above $58.8K and flipping $60K could signal a major bullish shift.

USDT Dominance and BTC’s Rollercoaster

But hold up, it’s not all smooth sailing. Sherlock isn’t too happy with USDT Dominance sitting on strong daily horizontal support, combined with multi-timeframe EMA dynamic support and a structure shift. The formation of 4-hour equal lows and relative equal lows on the daily chart is a bit worrying. BTC’s unclear equal highs could mean we’re in for a potential red day.

The Bullish Structure Shift

The game-changer came when BTC finally closed a 4-hour candle above $58,800, marking the first bullish structure shift since $66K. Here are Sherlock’s key points:

  1. Bullish 4-Hour Structure: BTC’s 4-hour chart is now bullish.

  2. Resistance Levels: Price is hanging around strong daily resistance at $59.5K - $60K.

  3. EMA Reclaim: BTC has reclaimed the 1-day 200 EMA on 4-hour and 1-hour charts but needs a daily close above to confirm it on the 1-day chart.

  4. Retest Opportunity: Expect a retest to $58,400, which could be a good short opportunity despite the bullish structure.

  5. Double Bottom Formation: The double bottom on the 4-hour chart and key support retests suggest a possible bottom for the downside move.

  6. Major Hurdles: Flipping the $60K resistance is still a big challenge.

  7. USDT.D Reaction: USDT Dominance retesting the multi-timeframe EMA suggests a likely downside move for BTC.

  8. Bullish Continuation: As long as BTC doesn’t break and close below the last low at $53K, the bullish structure holds.

Join the TradingLab Community

Sherlock’s analysis is just a taste of the deep insights and timely updates you get as part of the TradingLab community. Don’t miss out on the next big move in the crypto market. Join us today and stay ahead with expert analysis, real-time updates, and a community that’s all about trading success.

✍ TL;DR

Apple Hits $3.5 Trillion Milestone:

  • Apple becomes first company to close above $3.5 trillion valuation.

  • Driven by 30% rally since April.

  • Boosted by AI advancements with Apple Intelligence.

  • Analysts predict potential $4 trillion market cap.

  • Upcoming AI-powered iPhone 16 could drive further growth.

Bitcoin’s Potential Bullish Shift:

  • Bitcoin shows bullish structure shift near $58.8K to $60K resistance.

  • Concerns with USDT Dominance on strong support.

  • Key indicators: 4-hour bullish structure, 1-day 200 EMA reclaim.

  • Potential short opportunities with retests.

  • Sherlock's TradingLab analysis highlights these developments.

Stay ahead, stay informed, and most importantly, stay profitable.

‘til next time,

TradingLab