Bitcoin the star of the show - all time highs on deck? Leaders claw back!

Trusting the process kept us in our positions, with no panic selling.

Key takeaway: One day does not make a trend. Process first.

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Bitcoin breaks out, quantum names explode higher — what a response today!

Traders’ concerns were quickly put to rest, as MORE setups appear tonight & yesterday’s bruised leaders shook off the damage and surged higher.

Bitcoin stole the spotlight, delivering a clean, high-volume breakout. in our long position — one we’ve been patiently holding for days.

Long since 106,618:

There’s a classic market saying: “One day doesn’t make a trend.” Today proved just that — not because it was weak, but because it was powerful confirmation that strength is alive and well.

Yesterday was ugly, but remember— if your stock is trading above your cost basis and holding firm above rising moving averages, the best move is often to simply step aside and let it work.

This was about as strong a reaction as we could have hoped for in the market’s true leaders.

Right now, cryptocurrency looks like the hottest sector out there — and I’m glad to say we’re already well-positioned across multiple names.

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In the Trading Room, we added COIN late in session, as it pushed off the 10EMA support, triggering a pullback buy.

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Tonight, I’ll look at:

• Hot new setups to watch

• Why the indexes still require a little caution

• Hot themes and tickers leading this market

• Market breadth, internals - things are warming up!

• Video break down of it all

Let’s dive in!

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QQQ

QQQ put in a strong candle, engulfing yesterday's weaker day — great to see.

I would have liked the market to digest or pull back further here, but I won’t complain about gains.

It can be difficult sometimes, due to emotional pressure, but it’s best to leave a stock or index work if it's trending above rising moving averages.

We're seeing this index ride the 5-SMA, which is the ultimate sign of strength.

SPY

The SPY pushed out to a new all-time high — nothing more bullish.

I’m not too surprised by this, given the strength we saw in RSP yesterday, with the equal-weight index showing major relative strength and outperformance.

This index remains extended, and I’d be happy to see more consolidation at these levels to allow moving averages to catch up.

IWM

IWM was once again the leading performer, as we’re seeing money flow back into small caps.

This index is on the right path toward testing the next resistance zone at 230.

It’s great to see the market broaden out — strength in this area will certainly help improve internals.

ARKK

ARKK didn’t want to rest for long, as we saw a powerful bounce straight off the rising 10 EMA.

The strongest stocks and ETFs often touch their rising moving averages and use them as a springboard to launch higher.

That’s why buying pullbacks can be so effective. This ETF is widely used as a barometer for growth, so it’s important to see it continue to perform well.

Gold

Gold once again showed resilience, managing to reclaim its moving averages. It's not on my focus list or actionable here, but I respect the shakeout and recovery — a clear signal that buyers are still in control.

Bitcoin (long)

Bitcoin continues to look like the fattest pitch in the market, and our patience paid off.

The big breakout arrived today with volume.

The weekly chart shows a beautiful flag pattern, and the breakout is now underway, looking primed to test prior all-time highs. I will remain bullish — but of course, price will determine everything.

If we can take out the June highs, we’ll have a clear runway toward the previous all-time high.

We've placed our trade, defined our risk, and now it’s time for the market to decide what happens next.

Long from 106,618

USD

The dollar is attempting to show signs of support down here but faces significant overhead resistance. Still locked below all major moving averages.

TNX

The 10-year yield is showing support at the horizontal level outlined in last night’s newsletter.

There’s so much value in simply looking left on a chart to see where price has been and how it reacts to key levels. Let’s see if a bounce attempt materializes.

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Our market indicator

Remains on a GREEN signal.

Net highs continue to hold up with very constructive numbers here. A market grinding higher supported by net highs is very bullish.

Quallmaggie indicator

Our Qullamaggie indicator remains RISK ON.

We continue to ride higher on a green signal as the moving averages do their job supporting the trend.

Bullish is the way to be with this market backdrop — as long as your portfolio and setups are working, there’s no need to overthink it.

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