Heading Into August

Monthly topping candles, or the start of a base? My read heading into a critical week...

Marlin Capital Readers,

Last week was a wild one, and it had 2 completely different halves.

The first half saw more carnage in the AI trade. The SOX crashed all the way down to a $10,447 close on Wednesday (-29% off ATHs), undercutting my $10.6k target to the downside.

The second half of the week saw the biggest bounce in months. On Thursday, the Nasdaq surged +2.8%, its best day since June. Semis exploded, with the SOX up +8.2%. The Tech bounce carried over into Friday.

On Thursday night, I asked the question everybody’s still asking this weekend.

Have we bottomed?

Here’s what I’m seeing right now. 👇

Monthly Charts

Let’s start with the big picture.

Monthly charts are my #1 favorite way to cut through all the noise and tell me the big picture of any stock.