ANDIKA BULLETin 18 JUL 2024

So much for the "broadening out of the rally"

The Nasdaq damn broke today as it suffered its biggest single-day drop since Dec 2022 tanking a whopping 512 pts down

The Magnificent 7 stocks have lost a staggering $1.1 Trillion in market cap in the last five days...

But that's still a drop in ocean in context of how far they have come...

Semis were slammed - their biggest drop since the COVID lockdowns - as the market had trouble with weaker than expected 3Q guidance from European semi bellwether, ASML (and headline chatter from Trump - yes Trump of further crackdowns on chip exports to China)

Oil had a great night - up to USD $83.06 or 2.85% while Gold and Bitcoin took a small breather.

Bitcoin experienced stronger inflows - 8th day up in a row!

Finally, if you thought you had a bad day in the markets, President Biden's odds of getting the nomination collapsed... again...

Kamala's awful quiet, eh?

Happy Thursday!

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